New!
09.24.2020 10 new Morning Note posts under Morning Note (9) and General (1)

Morning Note

News

Morning Note

"CAPIS Morning Note – 9/15/20"

posted by CAPIS on 09/14/2020 at 8:56 pm

by CAPIS

09/14/2020 at 8:56 pm

Quick Comments:

Covid-19 Update With Latest Data From Monday 

Total Cases 6,518,306 from 6,487,751

Recovered: 2,474,570 from 2,451,406

Deaths 186,548 from 186,162

Cases reported 28,853 from  38,543

Tests 742,504 from 733,719

Deaths 810 from 1,018

Hospitalizations 29,795 from 29,816

source COVID tracking project

Capital Raises

IPOs Filed:

Secondaries Priced: OM of note.

Notes Priced of note: None of note.

Common Stock filings: FRTA KRNT MRCY ETNB CCL of note.

Mixed Shelf Offerings: MRCY LPTX  of note.

Convertible Offering Files: MDLA of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

None of note.

Misses:

None of note.

Hourly Action – More hours are negative with the corrective action last week.

News After The Close:

Monolithic Power (MPWR) raises Q3 revenue guidance.

ExlService (EXLS) guides Q3 and FY 2020 EPS and revenues above consensus, will accelerate buybacks.

FedEx (FDX) to raise rates on 1/4/21.

SEC to examine Nikola (NKLA) over fraud allegations from short seller report.

MDC Holdings (MDC) notes that strong demand continues into Q3.

China put up some strong economic numbers as Industrial Production rose +5.6% and Retail Sale up 0.5%.

Germany had a better than expected ZEW Survey.

England posted strong employment data for July.

Dividend Increase: NYMT RC

Reinstates Buybacks: CTRN TGH

Guides Higher: CWH SMG PPD  RLGT

Stock Split: NEE -4:1

Reserve Bank of Australia (RBA) Minutes are due out tonight at 9:00 p.m. EDT.

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

S&P 500 +29  Dow Jones Industrial Average +222  NASDAQ +132 Russell 2000 +16. Fair values are higher. Asia higher ex Japan and Europe higher. VIX October futures are at 30.07 from 31.1 this morning. Current VIX is at 25.07 from 29.77.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.48 from $139.63  with yields at 0.685% from 0.662%.

Positive Sectors On Monday:  Real Estate, Technology and Healthcare of note.

Negative Sectors On Monday: 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: ADBE FDX ANAB HTZ of note.

Wednesday Morning:  BRC of note.

Gap Up: 

MRNS +61%, RLGT +13%, FCAU +10%, CWH +7%, NEE +7%, EXLS +7%, SMG +6%, NYMT +5%, AERI +4%, GRAF +4%, BNTX +4%

Gap Down: 

PPD -5%, NKLA -5%, FRTA -5%, LEN -4%, KRNT -4%

Earnings This Morning Of Note

Beat:

None of note.

Missed:

 None of note.

Erlanger Research Advance/Decline Line Chart – The back and forth for positive and negative breadth continues. Yesterday saw the strongest day in months. Update 9/14.

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 9/14 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: Global deaths rising, impact on energy. (CNBC)

IEA says global oil supply down 9.3 mb/d from a year ago.

Missouri Senator Josh Hawley (R) urges the president not to approve Oracle deal for TikTok unless 100% separated from China.

White House Advisor Jared Kushner says stimulus DOA and will have to wait until after the election.  (CNBC)

President Trump tweets that Iran may be planning an attack on the U.S. and that it would be met with a response 1,000 times greater in magnitude.

Layoffs of Note: Marriott Vacations (VAC) to lay off 3,3300. Citigroup (C) to lay off 3,000.

BioNTech (BNTX) gets 375 millions pounds from Germany to support Covid-19 vaccine program.

Apple (AAPL) to host product event today but will not include iPhones. (BGR)

Sony (SNE) lowers forecast for PlayStation 5 by four million units. (Bloomberg)

Becton Dickinson (BDX) looking into false positive Covid-19 tests at nursing homes. (WSJ)

50 centrist lawmakers propose a $1.5 trillion stimulus plan. (NYT)

Federal Judge rules Covid-19 economic restrictions in Pennsylvania are unconstitutional. White House pushing for similar rulings in Michigan and North Carolina. (The Washington Post)

Carnival Cruise (CCL) files for $1 billion stock filing.

Stock Index Trading

Current through 9/14 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

Empire State Manufacturing is due out at 8:30 a.m. EDT. Came in at 17 versus 6.8 estimate.

Import/Export Price Data is due out at 8:30 a.m. EDT. Imports up +0.9% and Exports +0.5%.

August Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to 1.0% from 3.0%.

The Federal Open Market Committee (FOMC) begins a two day meeting.

Weekly API Petroleum Institute Data is out at 4:30 p.m. EDT.

Geopolitical & Related

President Trump participates in a working lunch with the Prime Minister of the State of Israel, the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates and the Foreign Minister of the Kingdom of Bahrain and previously signed the Abraham Accords with Israel and  the U.A.E. at 12:00 p.m. EDT.  Then the president heads to Philadelphia to participate in a Town Hall sponsored by ABC News at 5:30 p.m. EDT.

Investor Events & Conference Calls

 (Update) KHC SENS PTON AAPL CWH (Investor Day) (Webcast)  BSGM (Conference Call)

Sellside Conferences: H.C. Wainwright Rodman Renshar Conference Call (9/14-9/16)  Deutsche Bank Global dbAccess Technology Conference (9/14-9/15) JP Morgan Gaming. Lodging, Restaurant & Leisure Forum 2020 (9/14-9/15) RBC Capital Markets Entertainment Conference (9/14-9/17) Jefferies Virtual Software Conference (9/14-9/15) Morgan Stanley Latin America Conference (9/14-9/15) Morgan Stanley Healthcare Conference (9/14-9/18) Barclays Global Financial Services Conference (9/14-9/16) Credit Suisse Global Basic Materials Conference (9/13-9/17) UBS Global Renewables & Energy Transition Virtual Conference (9/15-9/16) Janney Utilities Conference (9/15-9/16) Credit Suisse Annual Asian Gaming Conference (9/15-9/16) Raymond James North American Conference (9/15-9/17) Cantor Fitzgerald Annual Global Healthcare Conference (9/15-9/17) Bank of America Global Healthcare Conference (9/15-9/18) Goldman Sachs Annual Communacopia Conference (9/15-9/17) Bank of America Global Real Estate Conference (9/15-9/16) Credit Suisse Global Basic Materials Conference (9/15-9/17)

Industry Conferences: Precious Metals Conference (9/15-9/17). Annual Sickle Cell Disease Therapeutics Conference (9/15)

M&A

Medallia (MDLA) buys Sense360 for $44 million in cash.

Upgrades & Downgrades For Tuesday 9/15 – 

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.