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09.25.2020 11 new Morning Note posts under Morning Note (10) and General (1)

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Morning Note

"CAPIS Morning Note -8/5/20 Futures Stronger At Mid Week, Stimulus Talks Continue"

posted by CAPIS on 08/05/2020 at 6:24 am

by CAPIS

08/05/2020 at 6:24 am

Covid-19 Update With Tuesday Data

Cases reported 51, 568 from 49,561

Tests 695,586 from 731,690

Positivity Rate 7.41% from 6.77%

Deaths 1,176 from 519

Hospitalizations 53,161 from 53,289

Mortality Rate 3.14% from 3.15%

source COVID tracking project

IPOs Priced: Rackspace Technology (RXT) priced IPO at $21 a share at low end of range $21 to $24. BigCommerce (BIGC) prices IPO at $24 above range of $18 to $20.

Secondaries Priced:  VCYT KNSL IMUX  of note.

Notes Priced of note: None of note.

Common Stock filings: AVLR  of note.

Mixed Shelf Offerings:  of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beats:

RGA +2.21, ALL +0.84, AIZ +0.78, DIS +0.72, JAZZ +0.60, FNF +0.38, COHR +0.31, CNO +0.28, ENTA +0.25, LPSN +0.24, CMP +0.22, ETH +0.22, MDU +0.21, KAR +0.19, LMNX +0.19, TX +0.19, INGN +0.18, ICFI +0.17, TWLO +0.17, ATVI +0.16, CDK +0.16, ANET +0.16, ACHC +0.15, MRCY +0.15, AVLR +0.14, LOPE +0.14, PRU +0.13, EQH +0.13, BMRN +0.13, BOOT +0.13, MCHP +0.12, NEWR +0.12, OEC +0.12, CORT +0.11, ACLS +0.11, GDOT +0.11, VRSK +0.10, MNST +0.10, MODN +0.09, WK +0.09, CDLX +0.09, TSLX +0.09, DVN +0.08, CDNA +0.08, GTES +0.07, ONTO +0.07, ORA +0.07, NUVA +0.07, FMC +0.06, TRUP +0.06, WU +0.06, EXR +0.05, FOXA +0.05, NPTN +0.04, EVTC +0.04, MTCH +0.03, PLMR +0.03, TRHC +0.03, ALSN +0.03, ENPH +0.03, PPD +0.03, UPWK +0.03, VAPO +0.02, KTOS +0.02, OMI +0.01, PXD +0.01, FOE +0.01  of note.

Flat:  BYND +0.00, PEAK +0.00, PAYC +0.00, QGEN +0.00

Misses: 

WYNN (1.23), DK (1.00), WW (0.51), IOSP (0.49), INSP (0.31), AFG (0.29), MTG (0.15), PLNT (0.15), AKCA (0.14), GLUU (0.13), RRR (0.10), EZPW (0.09), PUMP (0.08), EVER (0.06), LC (0.06), NVTA (0.05), UIS (0.03), ORCC (0.03), NKLA (0.02), PAA (0.01), OI (0.01) of note.

Hourly Tracking – Updated Through 8/4

News After The Close:

Novavax (NVX) announces Phase I data from its Phase I & II trial for its Covid-19 vaccine.

NASDAQ July metrics – Options 218 million versus 230 million in June and 143 million in July 2019.

U.S. and China to hold trade talks on August 15th as China not reaching targets. (WSJ)

White House says a long way from a stimulus bill.

President Trump says will not shut down economy again and jobs report will see a big number. (Fox)

Walmart (WMT) delays Walmart+ membership program according to Recode.

Raises Guidance Raised: LMNX ATVI AVLR MTCH ENPH JAZZ WK UPWK MODN 

Lowers Guidance: TGI NEWR

Raises Dividend: CABO KNL

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 +202 NASDAQ +10   Russell 2000 +19.49.  Fair values are  lower.  Asia mixed and Europe higher. VIX is at 25.45 this morning.

Gold, silver and copper higher. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $140.19 from $140.11 with yields at 0.544% from 0.526%.

Positive Sectors On Tuesday:  Energy, Materials and Real Estate.

Negative Sectors On Tuesday: Healthcare 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:

NVAX +18%, FLGT +16%, LPSN +14%, FVRR +10%, SQ +9%, GRBK +9%, CLW +8%, VMD +7%, AIZ +7%, KNL +7%, LMNX +7%, GTES +6%, BOOT +6%, DIS +6%, PERI +6%, EVH +6%, PEAK +5%, VRT +5%, SLRC +5%, RGA +5%, DVN +5%, GFI +5%, DK +5%, MDU +5%, CVS +5%, REGN +4%, CMP +4%

Gap Down: 

VAPO -29%, ONTO -25%, NEWR -18%, CDLX -13%, NKLA -12%, NPTN -9%, BYND -9%, EZPW -9%, UPWK -9%, NVTA -8%, WW -8%, CORT -8%, GLUU -7%, MCHP -7%, ETH -7%, ERJ -7%, ANET -6%, ACHC -6%, EVER -6%, AVLR -5%, ENPH -5%, UIS -5%, TRHC -5%, TWLO -4%

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

Today After The Close: FISV PSA MET FNV RMD MFC CVNA AWK ANSS WELL CTVA PTON ROKU ETSY WDC VAR  of note.

Thursday Morning:  BMY BDX ZTS AEP BCE BLL PH CNQ HLT ALNY QSR CQP CAH EPAM VIAC ABMD NICE LNG AES XRAY CNP of note.

Earnings This Morning Of Note

Beat: 

HUM +6.51, W +2.08, REGN +1.20, NXST +0.95, WD +0.71, CVS +0.70, ASTE +0.62, ATH +0.54, CLH +0.51, HEP +0.44, ROCK +0.41, AEIS +0.36, SRE +0.33, BWA +0.32, CRL +0.30, OSB +0.28, ABC +0.26, LL +0.22, SQ +0.22, WWW +0.20, CDW +0.18, FVRR +0.17, HSC +0.17, PRGO +0.16, DNOW +0.16, NYT +0.15, MIDD +0.13, NLSN +0.11, EVOP +0.10, LVGO +0.10, GCP +0.10, BV +0.10, CPRI +0.07, SSYS +0.07, BIP +0.07, EXTR +0.06, TRI +0.06, DISCA +0.05, IONS +0.05, NI +0.05, MRNA +0.05, PSN +0.05, HZNP +0.04, REYN +0.03, TCP +0.03, INMD +0.03, STWD +0.02, TEVA +0.02, ARES +0.01, WEN +0.01 of note.

Flat: EVRG +0.00

Missed:

GEL (2.92), SBGI (1.92), ERJ (1.08), BCOR (0.45), ALE (0.20), FUN (0.18), ODP (0.15), ENR (0.09), AVA (0.07), GOLF (0.04), STOR (0.02), ENBL (0.01) of note.

Still to Report: 

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 8/3. Stocks saw continued strength on Tuesday.

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: Global deaths pass 700,000. (CNBC)

Senate Majority Leader McConnell will support any stimulus deal. (Reuters)

White House want stimulus deal by the end of the week. (WSJ)

President Trump says explosion in Beirut was an “attack”. (The Hill)

Stock Index Trading

Current through 8/4 close. Yesterday saw all indexes remain above all their moving averages.

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 8/4 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 

API Petroleum Institute Data was released yesterday at 4:30 p.m. EDT and.

July ADP Unemployment Report is due out at 8:15 a.m. EDT and expected to fall 1.60 million from 2.37 million last month. Actual 167K with June revised to 4.3M.

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

Geopolitical & Related

President Trump will meet with the Governor of Arizona at 3:00 p.m. EDT. Then the president will participate in a tele-rally for Tennessee Republican Senate Candidate Bill Hagerty at 7:45 p.m. EDT.        

Meetings, Calls & Conferences

 CMPR  (Investor Conference) COST (Monthly Sales Call) APTX (R&D Day)

Sellside Conferences: William Blair Biotech Focus Conference (8/4-8/6) Jefferies Global Industrial Conference (8/5-8/6) Barclays Select Series: Building and Building Products Conference (8/5) Piper Sandler Financial Services Conference (8/5-8/7)

Industry Conferences:  IBM Integration Technical  Conference (8/3-8/6). SNN Network Virtual Investor Conference (8/3-8/6)

M&A

Livongo Health (LVGO) and Teledoc (TDOC) will merge with Teledoc controlling 58%.

Upgrades & Downgrades – Wednesday Up & Down Recs – Credit Suisse resumes coverage of many energy names but not a single one goes to buy. Energy is a struggle.

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.