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

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"CAPIS Morning Note -8/28/20 Conventions Over, On to Debates"

posted by CAPIS on 08/28/2020 at 6:15 am

by CAPIS

08/28/2020 at 6:15 am

Fun Fact: S&P 500 sets up for the best August since 1986. (CNBC)

Covid-19 Update With Latest Data

Cases reported 44,264 from 43,140

Tests 749,427 from 674,792

Positivity Rate 5.91% from 6.39%

Deaths 1,129 from 1,249

Hospitalizations 37,464 from 38,411

Mortality Rate at 2.96% no change

source COVID tracking project

Capital Raises

IPOs Priced: price IPO at $15 a share up from $11 to $13.

Secondaries Priced:  ODT of note.

Notes Priced of note:  None of note.

Common Stock filings: NIO COTY (selling shareholder) of note.

Mixed Shelf Offerings: MPLX DY of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Hourly Action – 8/27 Close – Mixed week continues.

Earnings After The Close:

Beats:

ULTA +0.58, DELL +0.52, VMW +0.36, MBUU +0.28, NTNX +0.28, GPS +0.23, WDAY +0.18, OLLI +0.14, OKTA +0.09, BILL +0.09, VEEV +0.08, HPQ +0.06, MRVL +0.01 of note.

Misses:

PAGS (0.03) of note.

Flat: 

News After The Close:

Nutanix (NTNX) CEO Dheeraj Pandey to retire. Bains invest $750 million into the company.

Autozone (AZO) CFO Bill Giles to retire at the end of December.

TikTok owner ByteDance tells engineers to make contingencies should it need to shut down operations.

ByteDance wants $30 billion for TikTok but bidders are not hitting the bid. (WSJ)

Latest conference call between House Speaker Pelosi and White House Chief of Staff Meadows ended with no breakthrough. (Reuters)

Amazon (AMZN) launches first Fresh grocery store.

Raises Guidance: OKTA VEEV VMW

Lowers Guidance:

Mixed Guidance: 

Raises Dividend: LRCX EGP 

Suspends Dividend: 

Stock Split Announcement: 

Stock Buyback: BIG

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 +13 Dow Jones Industrial Average +153  NASDAQ +34 Russell 2000 +12. Fair values are lower. Asia mixed and Europe mixed. VIX October futures are at 27.41 from 26.01 this morning. Current VIX is at 24.37 from 23.27.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.03 from $139.41 with yields at 0.734% from 0.677%.

Positive Sectors On Thursday:  Real Estate, Financials and Consumer Defensive of note.

Negative Sectors On Thursday: Communication Service, Materials and Consumer Cyclicals 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: None of note.

Monday Morning:  CTLT of note.

Gap Up: NTNX +14%, VKTX +14%, ULTA +14%, WDAY +12%, HIBB +12%, QEP +8%, GAN +7%, DELL +4%, SPNE +4%

Gap Down: PLT -6%, BILL -5%, NIO -5%

Earnings This Morning Of Note

Beat:

HIBB +1.80, BIG +0.05  of note.

Missed:

None of note.

Erlanger Research Advance/Decline Line Chart – Stocks rebounded marginally Thursday. Close 8/27.

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: German President Merkel warns of a tough winter. (CNBC)

President Trump accepted the GOP nomination. (NYT)

Japanese Prime Minister Abe to resign due to health reasons. (NYT)

Senator Rand Paul (R -KY) was attacked by a mob in Washington D.C. and had to be rescued by Capitol Police. (Reuters)

Coca Cola (KO) to restructure and goes to nine units with some job cuts ahead. (CNBC)

Capital One (COF) lowers borrowing limits on credit cards. (Bloomberg)

Carnival Cruise (CCL) AIDA Cruises will resume with fall and winter voyages. (PR Newswire)

Tesla (TSLA) had a major cyber attack on Giga Nevada. (Benzinga)

Walmart (WMT) teamed up with Microsoft (MSFT) on potential bid for TikTok. (CNBC)

Moderna (MRNA) in discussions to supply 40 million doses of their Covid-19 vaccine to Japan.

Stock Index Trading

Current through 8/27 close. Only the Russell 2000 has a negative moving average.

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 8/27 close. EVL Ranges are again starting to get back to normal with the recent action, pay attention The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.

Economic

July Personal Income is due out at 8:30 a.m. EDT and is expected to fall by -0.2% from -1.1%.

University of Michigan Consumer Sentiment – Final and is expected to remain at 2.8%.

Geopolitical & Related

President Trump will receive a briefing on Hurricane Laura at 2:30 p.m. EDT. Then he heads to New Hampshire to speak at 6:00 p.m. EDT.

Federal Reserve Cleveland President Loretta Mester spoke at 7:00 a.m. EDT on CNBC.

Federal Reserve Philadelphia President Patrick Harker speaks at 8:30 a.m. EDT on CNBC.

Federal Reserve St. Louis President James Bullard speaks at 3:00 p.m. EDT on CNBC.

$47 billion 7 Year Treasury Auction at 1:00 p.m. EDT.

Investor Events & Conference Calls

Sellside Conferences: BMO Capital Markets Virtual Technology Summit 2020. (8/24-8/28)

Industry Conferences: Associated Professional Sleep Societies Annual Meeting (8/27-8/30)

M&A

Black Knight (BKI) buys DocVerify, no terms.

Upgrades & Downgrades For Friday 8/28 –

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.