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"CAPIS Morning Note – 12/10/19 One Trade Deal Down, China Still To Go"

posted by CAPIS on 12/10/2019 am31 7:35 am

by CAPIS

12/10/2019 am31 7:35 am

Fun Fact- By the end of the week, 65% of the country will be below freezing. (CNN)

IPOs on deck:  LIV Capital Acquisition (LIVKU) of note.

IPOs Filed: None filed after the close.

Secondaries Priced: ABR AUPH RHP SCYX XAIR of note.

Notes Priced:   WRB LITE of note.

Common Stock filings: ABR  CNST RHP LVGO of note.

Mixed Shelf Offerings filed:  None of note.

Convertible Offering Files: EVBG  of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

 MTN +0.35, TOL +0.11, CASY +0.06, SFIX +0.06, CDMO +0.03, PHR +0.03, MDB +0.02 of note.

Missed:

 CHWY (0.07), ROAD (0.02) of note.

Hourly Action This Week:

Close of 12/6.

News After The Close (In Order of Time)

Lululemon Athletica (LULU) COO to leave to go to another position outside the apparel industry.

Ingersoll-Rand (IR) CFO to retire in 2020 Christopher Kuehn will take over as CFO.

Stock Repurchase Announcements: 

Dividend Increase:  JJSF PNR UHAL (special dividend) AES VAC

Gap Higher: SFIX +12%, SUPN +9%, MDB +9%, SNY +4%, PSN +4%.

Gap Lower: ROAD -15%, DBI -12%, CONN -7%, CASY -6%, LVGO -6%, CHWY -4%, ABR -4%, REGN -4%.

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 -65 NASDAQ -25 Russell 2000 -3. Fair values are higher. Asia mixed and Europe lower.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $129.16 from$129.03 with yields at 1.807% from 1.825%. Prices as of 8:30 a.m. EDT.

Positive Sectors On Monday: Real Estate and Materials of note.

Negative Sectors On Monday: Conglomerates, Healthcare and Industrials of note.

One Month Winners: Healthcare, Industrials and Technology.

Three Month Winners: Industrials, Financials and Healthcare.

Six Month Winners: Consumer Goods, Industrials, Technology and Healthcare.

Twelve Month Winners: Technology, Industrials and Services.

Year to Date: Technology, Industrials, Technology, Consumer Goods, Services and Financials.

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

Today After The Close:  

OLLI PLAY GME GMX of note.

Wednesday Before The Open:

AEO PLCE PLAB UNFI VRA of note.

Earnings This Morning Of Note

Beat:

 AZO +0.56, CONN +0.07, CMD +0.06, HDS +0.01 of note.

Missed:     

DBI (0.07)  of note.

Still To Report: 

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

Top News Story: Democrats to roll out Articles of Impeachment today against President Trump. (CNN)

Five Things You Need To Know To Start Your Day. (Bloomberg)

Five  Things To Know To Start Your Day. (CNBC)

Stocks making the biggest move this morning. (CNBC)

China picked up soybean purchases. (CNBC)

USMCA Deal between the Democrats and the President could come as early as today. (NYT)

Justice Department Inspector General released report detailing the Russia Investigation and how FBI handled it. President Trump upset with report. (CNN)

Federal Reserve will not move until at least mid year 2020. (CNBC)

White House Adviser Jared Kushner notes China talks are going in a “good direction”. (CNBC)

Commerce Secretary Wilbur Ross says U.S. in a “better negotiating position” after good economic data.

Boeing (BA) Whistleblower to testify before the House today. (Reuters)

Notable Data Points

Most stock indexes lost more ground on Monday. Current through 12/9.

Bold means a change from prior day.

The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 12/6. Year to date model up 12.56% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.

YTD 64% (-1% change week over week) of stocks are higher and 36% are lower. Updated  through 12/6 close.

Courtesy of Phil Erlanger Research, Inc.

Algo/HFT Trading Levels:

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. Update through 12/6.

Economic & Related:

November NFIB Small Business Optimism Index was at 6:00 a.m. EDT came in at 104.7 from 102.40 last month.

The latest NYSE and NASDAQ Short Interest Data is due out after the close and will be in our data on Wednesday morning.

$24 billion of 10 Year Treasury Note Auction at 1:00 p.m. EDT.

Geopolitical:      

President Trump  will meet with the Russian Minister of Foreign Affairs at 2:30 p.m. EDT and then departs to a Keep America Great Rally in Hershey, PA at 7:00 p.m. EDT.

The Federal Reserve Open Market Committee (FOMC) begins a two-day meeting.

House Speaker Nancy Pelosi to hold 10:00 a.m. EDT press conference on USMCA.

Conferences & Analyst Meetings:

Investor/Analyst Days & Conference Calls of Note:   LSCC OMCL ACM THS ENB DESP NUAN  (Investor Day) RHBBY (Conference Call)

Sellside Conferences: UBS TMT Conference (12/9-12/11). Raymond James Technology Conference (12/9-12/11). Cowen Energy Conferemce (12/9-12/10). Imperial Capital Security Conference (12/10-12/11). Cowen Annual Networking and Cybersecurity Summit (12-10-12/11). Morgan Stanley Space Summit National Security The New Space Race (12/10-12/12). Citi Global Consumer Conference (12/10-12/11). Goldman Sachs U.S. Financial Services Conference (12/10-12//11). Sun Trust Robinson Humphrey Industrials and Services Summit. Deutsche Bank dbacess AutoTech Conference.

Industry Conferences: American Epilepsy Conference (12/6-12/10). American Society of Hematology Annual Meeting and Exposition (12/7-12/10). LD Micro Annual Main Event Conference (12/10-12/12). Gartner Identity & Access Management Summit (12/10-12/12).

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