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"CAPIS Morning Note – 12/15/20: Futures Higher For A Second Day, Will It Hold?"

posted by CAPIS on 12/15/2020 at 7:47 am

by CAPIS

12/15/2020 at 7:47 am

Covid-19 Statistics: 

Total Cases 16,339,404 from 16,143,319

Deaths 292,404 from 291,017

New Tests 2,159,478 from 1,750,082

New Cases 193,384 from 186,884 with positivity rate of 8.9% (down 1.7)

Daily Deaths 1,358

Current Hospitalizations 110,549 from 109,331

Capital Raises:

IPOs Priced: None of note.

Secondaries Priced: TGTX MIRM EAF of note.

Notes Priced of note: ZNGA of note.

Common Stock filings: ARVN OCUL CLLS CSTL of note.

Selling Shareholders of note: None of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: MTN of note.

Senior Notes Filed: None of note.

Earnings Out After The Close:

Beats: none

Flat:  none

Misses: none

News After The Close (sorted by time starting at the close):

President-Elect Joe Biden goes above 270 votes from the Electoral College. Lights out for Trump unless on January 6th a vote takes place in Congress which seems unlikely.

Attorney General William Barr will resign with his last day on December 23rd.

President-Elect Biden delivered a national address to the country lambasting President Trump for refusing to acknowledge election results.

Dividend Increase: AEIS IIPR LLY PGRE RC WM   

Raises Guidance:  

Lowers Guidance: 

Stock Buyback New Or Increase: BSX WM

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

S&P 500 +25    Dow Jones Industrial Average +164   NASDAQ +79 Russell 2000 +12 . Fair values are mixed to lower. Asia lower and Europe mixed. VIX is at 25.53 from 25.25 this morning in futures. VIX closed at 24.72 from 23.21 and the three month futures at 27.11 from 26.05.

Gold, silver and copper are higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $138 from $137.85 with the yield at 0.90% from 0.921%.

Positive Sectors On Monday: Technology and Consumer Cyclicals of note.

Negative Sectors On Monday: Energy, Materials and Industrials of note. 

One Month Winners: Energy, Financials Real Estate and Industrials  of note.

Three Month Winners: Industrials, Communication Services, Utilities and Financials of note.

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

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

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

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: NDSN of note.

Wednesday Before the Open: TTC of note.

Earnings This Morning Of Note:

Beats: none

Flat:  none

Misses: none

Erlanger Research Advance/Decline Chart –  Updated 12/12 Close. Friday struggles actually did continue on Monday. Will today hold?

Gap Ups & Down In Early Pre-Market:

Gap Up:

OCX +99%, PRVL +86%, IMRN +15%, PQG +9%, RIDE +6%, ALLO +5%, CWH +4%

Gap Down:

MIRM -14%, MESO -5%, EAF -5%

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

Stocks Making The Biggest Moves . (CNBC)

5 things to know before the market opens. (CNBC)

Biggest analyst calls of the day. (CNBC Pro)

Coronavirus Update:  U.S. hospitalizations above 110,000. (CNBC)

IEA forecasts see oil demand falling by 8.8 mb/d from 2019 to 2020.

Dr. Scott Gottlieb on CNBC says U.S. cases are peaking but West and East Coast  will peak later. Thanksgiving travel cases were less than expected. Deaths and hospitals are expected to peak in late January. (CNBC)

Two stimulus bills introduced by a bipartisan group with $748 billion to small business and unemployment and a $160 billion for state and local governments. (NYT)

25% of the country does not want to take the coronoavirus vaccine. (NYT)

Apple (AAPL) to increase iPhone production by 30% in first half of 2021. (Nikkei)

More companies were hacked by the Russians. (NYT)

Moderna (MRNA) to get FDA approval by the end of the week. (CNBC)

Economic:

December Empire State Manufacturing is due out at 8:30 a.m. EST and is expected to fall to 6.0 from 6.30. Came in at 4.9.

November Industrial Production is due out at 9:15 EST and is expected to 0.3% from 1.1%.

Weekly API Petroleum Institute Data will be out at 4:30 p.m. EST.

Geopolitical & Related:

President Trump has no scheduled events.

Federal Reserve Open Market Committee starts a two day meeting.

Investor Meetings & Conferences of Note:

PYPD TTCF BDC ELAN PTC AJG LLY CS (Investor Day) INFU PRIM FULC (Update)  PGEN ALNY (R&D Day) GOOS OCX (Webinar) 

Sellside Conferences: Cowen Virtual Networking and Cyber Security Conference (12/14-12/15) D.A. Davison Semiconductor, Laser & OPtical Conference (12/15) Oppenheimer 5G Summit (12/15) JMP Securities Hematology Summit (12/15-12/16) Cantor Fitzgerals Cannabis MSO Summit (12/15-12/16).

Industry Conferences: SEMICON Japan (12/11-12/18) LD Micro Main Event Conference (12/14-12/15)

M&A:

Eli Lilly (LLY) to acquire Prevail Therapeutics (PRVL) for $22.50 per share in cash.

Primoris Services (PRIM) to buy Future Infrastructure Holdings for $620 million in cash.

Upgrades & Downgrades:

DISCLAIMER

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