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"CAPIS Morning Note -6/12/20 Investors Ready For A Rest After Volatile Week"

posted by CAPIS on 06/12/2020 at 5:47 am

by CAPIS

06/12/2020 at 5:47 am

IPOs on deck: Generation Bio (GBIO) priced at $19 above erange of $16-$18. AZEK (AZEK) price at $23 with range of $19-2$21.

IPOs Filed:  None of note.

Secondaries Priced:  OKE SITM RNA of note.

Notes Priced of note: None  of note.

Common Stock filings:None of note.

Mixed Shelf Offerings:  TGI of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

ADBE (+0.13) of note.

Misses: 

PVH (1.43), PLAY (0.52), LULU (0.05) of note.

Gap Up: LPTX +24%, PLAY +15%, RWT +13%, PRTY +12%, GNUS +11%, JBLU +7%, VIE +7%, SELB +6%, TGI +6%, ADBE +5%, EDIT +4%, MYL +4%, CNC +4%

Gap Down: WINS -31%, AGIO -10%,  OKE -6%, PVH -5%, LULU -5%

Hourly Action This Past Week: Updated 6/11 Close

News After The Close (In Order)

Churchill Downs (CHDN) will reopen five casinos in the next week.

Jetblue (JBLU) has senior debt downgraded by Moody’s.

Twitter (TWTR) notes that there are thousands of misinformation accounts from China and they were removed. (NYT)

Lockheed Martin (LMT) wins $370 million Navy contract.

Raises Guidance:  CNC (EPS)

Lowers Guidance: ADBE PVH CNC (Revenues)

Withdraws Guidance:  

Dividend Increase: 

Dividend Cut:

Share Repurchase Announcement: IHC

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

S&P 500 +64 Dow Jones Industrial Average +563 NASDAQ +152 . Fair values are lower.  Asia lower and Europe lower to mixed with FTSE up.

Gold higher, silver lower with copper higher. WTI Crude Oil lower and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.67 from $138.75  with yields at 0.695%.

Positive Sectors On Thursday:  None of note.

Negative Sectors On Thursday: All and it was ugly with the least down was -3.78% and worst was -8.73% (Energy).

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: None of note.

Monday Before The Open: JKS of note.

Earnings This Morning Of Note

Beat:

None 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: Oregon pauses on reopening.

U.S. Coronavirus Map.

Dr. Scott Gottlieb notes that there is not a second wave. (CNBC)

Houston may impose stay at home order as cases rise. (Bloomberg)

Nashville delays next phase of reopening due to increase in cases. (CNBC)

Quicken Loans plans to IPO. (CNBC)

Stock Index Tracking

Current through 6/11 close. Yesterday was brutal.

Bold means a change from prior day.

The advance/decline line model is now a BUY. Updated through 6/11 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 10.90% with the S&P 500 lower by -0.73% 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 5.65% through Tuesday.

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 6/11 close. EVL Ranges will start to expand again with the recent action.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 75.8 from 72.3.

Geopolitical & Related

President Trump will be teeing it up at noon at Bedminster Golf Club and has no events on the calendar.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  MDT MX CNC  (Investor/Analyst Meeting) ARPO  FFMGF AUTL  (Conference Call)  XFOR (Update).

Sellside Conferences: Bank of America Merrill Lynch Innovative China Virtual Conference 2020 (6/8-6/12).

Industry Conferences: BIO International Digital Convention. (6/8-6/12). American Diabetes Association (6/12-6/16).

M&A

Upgrades & Downgrades: None of note this morning.

updated through 8:35 a.m. EDT

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