IPOs on deck:
IPOs Filed: None of note.
Secondaries Priced: VICI ERI SWAV AAXN CNST BKI of note.
Notes Priced of note: MRK of note.
Common Stock filings: PRVB IDYA BKI IR DKNG of note.
Mixed Shelf Offerings: KGC PVG of note.
Convertible Offering Files: ATI of note.
Senior Notes Filed: None of note.
Earnings After The Close:
HRB +0.40, ORCL +0.04 of note.
None of note.
Gap Up: WATT +104%, FLGT +21%, AMRN +5%, PTCT +5%
Gap Down: AVEO -10%, NCLH -10%, PRVB -8%, DKNG -5%, RCL -4%, GAN -4%, CCL -4%
Hourly Action This Past Week: Updated 6/15 Close
News After The Close (In Order)
Oracle (ORCL) notes on earnings call that some clients are delaying orders, not a surprise, but guides August quarter higher.
Groupon (GRPN) sees business recovering more quickly than expected.
Kratos Defense (KTOS) wins $46 million award from U.S. Army.
Norwegian Cruise Line (NCLH) extends suspension of voyages through 9/30.
Travel stocks were lower in after hours on LUV and NCLH news from above.
Raises Guidance: ORCL
Dividend Cut: ARI
Share Buyback: CHGG ( also can buyback convertible bonds) WRLD
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 +107 NASDAQ +78 Russell 2000 +12.04. Fair values are lower. Asia mixed to higher and Europe higher.
Gold lower with silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is flat. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $138.44 from $138.52 with yields at 0.674%.
Positive Sectors On Tuesday: Technology, Real Estate, Consumer Cyclical and Industrials of note.
Negative Sectors On Tuesday: None of note.
One Month Winners: Real Estate, Industrials, Financials and Consumer Cyclical 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: HTHT WUBA ABM of note.
Thursday Before The Open: KR CMC MEI DBI of note.
Earnings This Morning Of Note
None of note.
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day. (Bloomberg)
Coronavirus update: UV Light can weaken the virus. (CNBC)
HSBC to cut 3,500 jobs. (Reuters)
Stock Index Tracking
Current through 6/16 close. Tuesday saw more improvement of various moving averages.
Bold means a change from prior day.
The advance/decline line model is now a BUY. Updated through 6/16 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 6/15 close. EVL Ranges will start to expand again with the recent action.
Economic & Related:
API Petroleum Institute Weekly Inventories are due out at 4:30 p.m. EDT. Crude Oil builds 3.86 million. Gasoline build 4.72 million. Cushing draw 3.29. Distillate build 920K.
MBA Mortgage Application Index rose 8.0% after rising 9.3% last week.
May Housing Starts is due out at 8:30 p.m. EDT and is expected to rise to 1,170,000 from 891,000.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Geopolitical & Related
President Trump will announce the PREVENTS Task Force roadmap at 2:00 p.m. EDT.
Federal Reserve Chairman Powell moves to his second day of semiannual monetary policy testimony before the House.
OPEC begins a two days of committee meetings to review market conditions and make policy changes.
There will be a 30 Year Bond Auction at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: CNI AJG FMC (Investor/Analyst Meeting) THC JAZZ (Update) VZ VRNT OVID CHFS (Webinar).
Sellside Conferences: Raymond James Human Health Innovation Conference (6/15-6/18). Evercore ISI Virtual Consumer & Retail Summit (6/15-6/17). Raymond James BioConnect Institutional Conference (6/16-6/17). JP Morgan Energy, Power & Renewables Conference (6/16-6/17). Oppenheimer Annual Consumer Growth & E-Commerce Conference 2020 (6/16-6/17). Baird’s Food, Fuel, and Water Symposium (6/17).
Industry Conferences: NASDAQ London Investor Conference (6/15-6/17). Capital Link 10th Annual Operational Excellence in Shipping Forum 2020 (6/16-6/17).
Upgrades & Downgrades: Raymond James upgraded a ton of banks to outperform. Only a couple to Strong Buy.
updated through 8:55 a.m. EDT