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Morning Note

"Morning Note – 11/8/18"

posted by CAPIS on 11/08/2018 at 8:56 am

by CAPIS

11/08/2018 at 8:56 am

In After Hours Trading

IPOs on deck: none of note

Secondaries on deck: HSY NDRA NYMT XEL.

Filings After The Close:  DERM (mixed shelf), NYMT SRPT (common stock) MSFT BIDU (debt)

Courtesy of IPO Financial

Earnings From After the Close:

Surprises: PTLA +0.53 , EDIT +0.49 , BGNE +0.44 , TPIC +0.34 , HUM +0.34 , TRIP +0.24 , MDP +0.22 , QEP +0.21 , CYBR +0.21 , KELYA +0.18 , KORS +0.17 , GDOT +0.16 , CRL +0.15 , DISH +0.15 , HZNP +0.14 , GEO +0.13 , AYX +0.13 , HUBS +0.12 , VNDA +0.12 , CSWI +0.12 , ALRM +0.11 , WAAS +0.11 , SRE +0.10

Misses: AMBC (0.86), ALNY (0.64), TTWO (0.37), VAC (0.37), DVA (0.32), ADT (0.28), RUN (0.22), DF (0.22), SNCR (0.19), RCM (0.17), QUOT (0.13), BREW (0.13), MNTA (0.10), SGRY (0.10)

Flat:

Lower Guidance: SAIL MCHP AAOI OSUR ENS TTGT TPC

Mixed Guidance:

Strong Guidance: GDOT AYX HUBS WK AVLR NVTA UPWK CVNA

Hourly Action This Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P -9.50 Dow Jones -61, NDX -34 and Russell 2000 -6.70 with fair values LOWER helping open. Asia and Europe higher.

Gold, silver and copper lower. WTI Crude flat to slightly lower and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 117.94 with yields higher since Wednesday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: Healthcare, Technology, Services and Industrials.

Weak Sectors Yesterday  None lower.

One Month Winners: Conglomerates and Utilities

Three Month Winners: Healthcare and Utilities

Six Month Winners: Healthcare, Utilities and Services

Twelve Month Winners: Healthcare, Services and Conglomerates

Year To Date Winners: Healthcare, Services and Conglomerates

Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)

Earnings Expected After The Close: DIS AVTI CTL SWKS DOX XRAY LOPE TTD YELP RBA ESL JJSF DBX EPAY HDP SGMO PRAA UIS.

Earnings Due Tomorrow Morning: STWD ESNT TRCO ERF SSP RDNT PBPB SUP MGI.

Rags & Mags:

Wynn (WYNN) sees a slowdown in Macau. (CNBC)

Chinese imports and exports grow more than expected. (CNBC)

Bar shooting in Thousand Oaks, CA kills 12. (USA Today)

Walmart (WMT) starts Black Friday deals now. (USA Today)

Facebook (FB) had a good election day, but needs to keep momentum going. (NYT)

Tesla (TSLA) replaces Elon Musk as Chairman with Robyn Denholm (WSJ)

IBD stock of the day is Tableau (DATA) (IBD)

Earnings Reported This Morning:

Surprises: HII +1.15 , HRI +0.67 , VIVO +0.58 , BAM +0.43 , ZEUS +0.36 , LOXO +0.32 , GTS +0.25 , STRA +0.24 , CAH +0.22 , FLY +0.17 , HMHC +0.15 , AZUL +0.14 , NXST +0.12 , ENDP +0.12 , ACIW +0.11 , OGE +0.08 , MGA +0.06 , NCLH +0.06 , CRCM +0.06 , PRGO +0.05 , CBB +0.05 , AZN +0.05

Flat:

Misses: CNNE (0.26), HZN (0.21), DESP (0.12), DISCA (0.09), PRTY (0.09), EBIX (0.07), COMM (0.07), COT (0.06), CBM (0.06), NRG (0.06), MDCO (0.05), TTI (0.05)

Lower Guidance: ACIW PRGO GCI NOMD COMM PRTY

Mixed Guidance:

Strong Guidance: LGND ENDP OGE

Date Points:

Yesterday saw 2250 stocks rise and 708 fall on the NYSE. NASDAQ saw 2157 rise and 929 fall.

The SP 500 is now below its 50 day simple moving average and is YESTERDAY MOVED ABOVE its 200 day simple moving average. The Russell 2000 is STILL below its 50 day simple moving exponential average and 200 day simple moving average.

Courtesy of Phil Erlanger Research

The QPI10 Day Moving Average of breadth is BACK TO INVESTED TODAY and went there September.

YTD 40% of stocks are higher and 60% are lower. Updated 11/2/18 close with next update on 11/12/18.

Courtesy of Quantitative Partners, Inc

IMG1%

Economics:

Weekly Jobless Claims due out at 8:30 a.m. EDT.

Weekly Natural Gas Inventories due out at 10:30 a.m. EDT.

WasDe Crop Report at 1:00 p.m. EDT.

Politico:

Federal Reserve Open Market Committee (FOMC) to announce latest interest rate update at 2:00 p.m.. No change expected. Last meeting without a press conference.

Conferences & Analyst Meetings:

Analyst Meetings: SYK PG ULTA MDC DXC ATI ERIC DWDP Y LXU  QNST ASML

Monthly Sales Numbers: LB BKE CATO

Sellside Conferences:

Baird Global Industrial Conference

Stephens Fall New York City Investment Conference

Industry Conferences:

NAREIT Conference

M&A  Activity And Credible Rumors of Note Overnight:

Commscope (COMM) to buy Arris (ARRS) for $31.75 in cash and the assumption of debt.

Upgrades & Downgrades

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