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Morning Note

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posted by CAPIS on 11/01/2018 at 10:31 am

by CAPIS

11/01/2018 at 10:31 am

In After Hours Trading

IPOs on deck Axonics Modulation (AXNX), Orchard Rx (ORTX) and Twist Bioscience (TWST). Secondaries of note none for today.

Filings after close none of note.

data courtesy of IPO Financial

In After Hours Trading: 

SURPRISES:  IQ +2.42 TX +0.89 WIRE +0.42 CXO +0.39 SFLY +0.36 AFG +0.32 FB +0.32 BIDU +0.24 SKYW +0.17 CW +0.14 TMUS +0.10

MISSED: CRAY -.18 CLVS -.11 NBR -.10 MDR -.09 NUVA -.06 TCS -0.04.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +18 Dow Jones +152, NDX +68 and Russell 2000 +8.40 with fair values LOWER helping open. Asia higher  and Europe lower.

Gold, silver and copper lower to flat. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 118.55 with yields lower since Friday. Prices as of 7:50 a.m. EDT.

Top Sectors Industrials, Materials and Technology.

Weak Sectors Conglomerates.

One month winners Utilities and Conglomerates.

Three Month Winners Utilities and Healthcare.

Six Month Winners Healthcare, Conglomerates, Services and Utilities.

One Year Winners Services, Healthcare and Materials.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected

Earnings due after the close (by avg. trade volume):  SU ESRX AIG ALL FISV WMB NXPI AWK APA NLY CF PKI QRVO RGLD.

Earnings due Thursday morning: RDSA DWDP CI SHPG D ZTS BCE TRP CNQ MPC PPL TEVA W HBI.

Reported Earnings This Morning

Reported This Morning: 

 
SURPRISES ETR +.94 GM +.32 ICPT +.47 HES +.42 HFC +.32 TAP +.25 GRMN +.23 YUM +.21 EL +.18 BG +.13 ANTM +.11.
 
MISSES: DBD -.45 CVE -.38 NEWM -.29 CG -.24 SPAR -.08.
Missing: .Lower Guidance:.Current Morning missing: .Mixed Guidance: .Positive Guidance: .

Data Points

Yesterday saw 2059 stocks rise and 885 fall on the NYSE. NASDAQ saw 2080 rise and 996 fall.

The SP 500 is now well below its 50 day exponential moving average and is now below its 200 day exponential moving average. The Russell 2000 is below its 50 day moving exponential average and 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 35% of stocks are higher and 65% are lower. Updated 10/26/18 close.

Economics

ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall to 180,000 from 230,000.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Politico

The Bank of Japan (BOJ) announced its latest interest rate decision overnight and .

President Trump goes to Fort Myers, Florida today and  Columbia, Missouri tomorrow to campaign.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, AKTS HLF Yahoo Japan.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan ECL TCS CLVS
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup CC Merrill Lynchp
Merrill Lynch CF
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS GE
Deutsche Bank
Piper Jaffray EGRX
Jefferies
Stifel NANO
Needham
Raymond James
Stephens
Sun Trust RH MEDP

About the Author

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