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"CAPIS Morning Note -6/9/20 Futures Dropping About -1%"

posted by CAPIS on 06/09/2020 at 6:25 am

by CAPIS

06/09/2020 at 6:25 am

IPOs on deck: Vroom (VRM)  priced at $22 a share.

IPOs Filed:  None of note.

Secondaries Priced: PNFP PLL  KZR SRC  RTRX REPL FATE BXMT   of note.

Notes Priced of note: GKOS of note.

Common Stock filings: CERC  FATE RTRX SRC  MLAB APTV REPL BXMT  AYTU BILL PS (selling shareholders) of note.

Mixed Shelf Offerings:  WFC of note.

Convertible Offering Files:  OKTA APTV of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

COUP +0.13, PHR +0.08 of note.

Misses: 

SFIX (0.18), CASY (0.16), CVGW (0.10) of note.

Gap Up: SWAV +9%, STRL +9%, PHR +8%, M +7%, GBT +5%, AGIO +5%, AMPH +4%

Gap Down: SLNO -46%, CHK -40%, CERC -20%, KZR -8%, SFIX -8%, SRC -7%, RTRX -6%, REPL -6%, BTI -6%, BILL -5%, COUP -5%, BXMT -5%

Hourly Action This Past Week: Updated 6/5 Close

News After The Close (In Order)

Macy’s (M) closes on $4.5 billion of financing.

Wendy’s (WEN) notes beef supply back to normal.

Rumors fly that Chesapeake Energy (CHK) to file for bankruptcy.

General Electric (GE) to reopen prior debt deals to bring in $3 billion.

Hologic (HOLX) sees improvement for June quarter.

Major ratings agency affirms Japan.

Raises Guidance:  COUP  SMG 

Lowers Guidance: 

Withdraws Guidance: 

Dividend Cut: RICK KMF KYN AVD (withdraws)

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

S&P 500 -30 Dow Jones Industrial Average -328 NASDAQ 40 Russell 2000 -21.89. Fair values are higher.  Asia and Europe mixed to lower.

Gold higher, silver lower and copper higher. WTI Crude Oil higher  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 $137.66 from $137.13  with yields at 0.83% from 0.91%.

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

Negative Sectors On Monday: 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:  FIVE VRNT CHWY AGX GME AMC of note.

Wednesday Before The Open:  UNFI GES CHS RRGB of note.

Earnings This Morning Of Note

Beat:

 SIG +1.07, HDS +0.12, LOVE +0.12 of note.

Missed:

CONN (1.55), GCO (1.13), TIF (0.44) 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: Astra Zeneca ups antibody study.

U.S. Coronavirus Map.

Dr. Scott  Gottlieb former FDA Commissioner disagrees with WHO on super spreader comments. (CNBC)

Virus spreaders with no symptoms are rare says WHO. (Bloomberg)

Senate believes that the U.S. failed to oversee Chinese telecom companies like CHA CHU CHL. (Reuters)

Gilead Sciences (GILD) and its drug Remdesivir slows Covid-19 in monkeys. (CNBC)

NYC and LA to cut budget of their police department as the “defunding trend” rises. (NYT)

Taiwan Semiconductor gets subsidies for U.S. plant. (Bloomberg)

Apple (AAPL) to move to its own chips in computers replacing Intel (INTC). (Bloomberg)

Hanesbrands (HBI) names Stephen B. Bratspies as CEO. Comes from Walmart where he was CME.

Stock Index Tracking

Current through 6/8 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 6/8 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 6.48%.

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:

May NFIB Small Business Optimism Index was out with its latest update at 6:00 a.m. EDT and

Federal Reserve Open Market Committee (FOMC) begins a two day meeting.

API Petroleum Institute Weekly Data is due out at 4:30 p.m. EDT.

The latest NYSE And NASDAQ Short Interest is due out after the close for the period ended May 29th settlement.

Geopolitical & Related

President Trump will meet with Secretary of State Mike Pompeo at 2:15 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  INTC LEA AVY SYNA  (Investor/Analyst Meeting) ERIC (Conference Call) 

Sellside Conferences: Stifel Cross Sector Insight Conference (6/8-6/10). Bank of America Merrill Lynch Innovative China Virtual Conference 2020 (6/8-6/12). William Blair Annual Growth Conference. (6/9-6/11). Morgan Stanley Financials Conference (6/9-6/10). Goldman Sachs Annual Healthcare Conference (6/9-6/11). Mizuho Cybersecurity Summit (6/9).

Industry Conferences: None of note. BIO International Digital Convention. (6/8-6/12). OPEC Meeting (6/9-6/10).

M&A

Upgrades & Downgrades:

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.