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Morning Note

"CAPIS Morning Note -12/17/19 Boeing Halts Production of 737 Max In January"

posted by CAPIS on 12/17/2019 am31 7:36 am

by CAPIS

12/17/2019 am31 7:36 am

Breaking News- Former Federal Reserve Chairman Alan Greenspan on CNBC at 10:00 a.m. EDT.

IPOs on deck: None of note.

IPOs Filed: None filed after the close.

Secondaries Priced: None of note.

Notes Priced: None of note.

Common Stock filings: MEIP APTO of note.

Mixed Shelf Offerings filed:  CLVS  of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

HEI +0.05 of note.

Missed:

None of note.

Hourly Action This Week: Updated 12/13

News After The Close (In Order of Time)

10-K delay for RCI Hospitality (RICK).

Petro Bras (PBRA) prepaid $5 billion loan with the China Development Bank.

Boeing (BA) to temporarily halt production of the 737 Max 8 in January.

Roku (ROKU) CFO Steve Louden to step down once successor found.

Steel Dynamics (STLD) guides Q4 below mid point consensus.

Stock Repurchase Announcements: TPH

Dividend Increase: OFLX (special dividend) HEI IVR LLY WM NOG KL ENSG

Gap Higher: IMGN +24%, TGE +21%, PRVL +16%, PCG +6%, AGIO +5%.

Gap Lower: MEIP -23%, CLVS -9%, NAV -7%, UN -6%.

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

S&P 500 +16 Dow Jones Industrial Average +72 NASDAQ +49 Russell 2000 +11.82. Fair values are lower. Asia mixed and Europe higher.

Gold higher, silver lower and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $128.67 from $128.78 with yields at from 1.85%. Prices as of 8:0 a.m. EDT.

Positive Sectors On Monday: Conglomerates, Utilities, Consumer Goods and Materials of note.

Negative Sectors On Monday: Real Estate 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:  

 FDX CTAS SCS of note.

Wednesday Before The Open:

GIS PAYX TTC  of note.

Earnings This Morning Of Note

Beat:

NAV +0.06, WOR +0.02 of note.

Missed:   

None of note.

Still to Report: JBL

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

Top News Story:  

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

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

Stocks making the biggest moves. (CNBC)

British Prime Minister Boris Johnson Brexit Bill proposes that transition period cannot last beyond December 2020. (CNBC)

Mexico now “very satisfied with USMCA labor regulations. (The Washington Post)

China to restart purchases of ethanol and drop tariffs to buy $40-50 billion of ag products. (Bloomberg)

Boeing (BA) will still burn $1 billion a month with halt of the 737 Max. (CNBC)

Eli Lilly (LLY) moves 2020 guidance above consensus.

Southwest Airlines (LUV) removes the Boeing (BA) 737 Max 8 from schedule until April. (CNBC)

Congress to end tax on expensive healthcare plans and the medical device tax in year end spending bill. (Forbes)

Apple (AAPL) iPhone sales fell 30% in China reports Rosenblatt channel check. (CNBC)

All  stock indexes remain strong. Current through 12/16.

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 12/1. Year to date model up 15.48% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 6.75%.

YTD 65% (+1% change week over week) of stocks are higher and 35% are lower. Updated  through 12/13 close. UPDATED

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 12/16.

Economic & Related:

November Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,340,000 from 1,314,000.

November Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 0.8% from -0.8%.

API Petroleum Institute weekly data due out at 4:30 p.m. EDT.

Geopolitical:      

President Trump will meet with the President of Guatemala starting at 1:45 p.m. EDT.

Conferences & Analyst Meetings:

Investor/Analyst Days & Conference Calls of Note:  SSTI UNM (Investor Day)  CYDY LLY (Conference Call)  MUX (Webinar) SGMO (R&D Day)

Sellside Conferences: None of note.

Industry Conferences: None of note. NYC 8th Annual Investor Summit.

M&A Activity

Tech Data (TECD) to buy Inflow Technologies, no terms.

Upgrades & Downgrades

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