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09.24.2020 11 new Morning Note posts under Morning Note (10) and General (1)

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Morning Note

"CAPIS Morning Note – 8/26/20 Durable Goods Rise 11.2%"

posted by CAPIS on 08/25/2020 at 8:22 pm

by CAPIS

08/25/2020 at 8:22 pm

Breaking News: July Durable Goods grew 11.2% against the estimate of +3.9%. 

Covid-19 Update With Latest Data

Cases reported 36,679 from 35,277

Tests 634,461 from 688,765

Positivity Rate 5.78% from 5.12%

Deaths 1,147 from 348

Hospitalizations 38,762 from 38,657

Mortality Rate at 2.96% no change

source COVID tracking project

Capital Raises

IPOs Priced: None of note.

Secondaries Priced: VNET CDAY of note.

Notes Priced of note:  None of note.

Common Stock filings: CNR CDAY of note.

Mixed Shelf Offerings:   ING SBFG of note.

Convertible Offering Files:  LRN of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Chart Of The Week -The S&P 500 remains in good shape.

Earnings After The Close:

Beats:

CRM +0.77, URBN +0.72, INTU +0.69, TOL +0.23, HPE +0.09, HEI +0.08, ADSK +0.08, PSTG +0.06 of note.

Misses:

JWN (0.12) of note.

Flat:

News After The Close:

Cisco (CSCO) looks to buy BabbleLabs, no terms yet.

The SEC charges Super Micro Computer (SMCI) with accounting fraud as it prematurely recognized revenues. They settled with SEC.

Index Changes LAD to S&P 400 and BKU TRUP to S&P 600 prior to open of 9/1.  LOGM out of S&P 400 as being taken private.

Bed Bath & Beyond (BBBY) to reduce workforce by 2,800.

Palantir Technologies files to go public.

McDonald’s (MCD) expands investigation into former CEO . (Bloomberg)

General Motors (GM) and Ford (F) are close to ending ventilator production. (Reuters)

Teva Pharmaceuticals (TEVA) indicted on price fixing charges. (WSJ)

Raises Guidance: CRM HPE OOMA

Lowers Guidance:

Mixed Guidance: 

Raises Dividend: LCII

Cut Dividend:

Special Dividend:

Stock Split Announcement: 

Stock Buyback:

10Q Delays: 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.

S&P 500 +1 Dow Jones Industrial Average -36  NASDAQ +18 Russell 2000 -1.1. Fair values are mixed. Asia mixed and Europe higher. VIX November futures are at 25.75 from 25.10 this morning. Current VIX is at 22.37 from 22.47.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.09 from $139.20  with yields at 0.696% from 0.64%.

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

Negative Sectors On Tuesday: Healthcare of note.

One Month Winners: Industrials, Consumer Cyclical and Consumer Defensive of note.

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

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

Twelve Month Winners: Technology, Consumer Cyclical and Communication Services of note.

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

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

Today After The Close:  SPLK BILI NTAP ESTC WSM SMTC BOX GEF LCI of note.

Thursday Morning:  TD DG CM DLTR TIF BURL WB LANC COTY SAFM PDCO FLWS FRO HHR PLAB ANF of note.

Gap Up: FLDM +30%, URBN +17%, CRM +13%, BKU +12%, IMVT +9%, TRUP +9%, HPE +7%, OII +6%, INTU +6%, OOMA +4%

Gap Down: PSTG -11%, JWN -6%, LRN -4%

Earnings This Morning Of Note

Beat:

DKS +1.96, DY +0.51, RY +0.30, PLAN +0.08 of note.

Missed:

CHS (0.14) of note.

Still to Report: 

Erlanger Research Advance/Decline Line Chart – Was the downtrend broken Monday? Close 8/25.

Courtesy of Phil Erlanger Research Inc.

Rags & Mags: Highlighted Stories may be clicked through to the original story. 

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

Stocks Making The Biggest Moves. (CNBC)

Coronavirus Update: 30 states approved for more unemployment money, American to cut 19,000 workers come October. (CNBC)

CDC says that people without Covid-19 symptoms do not need to be tested.

China accuses the U.S. of sending a spy plane into a no fly zone. (WSJ)

President Trump approval ticks up as Corona-19 cases falling, now 49% to 46% Biden. (CNBC)

China will purchase a record amount of soybeans. (Bloomberg)

Violence in Kenosha, Wisconsin entered a third night and two more people were killed and one injured. (NY Times)

Tracking of the Boston Biogen Conference in February shows that 20,000 cases were created of Covid-19. (NBC News)

Federal Reserve Kansas City President Esther George sees a risk of a double dip recession. (CNBC)

Highlight of Night 2 of the Republican Convention as the First Lady led the speaker list. (CNBC)

Hurricane Laura moves to a Category 4 as it nears U.S. Gulf Coast. (CNBC)

Stock Index Trading

Current through 8/25 close. The Russell 2000 and S&P 400 remain below their 10  day moving averages.

Bold means a change from prior day.

Economic

The latest NYSE and NASDAQ Short Interest Data is  out  through settlement of August 15th. During this period, the S&P 500 rose 3.74%. NYSE fell by -2.39% and NASDAQ by -0.63%.

The weekly API Petroleum Institute Data is came out at 4:30 p.m. EDT yesterday and saw a draw of 4.26 billion barrels of Crude Oil and Gasoline built by 4.91 million barrels.

July Durable Goods Orders is due out at 8:30 a.m. EDT and is expected to drop to 3.9% from 7.6%.

Geopolitical & Related

President Trump will be attending the Republican Convention this week and speaking every night along with his progeny.  Today the president will receive his intelligence briefing at 12:15 p.m. EDT and then at 3:00 p.m. EDT meets with medical professionals on Covid-19.

$51 billion 5 Year Treasury Auction at 1:00 p.m. EDT.

Investor Events & Conference Calls

SGLB (Webinar) QMCO ED CNI  (Investor Day) NAT (Conference Call)

Sellside Conferences: BMO Capital Markets Virtual Technology Summit 2020. (8/24-8/28) Raymond James Diversified Industrials Conference (8/25-8/26) Bank of America Fall Energy Summit (8/26) Seaport Global Summer Conference (8/26) Needham Cannabis Conference Day (8/26) Credit Suisse Private Company Conference (8/26-8/27). Three Part Advisors Midwest IDEAS Virtual Conference (8/26-8/27)

Industry Conferences: World Orphan Drug Congress 2020 (8/24-8/27) Data Center World Conference and Expo (8/24-8/27)

M&A

Hologic (HOLX) to buy Acessa Health for $80 million in cash plus contigent payments for benchmarks being hit down the road.

Upgrades & Downgrades For Tuesday 8/25 – A quiet day for recommendations.

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