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"CAPIS Morning Note 6/26/20 Trader’s To End A Volatile Week"

posted by CAPIS on 06/26/2020 at 5:33 am

by CAPIS

06/26/2020 at 5:33 am

IPOs on deck: Akouos (AKUS) priced at $17 a share above range of $14 to $16.  Fusion Pharmaceuticals (FUSN) prices at $17 as well above range of $14 to $16. Advanced Photonix (API) priced at $20 above range of $16 to $18. PolyPid (PYPD) priced at $16 above range of $15 to $17. Albertson’s (ACL ) priced at $16 from $18 to $20 range.

IPOs Filed: None of note.

Secondaries Priced:  XERS TBIO PCG of note.

Notes Priced of note: XERS of note.

Common Stock filings:  SOLY FRG  of note.

Mixed Shelf Offerings: DHT of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

SNX +1.34, CAMP +0.08 of note.

Misses: 

NKE (0.55), PRGS (0.01) of note.

Hourly Action This Past Week: Updated 6/24 Close

News After The Close (In Order)

Federal Reserve  out with latest Stress Test and recommends banks to suspend dividends and limit share buybacks. (CNBC)

Verizon (VZ) is the latest to boycott Facebook (FB) until they fix hate speech, harassment and misinformation.

Facebook (FB) will put measures in place to fix issues of hate speech, harassment and misinformation. (WSJ)

Group 1 Auto (GPI) notes that profits are coming back quicker than expected.

Boeing (BA) wins $440 million Army contract.

Northrop Grumman (NOC) wins $330 million Navy contract.

House passes their Police Act Bill.

Senate passes Defense Authorization Act 90 to 7.

Raises Guidance: BIG

Dividend Raise: JWA

Share Repurchase Announcement: 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.

S&P 500 -9 Dow Jones Industrial Average -158  NASDAQ +1 Russell 2000 -3.11. Fair values are mixed.  Asia and Europe higher.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.91 from $139 with yields at from 0.66%.

Positive Sectors On Thursday: Financials, Materials and Energy of note.

Negative Sectors On Thursday: Utilities 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.

Gap Up: VXRT +29%, ALT +20%, SITC +13%, MNOV +10%, CAMP +7%, SPCE +7%, PRGS +6%, SNX +6%, XERS +4%.

Gap Down: SOLY -20%, DBVT -15%, TBIO -7%, APOG -6%, CYH -6%, FRG -4%.

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

Today After The Close: None of note.

Monday Before The Open: None of note.

Earnings This Morning Of Note

Beat:

WUBA +2.09 of note.

Missed:

 APOG (0.04) 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)

5 Things To Know Before Friday Open. (CNBC)

U.S. Coronavirus Map.

Daily Covid-19 cases in the U.S. make a new record. 29 states see increases. (NYT)

Covid-19 cases in the U.S. that are asymptomatic are made up of those in the 20 to 40 in age. (NYT)

Covid-19 Mortgage Bailouts explode. (CNBC)

Facebook (FB) will put measures in place to fix issues of hate speech, harassment and misinformation. (WSJ)

Trump Administration asks the Supreme Court to invalidate Obamacare. (WSJ)

Major ratings agency affirms Hong Kong rating and leaves outlook stable.

U.S. close to completion of Antitrust Investigation into Google (GOOGL). (Reuters)

Gap Inc. (GPS) to team up with Kanye West. (CNBC)

Stock Index Tracking

Current through 6/25 close.

Bold means a change from prior day.

The advance/decline line model remains a BUY and again we moved above +200. We need two days below -200 for a change. Updated through 6/25 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 6.83% with the S&P 500 lower by -4.55% through 6/25. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal is up 1.58% through 6/25.

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 6/25 close. EVL Ranges  continues to expand again with the recent action.

Courtesy of Phil Erlanger Research, Inc.

Economic

May Personal Income is due out at 8:30 a.m. EDT and is expected to fall by -6.0% from 10.5% in April.

June University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and expected to fall to 78.8 from 78.9.

Geopolitical & Related

President Trump will receive his intelligence briefing at 11:45 a.m. EDT. The president then delivers remarks to the American Workforce Policy Advisory Board Meeting.  Finally, the president leaves at 3:15 p.m. EDT to head to Trump National Golf Club in Bedminster, NJ.

Meetings, Calls & Conferences

BMY (Investor Meeting) HUM F (Sellside Sponsored Call)

Sellside Conferences: None of note.

Industry Conferences: Apple Worldwide Developer Conference (6/22-6/26). SEMICON China Trade Show (6/26-6/29)

M&A

Amazon (AMZN) to buy Zoox for $1 billion. (The Information)

Upgrades & Downgrades

Updated Through 8:45 a.m. EDT.

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.