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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 – 10/6/20 Pelosi and Mnuchin Continue To Talk But No Results, Futures Turn Positive"

posted by CAPIS on 10/06/2020 at 7:35 am

by CAPIS

10/06/2020 at 7:35 am

Covid-19 Update With Latest Data From Friday 

Total Cases 7,421,943 from 7,383,499

Recovered: 2,935,1421 from 2,911,699

Deaths 202,040 from 201,712

New Cases 38,103 from 38,267

Tests 929,827 from 934,726

Deaths 741 from 740

Current Hospitalizations 29,942

source COVID tracking project

Capital Raises

IPOs Priced: None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings:  None of note.

Selling Shareholders of note: NCNO

Mixed Shelf Offerings: SMMT of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

None of note.

Misses:

None of note.

Hourly Action – We continue with volatile action. Updated 10/2 close.

News After The Close:

AT&T (T) moves Dune to October 1,2021 release.

Country Fresh extends their recall, impacts Grocers.

Index Changes: VNT added to S&P 500 on 10/9.

Apple (AAPL) to stop selling headphones  and wireless speakers from rivals.

(AYX) names new CEO  and guides higher.

Supreme Court upheld South Carolina requiring witnesses to absentee ballots going forward but not retro. Also, the court noted they will adhere to existing election voting laws. Justics Cavanaugh wrote the opinion.

Dr. Fauci was interviewed last night on CNN with Chris Cuomo and noted that president could have a reversal BUT not likely and Trump looked “very well” . Noted Regeneron (REGN) antibody clearly made a difference.

Dividend Increase: 

Dividend Suspended: 

Reinstates Or Initiates Buybacks: EEX

Guides Higher: AMSC HIMX FRGI

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 +105 NASDAQ -53  Russell 2000 +17 . Fair values are mixed.  Asia mixed and Europe higher. Current VIX is at 27.96 from 27.63. 3 month VIX Future is at 31.28.

Gold and silver higher with copper higher as well. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.75 from $139.33 with yields at 0.79% from .755%.

Positive Sectors On Monday:  All led by Energy, Technology and Healthcare of note.

Negative Sectors On Monday: None 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:  LEVI of note.

Wednesday Morning: LW RPM of note.

Gap Up:

AYX +24%, EEX +13%, GLYC +10%, AMSC +10%, HIMX +9%, BNTX +7%, AMPH +7%, SMMT +5%, VEC +4%   of note.

Gap Down:

 IOVA -20%, YMAB -19%, LOGI -6% and NCNO -3% of note.

Earnings This Morning Of Note

Beat:

PAYX +.08 of note.

Missed:

None of note.

Still To Report: 

Erlanger Research Advance/Decline Line Chart –  Updated 10/5.

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 10/2 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. The correction cannot end until the EVL Range becomes normal again, i.e. no blue highlighting.

Courtesy of Phil Erlanger Research Inc.

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

Stocks Making The Biggest Moves – LUV, CSCO, DLTR, SONO(CNBC)

Corona Virus Update:  White House blocks FDA vaccine guidelines. (CNBC)

5 Things To Know Before The Stock Market Opens – (CNBC)

Groundhog Day Pelosi and Mnuchin still discusses a stimulus deal. (CNBC)

House panel will likely recommend breakup of large technology companies – FB AMZN AAPL GOOGL. (Bloomberg)

Stock Index Trading

Current through 10/5 close. All indexes now positive.

Bold means a change from prior day.

Economic

Geopolitical & Related

President Trump is resting and tweeting this morning as he is back at The White House.

Federal Reserve Chairman Jerome Powell will speak at 10:40 a.m. EDT.

Auction of $52 billion of 3 Year Treasuries.

Investor Meetings & Conferences

RSNT CETX  (Webinar) AMSC (Conference Call) BLL ALXN CYDY (Investor Conference)

Sellside Conferences: Jefferies IO Cell Therapy Summit (10/5-1/6) Deutsche Bank Leveraged Finance Conference (10/5-10/7) Credit Suisse Agribusiness & Foods Week (10/5-10/9) Guggenheim Vaccines & Infectious Disease Day (10/5-10/6)

Industry Conferences: Jeep Grand Cherokee Summit Series 2020 (10/2- 10/18)

M&A

Avalara (AVLR) buys Transaction Tax Resources, Inc. for $377 million in cash.

10x Genomics (TXG) buys ReadCoor for $350 million in cash and stock.

Upgrades & Downgrades For Tuesday – 10/6

DISCLAIMER

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