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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 – 8/6/20 Futures Negative But Off Lows On Better Jobless Claims"

posted by CAPIS on 08/06/2020 at 6:03 am

by CAPIS

08/06/2020 at 6:03 am

Covid-19 Update With Wednesday Data

Cases reported 51,825 from 51, 568

Tests 664,219 from 695,586

Positivity Rate 7.80% from 7.41%

Deaths 1,176 from 519

Hospitalizations 53,297 from 53,161

Mortality Rate 3.13% from 3.14%

source COVID tracking project

Chart of the Week:

The U.S. Dollar remains in a downtrend. Many are calling for a bottom.

IPOs Priced: Acutus Medical (AFIB) priced at $18  which is on high end of $16 to $18 range. Rocket Companies (RKT) priced at $18 with range of $20 to $22. Oak Street health priced at $21 weith range of $15 to $17.

Secondaries Priced:  AVLR TWOU SLP SPCE APRN of note.

Notes Priced of note: None of note.

Common Stock filings: HZNP STRA TWOU APRN TWLO W AJX of note.

Mixed Shelf Offerings:  GBT PXD STRA COP MAC  of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beats:

UHAL +2.69, BLUE +2.16, ECPG +2.04, SUN +1.22, CPA +1.20, BFAM +1.02, CWH +1.01, LHCG +0.44, RE +0.42, NVRO +0.41, ANSS +0.39, ARNA +0.39, PLUS +0.38, ETSY +0.36, PRI +0.36, HI +0.35, JACK +0.34, PDCE +0.34, DLPH +0.31, ENDP +0.31, CF +0.29, GBT +0.28, CCMP +0.26, PAAS +0.26, RMD +0.25, RGLD +0.23, ENSG +0.22, FOXF +0.22, RCII +0.20, VOYA +0.19, CCRN +0.19, ATO +0.19, ROKU +0.18, ATSG +0.18, GMED +0.18, CVNA +0.17, MFC +0.17, SPWR +0.17, SYNA +0.17, NUS +0.16, ACAD +0.16, PE +0.15, ALB +0.14, ELF +0.13, TRMB +0.13, CXW +0.12, KRO +0.12, ALRM +0.11, MTW +0.11, CHNG +0.10, CTL +0.10, DAR +0.09, NMIH +0.09, QTWO +0.09, PVG +0.08, VGR +0.08, CDAY +0.07, TWNK +0.07, RYN +0.07, HUBS +0.06, NUAN +0.06, KWR +0.06, CUB +0.06, OHI +0.05, INFN +0.05, OR +0.05, WTRG +0.05, IMMU +0.05, MRO +0.04, TTGT +0.04, APPS +0.04, LASR +0.04, SJI +0.04, MATX +0.03, WELL +0.03, ADTN +0.03, FSLY +0.03, DOX +0.02, CTVA +0.02, KBR +0.02, SILK +0.02, MWA +0.02, STAA +0.02, HR +0.01, HCC +0.01, WDC +0.01, ZIXI +0.01  of note.

Flat: AWK +0.00, FISV +0.00, FNV +0.00, IAG +0.00, INSG +0.00, PGNY +0.00

Misses: 

GDDY (4.22), PTCT (1.22), MBI (0.88), COLL (0.63), LYV (0.58), SONO (0.44), FRT (0.41), LNC (0.41), SGMO (0.37), ADT (0.36), OLN (0.29), ZNGA (0.23), CHX (0.20), SRPT (0.20), EPR (0.19), TWO (0.18), AEL (0.15), ET (0.14), NTRA (0.14), SPT (0.11), DCP (0.10), CSGS (0.10), FATE (0.10), MET (0.08), OSUR (0.08), PSA (0.07), PK (0.04), OUT (0.04), DDD (0.03), ZGNX (0.02), BNFT (0.01), XEC (0.01), FTDR (0.01), HRTX (0.01), VSLR (0.01), BLDP (0.01), BTG (0.01) of note.

Hourly Tracking – Updated Through 8/4

News After The Close:

Costco (COST) sees July Comps +13.2%  and prior month was +11.8%.

Secretary of State Pompeo states that he wants “untrusted” Chinese Apps removed from App stores.

Stimulus talks end for day without any real progress.

Infinera (INFN) CEO Tom Fallon to step down by the end of 2020. David Heard to succeed Fallon.

Facebook (FB) removes post from President Trump on incorrect comments on Covid-19.

Raises Guidance Raised: ALRM FSLY NTRA SYNA ETSY HUBS GDDY RCII NUS HI 

Lowers Guidance: NUAN WDC ZNGA  CCRN

Raises Dividend: TRNO

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 hit a low point in front of the Jobless Claims data and now we see some improvement but still negative.

S&P 500 -7  Dow Jones Industrial Average -27 NASDAQ -13   Russell 2000 +2.86.  Fair values are  lower.  Asia mixed and Europe lower. VIX is at 25.43 from 25.45 this morning.

Gold and silver lower with copper higher. WTI Crude Oil lower and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $140.20 from $140.19 with yields at 0.531% from 0.544%.

Positive Sectors On Tuesday: Materials, Industrials and Energy.

Negative Sectors On Tuesday: Utilities, Real Estate and Consumer Defensive 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:

AVCT +121%, AVXL +29%, APPS +25%, OTRK +24%, BFAM +13%, INFN +12%, ELF +11%, EMKR +10%, YETI +10%, TRMB +8%, GLRE +8%, HIMX +7%, MAXR +7%, MTW +7%, VVI +7%, COLL +77%, HUBS +7%, LEGN +6%, GDDY +6%, HI +6%, PVG +6%, GMED +6%, UHAL +5%, FISV +5%, NTRA +5%, COMM +5%, BMY +5%, CHNG +5%, RCII +5%, STFC +5%, JACK +5%, PK +4%, NUS +4%, DCP +4%, KBH +4%, ECPG +4%

Gap Down: 

OSUR -19%, FSLY -18%, CENX -15%, APRN -15%, SONO -11%, WIX -11%, WDC -11%, RGLD -10%, CUB -10%, ADT -9%, LASR -9%, INSG -9%, STRA -8%, CWH -8%, STAA -8%, PTCT -7%, ZIXI -6%, RMD -6%, OLN -6%, RIG -5%, MUR -5%, RBBN -5%, TWOU -5%, DDD -5%, SPT -5%, AEL -4%, XRAY -4%, ROKU -4%

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

Today After The Close: TMUS BKNG ILMN UBER DDOG RSG EOG WCN ED MSI SLF FTNT TTD AEE ZG LNT of note.

Friday Morning: VTR MGA UI KIM VIRT ESNT CNNE NJR HMSY SABR NWN CSIQ UFS SSP ROAD TILE of note.

Earnings This Morning Of Note

Beat: 

TEN +1.38, PH +1.05, NRG +0.76, FOUR +0.63, KELYA +0.62, PENN +0.52, VSTO +0.51, IBP +0.37, VIAC +0.32, HFC +0.28, PWR +0.27, ABMD +0.27, MMS +0.26, ZTS +0.25, EPAM +0.25, YETI +0.25, NOVT +0.25, CQP +0.24, MUR +0.22, EXLS +0.22, SEE +0.21, SRCL +0.19, KTB +0.18, MEET +0.18, PBH +0.16, BMY +0.16, CNQ +0.15, CAH +0.15, BDX +0.13, COMM +0.13, FLIR +0.13, EYE +0.12, IRM +0.10, WLK +0.10, EAF +0.10, THS +0.10, FOCS +0.10, WMS +0.10, SYNH +0.09, BLL +0.09, GTN +0.08, PLUG +0.07, CORE +0.07, NTLA +0.06, IRWD +0.06, NICE +0.05, NOMD +0.04, SERV +0.04, ACIW +0.04, QSR +0.03, OGE +0.03, AEP +0.03, CFX +0.03, AMRX +0.03, AES +0.01, HL +0.01, CNP +0.01 of note.

Flat: HIMX +0.00, VG +0.00, SHYF +0.00, VER +0.00, LXP +0.00

Missed:

HII (2.84), LAUR (2.03), MYL (0.90), MDGL (0.75), ADNT (0.72), WIX (0.51), NCLH (0.50), JLL (0.32), HLT (0.31), CRON (0.22), BHC (0.19), LAMR (0.18), XRAY (0.16), ECOM (0.08), CCOI (0.06), BCE (0.06), STNG (0.04), CWEN (0.03), AAON (0.03), INSM (0.02), PZZA (0.01), SATS (0.01) of note.

Still to Report: ALNY, AAWW, BPMP, LNG, CHH, HWM, IHRT, NSIT, IDCC, PCRX, DOC, PNW, TRGP, USPH

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 Wednesday.

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 Thursday. (CNBC)

Stocks Making The Biggest Moves (CNBC)

Corona Virus Update: Dr. Fauci notes that politics do not influence vaccine, Astra Zenecca (AZN) strikes a deal. (CNBC)

Senate Majority Leader McConnell notes still far apart on stimulus deal. (Reuters)

As noted in Geopolitical, NY Attorney General Letita James to make a major announcement at 11:30 a.m. EDT. (City Central)

Google (GOOGL) pulled down 2,500 YouTube Channels tied to China disinformation. (Reuters)

Deutsche Bank (DB) was subpoenaed in case involving President Trump’s tax records. (NYT)

Pool sales in the U.S. are rising due to coronavirus. (Reuters)

Stock Index Trading

Current through 8/5 close. We remain in “as good as it gets” mode as 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 8/5 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 Jobless Claims are due out at 8:30 a.m. EDT. Came in at 1.18M versus estimates of 1.46M.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

Geopolitical & Related

President Trump will head to Cleveland, OH and deliver comments on the economy at 1:15 p.m. EDT then head to Whirlpool (WHR) at 2:40 p.m. EDT where he tours their plant. Later he attends a fundraiser in the Cleveland area at 5:25 p.m. before heading to Bedminster, NJ and Trump National.

Bank of England (BOE) was out with their latest update and cautious.

New York Attorney General holds a press conference at 11:30 a.m. EDT and is likely to issue orders on the Trump Lawsuit.

Meetings, Calls & Conferences

MOG.A EXPI (Investor Conference)  DRNA (R&D Day) GM (Presentation) CGC (Fireside Chat)

Sellside Conferences: William Blair Biotech Focus Conference (8/4-8/6) Jefferies Global Industrial Conference (8/5-8/6)  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

Upgrades & Downgrades – Thursday update,

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