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"CAPIS Morning Note – 6/15/20 Covid-19 Fears In U.S. And China Drive Stocks Lower"

posted by CAPIS on 06/15/2020 at 6:14 am

by CAPIS

06/15/2020 at 6:14 am

Lead Story: Market pullback continues. (CNBC)

IPOs on deck: 

IPOs Filed:  None of note.

Secondaries Priced:  None of note.

Notes Priced of note: None of note.

Common Stock filings:  None of note.

Mixed Shelf Offerings: CDXC  SYRS BANR ZGNX   of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

None of note.

Misses: 

None of note.

Gap Up: ISEE +81%, VTVT +39%, FLDM +28%, MRNA +4%.

Gap Down: HTZ -21%, CDXC -6%, BP -5%.

Hourly Action This Past Week: Updated 6/11 Close

News After The Close (In Order)

Hertz (HTZ) get approval from a bankruptcy judge to sell stock even though in bankruptcy.

Covid-19 cases continue to rise in the U.S. and a new outbreak emerges in Beijing, China wet markets.

Atlanta saw protests over the weekend after Rayshard Brook was killed by police.

President Trump moves his June 19th rally in Tulsa to June 20th to avoid conflict over Juneteenth.

Barron’s positive on GS PGR CAG GIS CPB SIX FUN SEAS.

Raises Guidance: 

Lowers Guidance: 

Withdraws Guidance:  

Dividend Increase: WRB IIPR  SAFE

Dividend Cut:

Share Repurchase Announcement:

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 -651 NASDAQ -140 Russell 2000 -33.38. Fair values are higher.  Asia lower and Europe lower.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.98 from $138.67  with yields at 0.674% from 0.695%.

Positive Sectors On Friday:  Real Estate, Financial and Energy 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: None  of note.

Tuesday Before The Open: LEN MMYT of note.

Earnings This Morning Of Note

Beat:

None of note.

Missed:

JKS (0.35) 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: Greece restarts tourism and vaccine deal in Europe.

U.S. Coronavirus Map.

Dr. Fauci over the weekend reiterates that a second wave not inevitable. (CNN)

22 states see Covid-19 cases rises, 9 are flat and 19 are falling. (NYT)

Beijing moves to “wartime mode a cases rise in the city. (NPR)

BP writes down $17.5 billion in Q2 and lowers numbers to 2050. (CNBC)

Only 44% of Americans feel comfortable on an airplane while most feel comfortable shopping, going to a restaurant or staying at a hotel. (ABC News)

Stock Index Tracking

Current through 6/12 close. Friday saw some improvement of 20 day moving averages.

Bold means a change from prior day.

The advance/decline line model is now a BUY. Updated through 6/12 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.43% with the S&P 500 lower by -5.86% through Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal is up 0.18% through Friday.

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 6/12 close. EVL Ranges will start to expand again with the recent action.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

Federal Reserve Empire State Manufacturing for June is due out at 8:30 a.m. EDT and is expected to improve to -25 from -48.5.

Geopolitical & Related

President Trump will lunch with the Vice President at 12:30 p.m. EDT and then participate in a roundtable on Fighting For Seniors are 12:30 p.m. EDT.

The Bank of Japan (BOJ) is out with its latest interest rate decision at 8:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:   ROK (Investor/Analyst Meeting) (Conference Call)  STOR (Update).

Sellside Conferences: Raymond James Human Health Innovation Conference (6/15-6/18). Evercore ISI Virtual Consumer & Retail Summit (6/15-6/17). Benchmark Healthcare House Call Investor Conference (6/15-6/16).

Industry Conferences: American Diabetes Association (6/12-6/16). NASDAQ London Investor Conference (6/15-6/17).

M&A

58.com (WUBA) higher on report that investor group will bid over $55.

Upgrades & Downgrades: None of note this morning.

updated through 8:55 a.m. EDT

DISCLAIMER

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