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"CAPIS Morning Note -6/8/20 Stocks Set To Start Week Higher With S&P 500 Above 3200"

posted by CAPIS on 06/08/2020 at 6:42 am

by CAPIS

06/08/2020 at 6:42 am

IPOs on deck:  Neteases (NTES) prices its Hong Kong Public Offering.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings: XENT  KZR JD (Hong Kong) of note.

Mixed Shelf Offerings:  FTV KDMN BLDP ONB AXLA NGM CORE DMRCBCYC PVG of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: SIRI of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

None of note.

Misses: 

None of note.

Gap Up: SRPT +10%, CLDX +9%, BCRX +7%, REVG +7%, GILD +5%, THO +5%

Gap Down: OPNT -34%, EBS -14%

Hourly Action This Past Week: Updated 6/3 Close

News After The Close (In Order)

Gilead Sciences (GILD) and Galapagos NV (GLPG) announce positive results on psoriatic arthritis.

Rumors surfaced over weekend that Asta Zeneca (AZN) may buy Gilead Sciences (GILD). (Bloomberg)

Fitch affirms Sweden with AAA outlook.

Ebix (EBIX) and Yatra (YTRA) cancel pending merger.

Russell releases the preliminary changes to its U.S. Indexes.

Barron’s positive on FMC SYY USFD PFGC TWTR and negative/mixed on ZM.

Raises Guidance:  AAN

Lowers Guidance: 

Withdraws Guidance: ASB 

Dividend Increase: EFC 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +15 Dow Jones Industrial Average +218 NASDAQ -4 Russell 2000 +29. Fair values are higher.  Asia and Europe higher.

Gold, silver and copper higher. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $137.13 from $137.39 with yields at 0.91%.

Positive Sectors On Friday: Energy, Financials and Industrials of note.

Negative Sectors On Friday: None of note.

One Month Winners: Industrials, Materials and Financials of note.

Three Month Winners: Consumer Cyclical, Technology and Materials of note.

Six Month Winners:  Technology, Healthcare and Consumer Cyclical of note.

Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close: COUP CASY SFIX PHR CVGW of note.

Tuesday Before The Open:  TIF HDS MMYT SIG GCO CONN LOVE of note.

Earnings This Morning Of Note

Beat:

THO +0.53, REVG +0.17 of note.

Missed:

None of note.

Rags & Mags: Highlighted Stories may be clicked through to the original story.

5 Things To Know To Start Your Day. (Bloomberg)

Stocks Making The Biggest Moves. (CNBC)

Coronavirus update: NYC reopens, New Zealand says virus is gone.

U.S. Coronavirus Map.

OPEC extends production levels  by one month. (OPEC Release)

Satellite data shows coronavirus was spreading through China long before reported. (ABC News)

Tesla (TSLA) sells 11,905 Model 3s in China for May, triple April volume. (Reuters)

Gilead Sciences (GILD) supply to the Government of Remdesivir will run out by end of month. (CNN)

Hedge Fund Icon Stanley Druckenmiller says underestimated the Fed and surprised by rally the last three weeks. (CNBC)

Chairman of the Council of Economic Advisers Kevin Hassett says phase four stimulus bill is 100% and expected done by July, with size dictated by June jobs data. (CNBC)

Stock Index Tracking

Current through 6/5 close. All indexes above their 200 day moving averages.

Bold means a change from prior day.

The advance/decline line model is now a BUY. Updated through 6/5 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.25% with the S&P 500 lower by -7.40% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal is up 5.22%.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Updated through 6/5 close. EVL Ranges remain above normal and are highlighted in blue but are trying to return to normal.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

Geopolitical & Related

President Trump will have lunch with the vice president, then his press secretary holds press conference at 2:00 p.m. EDT followed by the president participating in a roundtable with law enforcement at 3:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  INTC (Investor/Analyst Meeting) EFX ADRO (Conference Call) 

Sellside Conferences: Stifel Cross Sector Insight Conference (6/8-6/10). KBW U.S. Regional Bank Conference (6/8). Goldman Sachs ESG Conference (6/8). Bank of America Merrill Lynch Innovative China Virtual Conference 2020 (6/8-6/12).

Industry Conferences: None of note. BIO International Digital Convention. (6/8-6/12)

M&A

Materion (MTRN) to buy Optics Balzers in $160 million deal.

Upgrades & Downgrades:

DISCLAIMER

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