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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 -9/2/20 Futures Higher – “It’s Deja Vous All Over Again”"

posted by CAPIS on 09/02/2020 at 6:40 am

by CAPIS

09/02/2020 at 6:40 am

Fun Fact: Michael Jordan buys a stake into Draft Kings (DKNG). Jordan has been known to love a good bet and clearly loves the company to take a stake here.

Covid-19 Update With Latest Data 

Total Cases 6,041,860

Recovered: 2,202,663

Deaths 176,624

Cases reported 42,401 from 44,264

Tests 698,161 from 749,427

Deaths 1,022 from 1,129

Hospitalizations 35,269 from 37,464

source COVID tracking project

Capital Raises

IPOs Filed:

Secondaries Priced: None of note.

Notes Priced of note:  BB of note.

Common Stock filings: HLNE TBPH of note.

Mixed Shelf Offerings: PRIM of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

CAL +0.45, HRB +0.22, HOME +0.10, SCVL +0.09  of note.

Misses:

None of note.

Flat: 

News After The Close:

AMC Entertainment (AMC) to open another 140 locations this weekend.

Oak Street Health (OSH) to announce collaboration with Walmart (WMT) to offer clinics in Dallas Fort Worth area.

AT&T (T) to not sell Warner Brothers Video Game unit.

White House halts evictions through year end with certain qualifiers.

General Motors (GM) to meet with Ivanka Trump on 9/2.

Raises Guidance:

Stock Repurchase Announcement:

10-K Delays: AZPN

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

S&P 500 +24 Dow Jones Industrial Average +142  NASDAQ +150 Russell 2000 +7.32. Fair values are mixed. Asia mixed and Europe higher. VIX October futures are at 28.25 from 27.55 this morning. Current VIX is at 25.96 from 26.41.

Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.42 from $139.15  with yields at 0.679% from 0.71%.

Positive Sectors On Tuesday:  Technology, Materials and Communication Services of note.

Negative Sectors On Tuesday: Utilities and 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: CRWD CPRT MDB GWRE SMAR FIVE SAIC PVH CLDR VRNT PD AMBA ZUO SPWH of note.

Thursday Morning: CPB CIEN TTC DCI MOMO PDCO JWA KFY MIK GMS MEI SIG DBI CONN GCO of note.

Gap Up: OSH +13%, FEAC +12%, VHC +9%, AMC +8%, LI +6%, CAL +6%

Gap Down: GSX -16%, HOME -13%, SCVL -13%, JAMF -8%, AMRN -5%, HLNE -4%

Earnings This Morning Of Note

Beat:

M +0.99, GES +0.57, BF.B +0.37 of note.

Missed:

GSX (-0.10) of note.

Erlanger Research Advance/Decline Line Chart – Stocks were weak yesterday. Close 9/1.

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: . (CNBC)

Germany rules out another lockdown. (Reuters)

Bayer (BAYRY) petitions California on ruling against Roundup where $21.5 million was paid out. (Reuters)

GSX Techedu (GSX) discloses SEC investigation.

Stock Index Trading

Current through 9/1 close. All indexes see moving averages positive.

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 9/1 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

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

Weekly MBA Mortgage Applications  came out at 7:00 a.m. EDT and fell -2.0%.

July Factory Orders is due out at 10:00 a.m. EDT and is expected to drop to 5.7% from 6.2%.

August ADP Employment Change Index is due out at 8:15 a.m. EDT and is expected to rise to 1,210,000 from 167,000.

Federal Reserve Beige Book is due out at 2:00 p.m. EDT.

Geopolitical & Related

President Trump will head to Wilmington, NC and speak from the deck of the Battleship North Carolina at 2:00 p.m. EDT.

Federal Reserve Presidents Williams, Mester and Daly all speak but time uncertain.

Investor Events & Conference Calls

LNT (Investor Day) CSTL CYDY KAYS TRQ (Conference Call) COST (Sale Update) INTC (Event) CNI (Fireside Chat)

Sellside Conferences: Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit 2000 (9/1-9/2) Piper Sandler & Simmons Energy Gleneagles Conference (9/2-9/3).

Industry Conferences: The 16th Annual PEGS Boston Summit (8/31 to 9/4). LD Micro 500 Virtual Investor Conference (9/1-9/4)

M&A

Upgrades & Downgrades For Wednesday 9/2 –

DISCLAIMER

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