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10.27.2020 11 new Morning Note posts under Morning Note (10) and General (1)

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"CAPIS Morning Note – 9/18/20 Tik Tok Tik Tok Goes The Clock On A U.S. China Tech Deal"

posted by CAPIS on 09/18/2020 at 7:42 am

by CAPIS

09/18/2020 at 7:42 am

Breaking News: We Chat and TikTok to be restricted by Commerce Department from downloads on 9/21 and then prohibited from use 11/12. (NYT)

Covid-19 Update With Latest Data From Wednesday 

Total Cases 6,641,341 from 6,597,783

Recovered: 2,540,334 from 2,525,573

Deaths 189,665 from 188,802

Cases reported 43,558 from 40,021

Tests 835,868 from 671,243

Deaths 863 from 1,202

Hospitalizations 29,900 from 30,278

source COVID tracking project

Capital Raises

IPOs Priced: Unity Software (U) priced at $52 above range of $44 to $48. 

Secondaries Priced: ONEW EPRT  of note.

Notes Priced of note:  None of note.

Common Stock filings: EPRT of note. Selling Shareholders of note CELH.

Mixed Shelf Offerings:  None of note.

Convertible Offering Files: MCS 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 and so far this week. Updated 9/17 close.

News After The Close:

MGM Resorts (MGM) unit BetMGM is now an official betting partner with the Oakland Raiders.

Federal Judge blocks U.S. Postal Service from making changes to delay mail.

Federal Reserve releases scenarios for a second test of bank stress tests.

Kinross Gold (KGC) sees production up by 20% in 2023.

PG&E (PCG) sees CFO Jason Wells resign to take CFO job at CenterPoint (CNP).

Raytheon Technologies (RTX) wins $320 million Navy contract.

President Trump to propose $13 billion of farm aid when he holds his rally in Wisconsin.

Dividend Increase: TXN WPC IDA KGC CWH

Reinstates Buybacks:

Guides Higher: 

Stock Split:

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

S&P 500 +6  Dow Jones Industrial Average -20 NASDAQ +55  Russell 2000  . Fair values are lower. Asia higher  and Europe mixed. VIX October futures are at 29.80 from 31.35 this morning. Current VIX is at 26.46 from 28.65.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139.55 from $139.56 with yields at 0.671% from 0.661%.

Positive Sectors On Thursday: Industrials and Materials of note.

Negative Sectors On Thursday: Real Estate, Consumer Cyclical and Communication of note.

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

Three Month Winners: Consumer Cyclicals, Materials and Technology of note.

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

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

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

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

Today After The Close: None of note.

Monday Morning: None of note.

Gap Up: KZR +10% HGC +5% KODK +4% IDA +4%

Gap Down: CKPT -14% EPRT -3%

Earnings This Morning Of Note

Beat:

 None of note.

Missed:

 None of note.

Erlanger Research Advance/Decline Line Table – We have substituted the daily chart with our A/D Line Model so you can see the breakdown, 9/17 close.

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 9/16 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: Targeted lockdowns return to Europe, BioNTech buys production facility. (CNBC)

Democrats in swing districts pushing Speaker Pelosi for a deal on stimulus after Trump ups deal size yesterday. (The Washington Post)

Congress close to a deal to keep government funded through mid December. (WSJ)

Dr. Fauci would “put money” on a vaccine by November or December. (CNN)

House postpones voting on legalization of marijuana after mdoerate Democrats push back. (USA Today)

Walmart (WMT) may join Oracle on TikTok deal. (WSJ)

Facebook (FB) sued for spying on Instagram users. (Bloomberg)

UPS offers buyouts to management workers to reduce workforce. (WSJ)

Stock Index Trading

Current through 9/17 close. There was some deterioration yesterday with the gap down at the open.

Bold means a change from prior day.

Economic

August Leading Indicators are due out at 10:00 a.m. EDT and are expected to remain at 1.4%.

The September University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 77 from 74.1.

Geopolitical & Related

President Trump will receive his intelligence briefing at 12:00 p.m. EDT and then heads to Minnesota to speak at 7:00 p.m. EDT.

Investor Events & Conference Calls

MOS (Investor Day) DTE (Update) NEPT (Fireside Chat)

Sellside Conferences: Morgan Stanley Healthcare Conference (9/14-9/18)  Bank of America Global Healthcare Conference (9/15-9/18) CIBC Virtual Sustainability Conference 2020 (9/18) Piper Jaffray Sandler P.S. It’s Friday  56 vs LTE (9/18)

Industry Conferences: ESMO Virtual Congress 2020 European Society for Medical Oncology (9/17-9/21)

M&A

Ericsson (ERIC) buys Cradlepoint for $1.1 billion.

Upgrades & Downgrades For Friday 9/17 – 

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