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Morning Note

News

Morning Note

"CAPIS Morning Note – 7/29/20 FOMC Out At 2:00 P.M. EDT With Latest Release and 2:30 P.M. EDT Press Conference"

posted by CAPIS on 07/29/2020 at 5:56 am

by CAPIS

07/29/2020 at 5:56 am

Covid-19 Stats For Tuesday:

Reported Cases yesterday: 53,507 from 55,134.

Tests 733,243 from 760,840

Positivity Rate: 7.30% from 7.25%

Deaths 1,121 from 1,059

Current Hospitalizations 57,091 from 59,023

source COVID tracking project

IPOs Priced: None of note.

Secondaries Priced:  TCRR BTAI ARCT  of note.

Notes Priced of note: None of note.

Common Stock filings: ARCT CALX of note.

Mixed Shelf Offerings:  HFWA SHOP of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

CYH +1.68, RNR +1.33, UMBF +0.96, ENVA +0.76, PKI +0.74, AMED +0.53, DXCM +0.53, CSGP +0.53, BYD +0.52, AMGN +0.48, AXS +0.48, CHRW +0.45, THG +0.41, KAI +0.31, HP +0.31, PLT +0.31, TRMK +0.26, CE +0.25, CAR +0.24, ASH +0.23, AFL +0.23, SYX +0.23, AKAM +0.17, ATRC +0.16, WH +0.16, FCF +0.15, SSNC +0.14, OMCL +0.14, MRC +0.13, ACCO +0.12, MTDR +0.12, FEYE +0.11, SBUX +0.11, PKG +0.11, FTV +0.10, APAM +0.10, TENB +0.09, MPWR +0.08, IMAX +0.08, MDLZ +0.07, MASI +0.06, EGP +0.05, HIW +0.04, NCR +0.03, V +0.03, EBAY +0.02, EQR +0.02, LSCC +0.02, UNM +0.02, WRE +0.02, MXIM +0.02, AMD +0.01, JNPR +0.01, STAG +0.01 of note.

Misses: 

HA (0.39), BXP (0.22), OKE (0.19), CB (0.17), DENN (0.07), UDR (0.06), PEGA (0.06), NWE (0.06), STX (0.03), RXN (0.02), HLI (0.01) of note.

Hourly Tracking -Will return tomorrow as we are doing an overhaul to it.

News After The Close:

Democratic Presidential Candidate Joe Biden says he will pick his VP choice next week.

President Trump holds another head scratcher of a news conference where he again simply walks away.

Moderna (MRNA) looks to price their vaccine at $50 to $60 a shot.

Eastman Kodak (KODK) to produce ingredients for vaccines and generic.

Raises Guidance Raised: FIRE DXCM MPWR SBUX AMD PKI

Lowers Guidance: STX

Raises Dividend: APAM

Cut Dividend:

Stock Split Announcement: 

Stock Buyback: 

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 +11  Dow Jones Industrial Average +64 NASDAQ +68  Russell 2000 +9.94.  Fair values are lower.  Asia mixed and Europe mixed. VIX is at 27.15 from 27.77 this morning.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is flat vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $139.66 from $139.47  with yields at 0.595%.

Positive Sectors On Tuesday:  Real Estate and Utilities of note.

Negative Sectors On Tuesday: Materials, Technology, Energy and Consumer Cyclical of note.

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

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

Six Month Winners:  Technology,Consumer Cyclical and Healthcare 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:

LB +18%, FEYE +12%, AMD +11%, CAR +10%, AGYS +9%, CYH +7%, UMC +7%, SBUX +5%, BXP +%, PLT +5%, IAA +4%, IMAX +4%, BYD +4%, CRTX +4%, JNPR +4%

Gap Down: 

STX -9%, ALEC -8%, BCS -5%, DENN -4%

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

Today After The Close: FB PYPL QCOM NOW CCI EQIX LRCX CTSH ORLY ADM of note.

Tomorrow Morning:  LM PG MA CMCSA LLY AZN AMT UPS BUD CI SO MMC MCO NEM of note.

Earnings This Morning Of Note

Beat:

ANTM +3.41, BG +2.57, GM +1.26, SHOP +1.04, MGLN +1.04, BCO +0.79, TUP +0.60, OC +0.60, BKU +0.59, AER +0.52, TT +0.51, GRMN +0.50, SF +0.50, EEFT +0.41, UTHR +0.40, STRA +0.37, MNRO +0.37, SMG +0.37, AAN +0.36, SITE +0.32, CRTO +0.31, TROW +0.26, PB +0.25, WNC +0.20, UMC +0.19, BDC +0.19, TEL +0.18, ADP +0.18, SLAB +0.17, SAIA +0.17, ETN +0.17, JHG +0.15, LIVN +0.15, FLOW +0.15, ETR +0.11, WING +0.10, BSX +0.10, CLS +0.10, SHOO +0.08, BXMT +0.08, HES +0.07, SNY +0.06, ALKS +0.06, GIB +0.06, ROL +0.05, ENB +0.03, RES +0.03, DT +0.03, IPG +0.03, PAG +0.02, NYCB +0.02, GD +0.01, RDWR +0.01, EPD +0.01 of note.

Flat: 

Missed:

BA (2.16), SPOT (1.45), SIX (0.63), SC (0.34), GWB (0.14), CCJ (0.11), FDP (0.09), GE (0.06), CHEF (0.04), AXTA (0.04), CME (0.01), MTOR (0.01), GSK (0.01) of note.

Still to Report: APHA, DIN, FSS, MHO, NSC, R, SMP

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. Close 7/27. Stocks fell on Tuesday in a late afternoon selloff.

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)

5 Things to Know Before The Market Opens On Wednesday. (CNBC)

Stocks Making The Biggest Moves (CNBC)

Corona Virus Update: CA, FL and TX see average daily deaths hit a new high. (CNBC)

Senate Majority Leader McConnell says no negotiations over liability protections. (CNBC)

Conservative Republicans are against new stimulus. (Bloomberg)

Google (GOOGL) in discussions with Samsung to take over more of its search functions. (Bloomberg)

Stock Index Trading

Current through 7/28 close. Indexes moved back below some key moving averages thanks to the afternoon selloff.

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 7/28 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 came out at 4:30 p.m. EDT yesterday and crude oil inventories rose 7 million barrels while .

Weekly MBA Mortgage Applications were out at 7:00 a.m. EDT and

June Pending Home Sales are due out at 10:00 a.m. EDT and expected to rise to 17% but down from 44.3% last month.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Geopolitical & Related

President Trump 

House Hearing on Social Media with Facebook (FB), Google (GOOGL), Amazon (AMZN) and Apple (AAPL) CEOs

Federal Reserve Open Market Committee (FOMC) concludes its two day meeting that results in their announcement at 2:00 p.m. EDT and a press conference at 2:30 p.m. EDT.

Meetings, Calls & Conferences

QLYS (Analyst Meeting) LOGM DELL (Update)

Sellside Conferences: KBW Community Bank Investor Conference (7/28-7/30)

Industry Conferences:  Alzheimer’s International Conference (7/27-7/31)

M&A

Upgrades & Downgrades – Lots of upgrades from fourth and fifth tier firms we do not track.

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.