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Morning Note

News

Morning Note

"CAPIS Morning Note – 7/31/20 Hong Kong Delays Elections"

posted by CAPIS on 07/31/2020 at 6:15 am

by CAPIS

07/31/2020 at 6:15 am

Covid-19 Stats For Thursday:

Reported Cases yesterday: 69,917 from 66,211

Tests 819,270 from 839,868

Positivity Rate: 8.53% from 7.88%

Deaths 1,291 from 1,418

Current Hospitalizations 56,462 from 57,306

source COVID tracking project

IPOs Priced: Vital Signs (VITL) priced at $22 with range of $15 to $17 of note. Vista Outdoor (VSTO) priced at $19 above range of $15.50 to $17.50.

Secondaries Priced: TENB of note.

Notes Priced of note: None of note.

Common Stock filings:  None of note.

Mixed Shelf Offerings:  RPM ELS of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beats:

AMZN +8.68, RARE +2.03, GOOG +1.90, CACC +1.85, DECK +1.39, EBS +1.34, MTD +1.07, SSB +0.87, F +0.81, DLX +0.80, QDEL +0.77, DVA +0.65, HTH +0.59, TEX +0.56, VRTX +0.53, AAPL +0.51, HURN +0.49, BIO +0.46, SGEN +0.43, FB +0.42, SM +0.35, BLDR +0.32, SEM +0.31, BGS +0.31, WWE +0.30, FLS +0.25, BAND +0.22, INT +0.22, EA +0.22, ADSW +0.19, BEAT +0.19, SPXC +0.18, MGM +0.18, RDFN +0.16, MTZ +0.16, LOCO +0.15, HUBG +0.15, KNSL +0.15, ATR +0.14, FHI +0.14, XPO +0.14, NVST +0.13, NXGN +0.13, LPLA +0.13, X +0.12, CRY +0.12, BRKS +0.12, PFPT +0.12, COLM +0.11, GLPI +0.10, MTX +0.09, ACA +0.08, RP +0.08, CVA +0.08, PRO +0.08, EXAS +0.07, SYK +0.07, CC +0.07, AJG +0.06, DLR +0.06, MDRX +0.06, FLEX +0.06, FND +0.06, MX +0.06, MITK +0.06, SPSC +0.06, VRTU +0.06, CXP +0.05, TWOU +0.05, EGHT +0.05, EXPO +0.05, FORM +0.05, TEAM +0.04, HOPE +0.04, ZEN +0.04, AIMT +0.03, PEB +0.03, COG +0.03, ATUS +0.03, SWN +0.03, FWRD +0.02, HST +0.02, POWI +0.02, OFC +0.01, NATI +0.01   of note.

Flat: FTAI +0.00, HIG +0.00, XLNX +0.00

Misses:  

EXPE (0.84), CUZ (0.50), GILD (0.34), SKYW (0.30), DRQ (0.25), CPT (0.22), TNDM (0.20), NTUS (0.18), MOH (0.16), SHAK (0.07), MERC (0.06), BVN (0.01), ES (0.01), HTGC (0.01) of note.

Hourly Tracking – Updated Through 7/29

News After The Close:

Take-Two (TTWO) announces partnership with NFL Players Association to label players in games.

Jack In The Box (JACK) CFO Lance Tucker leaves.

There will be a moderate delay on the latest Apple (AAPL) iPhone this fall. Announces a 4:1 stock split.

Strong gains from tech giants Facebook (FB), Apple (AAPL), Amazon (AMZN) and Google (GOOGL).

President Trump asks survivors of Covid-19 to donate blood plasma.

Raises Guidance Raised: GILD PFPT FORM BRKS 

Lowers Guidance: ERTS

Raises Dividend:

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. 

S&P 500 +18  Dow Jones Industrial Average +72 NASDAQ +200  Russell 2000 -5.4.  Fair values are  lower.  Asia lower ex Shanghai and Europe mixed. VIX is at from 27.15 this morning.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $140.08 from $139.92  with yields at 0.543%.

Positive Sectors On Thursday:  Communication and Technology.

Negative Sectors On Thursday: Energy, Materials, Financials and Industrials 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:

TLSA +48%, AXGT +34%, HURN +13%, HTH +12%, SEM +10%, BRKS +10%, INT +9%, INT +9%, NOK +9%, EBS +9%, DBVT +8%, MDRX +8%, TNDM +8%, TEX +7%, WWE +7%, FLEX +7%, ATUS +7%, FB +6%, AAPL +6%, CVA +6%, VRTU +6%, AMZN +6%, BEAT +5%, BAND +5%, GLPI +5%, BLDR +5%, CAT +5%, DLX +4%, RDUS +4%, MTZ +4%, BNTX +4%, LOCO +4%, JCI +4%

Gap Down: 

WRTC -7%, TEAM -7%, EXPE -6%, RDFN -5%, SHAK -5%, PRO -5%, MOH -5%, XPO -5%, TWOU -4%, FORM -4%, EGHT -4%, GILD -4%

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

Today After The Close: BCC of note.

Monday Morning: GPN MAR CLX MCK MPC TSN MPLX CMS CNA NNN TKR EME MCY LGND CTB of note.

Earnings This Morning Of Note

Beat:

CHTR +1.00, IDXX +0.55, HRC +0.49, SLCA +0.44, SPB +0.43, BERY +0.37, MRK +0.32, CAT +0.31, BCPC +0.30, PSXP +0.29, LAZ +0.27, LHX +0.25, FCAU +0.22, ITT +0.20, JCI +0.19, PEG +0.18, GT +0.16, CHD +0.15, VFC +0.11, PNM +0.10, WY +0.10, PSX +0.10, POR +0.10, UAA +0.09, CBOE +0.08, SNA +0.08, BAH +0.07, PINS +0.06, CL +0.05, NVT +0.05, D +0.05, AON +0.04, ABBV +0.04, WPC +0.02, WETF +0.01 of note.

Flat: NWL +0.00

Missed:

CVX (0.70), PBF (0.23), XOM (0.10), CBRE (0.06), TU (0.01), LYB (0.01) of note.

Still to Report: AXL, CTS, ITW, IMO, SHLX, SRC

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 7/30. Stocks faltered on Thursday.

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 Friday. (CNBC)

Stocks Making The Biggest Moves (CNBC)

Corona Virus Update: U.S. cases up 67K and Sanofi/Glaxo get vaccine deal with the U.S . (CNBC)

Dr. Anthony Fauci and other health care officials to testify before the House today. (CNN)

Hong Kong delays elections.

Senators leave Washington for a long weekend with no stimulus deal. (Bloomberg)

White House offers to extend $600 a week unemployment insurance out four months but 20 GOP Senators against this offer. (CNBC)

Hurricane Isaias to hit Florida this weekend. (CNN)

Twitter hackers used phone based phising attack. (WSJ)

Stock Index Trading

Current through 7/30 close. Indexes moved back above some key moving averages thanks to the afternoon strength.

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 7/30 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 

June Personal Income is due out at 8:30 a.m. EDT and are expected to rise to -0.90% from -4.20%. Came in at -1.1%.

July Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 42 from 36.

July University of Michigan Sentiment (Final) is due out at 10:00 a.m. EDT and is expected to fall to 73 from 73.20.

Geopolitical & Related

White House Press Briefing at 10:30 a.m. EDT.

President Trump will meet with the National Association of Police Organizations Leadership at 11:30 a.m. EDT and then head to Tampa, FL to hold a  Campaign Coalitions Event with Florida Sheriffs at 3:30 p.m. EDT and then head to Pelican Golf Club in Belleair, FL where at 4:30 p.m. EDT he will participate in a COVID-19 Response and Storm Preparedness roundtable after which he will hold a fundraising event before heading back to Washington D.C.

Dr. Anthony Fauci and other health care officials to testify before the House today. (CNN)

Meetings, Calls & Conferences

SESN (Update) 

Sellside Conferences: None of note.

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

M&A

Upgrades & Downgrades – Friday Up & Down Recs

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