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Morning Note

News

Morning Note

"CAPIS Morning Note 7/15/20 Futures El Fuego On Moderna (MRNA) Vaccine Data"

posted by CAPIS on 07/14/2020 at 8:28 pm

by CAPIS

07/14/2020 at 8:28 pm

IPOs Filed: None of note.

Secondaries Priced:  ZYXI of note.

Notes Priced of note:  None of note.

Common Stock filings: ZYXI  of note.

Mixed Shelf Offerings: ADPT 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.

Hourly Action This Past Week: Updated 7/14 Close

News After The Close (In Order)

Diamondback Energy (FANG) revises Fiscal year 2020 production guidance lower.

PVH Inc. (PVH) to restructure- exit 162 outlet store Heritage Brands and cut workforce by 12%.

Bank runs on the rise in China thanks to social media. (Bloomberg)

Moderna (MRNA) sees its data on Covid-19, patients vaccinated produced antibodies. Result in New England Journal of Medicine.

President Trump held a press conference mostly on China but was mostly an attack on Democratic Presidential Candidate Biden.

Supreme Court Justice Ginsburg hospitalized and will stay in for a few days per CNBC.

President Trump signs bill holding China accountable for taking over Hong Kong.

Wells Fargo (WFC) CFO does not expect dividend to go to zero.

Raises Guidance: SIGI

Raises Dividend: SWK

Stock Buyback: SIRI ($2 billion)

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 +40  Dow Jones Industrial Average +511  NASDAQ +35   Russell 2000 +43.54.  Fair values are higher.  Asia mixed and Europe lower. VIX is lower at 28.28 from 32.75 yesterday morning.

Gold lower with silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.13 from $139.30 with yields at 0.646%.

Positive Sectors On Tuesday: Materials, Energy and Industrials of note.

Negative Sectors On Tuesday: None of note.

One Month Winners: Technology. Materials and Consumer Cyclical of note.

Three Month Winners: Consumer Cyclical, Technology and Materials of note.

Six Month Winners:  Technology 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: VBIV +19%, MRNA +13%, PRQR +11%, LCII +10%, STNG +6%

Gap Down: ZYXI -13%, VHC -9%

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

Today After The Close: CNS AA  SNBR ADTN of note.

Thursday Before The Open: JNJ TSM BAC ABT HON MS SCHW TFC DPZ DOV WSO SBNY SON WNS HOMB BMI HTLD FLR ANGO of note.

Earnings This Morning Of Note

Beat:

UNH +3.08, GS +2.35, BK +0.09, USB +0.03 of note.

Missed:

PNC (2.65), ASML (0.27) of note.

Still to Report: PGR

Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy.

Courtesy of Phil Erlanger Research Inc.

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: 3M works on antibodies test and profits hit by virus. (CNBC)

CDC Director Robert Redfield notes that if everyone wears masks that the virus could be over in 4-8 weeks. (Axios)

U.S. and China relationship continues to deteriorate. (NYT)

OPEC holds a Joint Ministerial Monitoring Committee (JMMC) meeting and outcome could dictate prices. (CNBC)

EU Court says Apple (AAPL) does not have to pay $15 billion of taxes. (CNBC)

Oxford University vaccine study could be complete by September. (Bloomberg)

In Alabama former Auburn football coach Tommy Tuberville beat Jeff Sessions in a Republican primary. (NYT)

Texas county gives $1.1 billion of tax breaks if Tesla (TSLA) moves there. (CNBC)

Stock Index Tracking

Current through 7/14 close.

Bold means a change from prior day.

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 7/14 close. EVL Ranges  continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App  store at APP(GO).

Courtesy of Phil Erlanger Research, Inc.

Economic

Weekly API Petroleum Institute Data was out at 4:30 p.m. EDT and came in with a drop of 8.3 million barrels and gasoline fell 3.6 million barrels.

Weekly MBA Mortgage Applications came in at +5.1% from +2.2% last week.

June Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 4.6% from 1.4%.

The July New York Fed Empire State Manufacturing Survey is due out and is expected to climb to 10 after several negative month back to back.

June Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 4.6% from 1.4%.

The Bank of Japan (BOJ) was out with its latest decision on interest rates and cut forecast but left rates unchanged.

Geopolitical & Related

President Trump will receive an executive briefing on crime and MS-13 at 11:00 a.m. EDT.  Then the president heads to Atlanta to deliver remarks at a UPS Airport Hub.

Federal Reserve Philadelphia President Patrick Harker to speak at 12:00 p.m. EDT.

Meetings, Calls & Conferences

AGI (Webcast)  CYTK (Investor Day) ALIM (Conference Call)

Sellside Conferences: None of note.

Industry Conferences: Society of Nuclear Medicine and Molecular Imaging Annual Meeting (7/11-7/14). International Society on Thrombosis and Haemostasis Virtual Congress (7/12-7/14)

M&A

Upgrades & Downgrades

Updated Through 8:35 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.