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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 – 9/10/20 Stocks Are Volatile This Morning, Lower Now Higher"

posted by CAPIS on 09/09/2020 at 8:08 pm

by CAPIS

09/09/2020 at 8:08 pm

Covid-19 Update With Latest Data From Wednesday 

Total Cases 6,329,405 from 6,298,422

Recovered: 2,387,479 from 2,359,111

Deaths 182,779 from 181,690

Cases reported 30,983 from 22,219

Tests 584,412 from 508,706

Deaths 1,089 from 918

Hospitalizations 32,263

source COVID tracking project

Capital Raises

IPOs Filed:

Secondaries Priced: FRC ALBO PRPL  of note.

Notes Priced of note: None of note.

Common Stock filings: ITCI TRIL QTNT IIIV SPRO RPAY of note, Selling Shareholder PRPL ICE.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: CSIQ RNG of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

RH +1.56, VRNT +0.37, AVAV +0.05, BIGC +0.05, NCNO +0.04, ZS +0.02 of note.

Misses:

GME (0.26) of note.

Flat: DSGX

Hourly Action – More hours are positive than negative despite the corrective action the last week.

News After The Close:

Marie Myers takes over as Acting CFO at Hewlett Packard (HPQ).

David Nord to step down s CEO of Hubbell (HUBB) and will be replaced by Gerben Bakker.

The Washington Post releases snippets from Rage by Bob Woodward and President Trump responds to questions about downplaying cornonvirus.

U.S. to end screening of incoming international passengers at U.S. airports.

Tiffany (TIF) sues LVMH over backing out of sale.

J.C. Penney (JCP) gets rescue deal and avoids liquidation thanks to Simon Property (SPG) and Brookfield Property Partners (BPY).

Raises Guidance: DGX

Lowers Guidance:

Dividend Cut: 

Stock Repurchase Announcement: CBTX

10-K 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 +10  Dow Jones Industrial Average +68  NASDAQ +94  Russell 2000 -0.58 . Fair values are higher. Asia mixed and Europe lower. VIX October futures are at 33.40 from 38.44 this morning. Current VIX is at 28.81 from 30.75.

Gold higher, silver higher and  copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at$139.30 from $139.38 with yields at 0.703% from 0.679%.

Positive Sectors On Wednesday:  Technology, Materials and Consumer Cyclical of note.

Negative Sectors On Wednesday: None 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: ORCL CHWY PTON ACB PLAY ZUMZ  of note.

Friday Morning: KR of note.

Gap Up:

SLQT +16%, RH +14%, INVA +11%, CBD +10%, AGX +10%, VRNT +9%, NCNO +8%

Gap Down:

GME -15%, QTNT -11%, BIGC -7%, PRPL -6%, YUMC -5%, SRPT -4%, ITCI -4%, ZNH -4%, CSIQ -4%

Earnings This Morning Of Note

Beat:

None of note.

Missed:

None of note.

Erlanger Research Advance/Decline Line Chart – Many stocks were up yesterday on the dead cat bounce. Update 9/9.

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 9/9 close. 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.

Courtesy of Phil Erlanger Research Inc.

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

Stocks Making The Biggest Moves. (CNBC)

5 Things To Know Ahead of Today’s Trading. (CNBC)

Corona Virus Update: Scientists question Russia vaccine data, WHO says needs more vaccines. (CNBC)

California has seen 2.5 million acres burned. (NYT)

Senate Stimulus Bill get “nearly” universal Republican support but not the 60 votes to clear the Senate. (WSJ)

15,000 apartments are now empty in NYC. (CNBC)

Kansas City Southern (KSU) rejects $20 billion takeover. (WSJ)

Boeing (BA) to face ethics probe on lunar lander bid. (Reuters)

ECB thoughts ahead of Press Conference. (CNBC)

Stock Index Trading

Current through 9/9 close. The Russell and S&P 400 Mid Cap moved back above their 50 day moving averages.

Bold means a change from prior day.

Economic

Weekly API Petroleum Institute came out at 4:30 p.m. EDT  and saw a build of three million barrels.

Weekly Jobless Claims are due out at 8:30 a.m. EDT. Result 884,000.

August PPI was out at 8:30 a.m. EDT and was expected to fall to 0.3% from 0.6%. Result 0.3%

The European Central Bank (ECB) held its latest meeting and no change happened. Press Conference at 8:30 a.m. EDT.

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

Geopolitical & Related

President Trump will meet with the Secretary of State at 3:30 p.m. EDT and then heads to Michigan to deliver remarks in Freeland, MI.

U.S. Treasury to sell 30 Year Notes at 1:00 p.m. EDT.

Investor Events & Conference Calls

TMO LKQ (Investor Day)  SNGX (Webcast) BPYU (Fireside Chat with Evercore)

Sellside Conferences: Barclays CEOEnergy Power Conference (9/8-9/10) Barclays Global Consumer Staples Conference (9/8-9/10) Citi Annual BioPharma Virtual Conference (9/8-9/10) Raymond James U.S. Bank Conference (9/9-9/10) Gateway Annual Conference (9/9-9/10) Baird Global Healthcare Conference (9/9-9/10) Scotiabank Financials Summit Conference (9/9-9/10) Wells Fargo Healthcare Conference (9/9-9/10) Goldman Sachs Annual Global Retail Conference (9/9-9/10) KBW Insurance Conference (9/9-9/10) Morgan Stanley Industrials CEO Unplugged Conference (9/9-9/11) Credit Suisse Global Steel & Mining Conference (9/9-9/11) Bank of America Media, Communications and Entertainment Conference (9/9-9/10) Deutsche Bank Airline One on One Day (9/10) Benchmark Annual Consumer/Media/Entertainment Conference (9/10)

Industry Conferences: Advanced Therapies Congress & Expo (9/8-9/11)

M&A

MaxLinear (MXL) buys NanoSemi for $10 million in cash and stock.

Upgrades & Downgrades For Wednesday 9/9 & Thursday 9/10 – Sorry, by accident we left off the recommendations for Wednesday. Love the upgrade of SYF as it hit on the Downside Risk Alert model from Revelation Research as a top decile name.

Thursday Recs

Wednesday Recs

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.