IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced: EXAS of note.

Common Stock filings:   BKH of note.

Mixed Shelf Offerings: TXMD UNH of note.

Convertible Offering Files: EXAS of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

 OII +0.24, HLIO +0.19, BCC +0.18, ITRI +0.17, KEYS +0.16, INTU +0.14, HPQ +0.11, RTRX +0.11, MEDP +0.10, TREX +0.10, CSOD +0.09, FBM +0.08, AWR +0.07, TNDM +0.07, SAIL +0.07, SHAK +0.07, BWXT +0.07, PLOW +0.07, PANW +0.07, MMSI +0.06, ARLO +0.05, XHR +0.05, KAMN +0.04, HTZ +0.03, GH +0.03, HLX +0.02, EVER +0.02, NSA +0.01, PROS +0.01, RCII +0.01, THC +0.01  of note.

Missed: 

HALO (0.10), APTS (0.05), APY (0.01), AXGN (0.01), KTOS (0.01), OKE (0.01), CDEV (0.01) of note.

Flat: 

EPR +0.00 of note.

Hourly Action This Week: Updated 2/21 Close

News After The Close (In Order of Time)

Intuit (INTU) buys Credit karma for $7.1 billion.

21 Vianet (VNET) announced a private placement of $100 million of convertibles.

Moderna (MRNA) ships first batch of vaccine for coronavirus with human trials to begin in April.

United Airlines (UAL) withdraws full year guidance.

Stock Buybacks: KIM BHE HPQ AIG

Dividend Increases: BWXT FITB

Gap Higher: MNK +20%, MRNA +19%, MMSI +10%, PRGO +10%, RCII +9%, PROS +7%, KEYS +5%, ITRI +4%, INTU +4%

Gap Lower: TUP -24%, PANW -16%, KTOS -13%, EVER -12%, SHAK -11%, CPS -10%, MGI -8%, CLVS -8%, EXAS -7%, BSM -7%, CSOD -7%, TNDM -6%, GH -6%, AXGN -4%, HTZ -4%, APTS -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 +14 Dow Jones Industrial Average +123  NASDAQ +60 Russell 2000 +4.2 . Fair values are lower. Asia and Europe lower.

Gold, silver higher and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.69 from $132.48  with yields at 1.394% from 1.488% .  Prices as of 8:30 a.m. EDT.

Positive Sectors On Monday: None of note.

Negative Sectors On Monday: All lower.

One Month Winners: Conglomerates and Utilities.

Three Month Winners: Conglomerates, Utilities, Technology and Consumer Goods.

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

Twelve Month Winners: Consumer Goods,Technology, Utilities, Services and Industrials.

Year to Date: Conglomerates, Utilities and Technology.

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

Today After The Close:  of note.

Tuesday Before The Open:   of note.

Earnings This Morning Of Note

Beat: 

LL +0.35, MNK +0.35, LGIH +0.23, HD +0.17, M +0.16, TA +0.12, BNS +0.08, RLGY +0.08, SRC +0.06, BLD +0.06, AMT +0.05, LNTH +0.04, BMO +0.04, TRI +0.04, NPO +0.03, AVNS +0.02, DNR +0.02, SLCA +0.01, PGTI +0.01, MANU +0.01, WBT +0.01, DEA +0.01  of note.

Missed:  

IRDM (0.59), ICPT (0.42), USCR (0.41), TREE (0.31), AMWD (0.15), DDS (0.14), FCN (0.13), STWD (0.06), FRPT (0.06), INSM (0.03), UNVR (0.02), PRIM (0.01), FI (0.01)  of note.

Still To Report: 

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

Top News Story: 

5 Things To Know Before The Market Opens. (CNBC)

5 Things To Know To Start Your Day. (Bloomberg)

Stocks Moving This Morning. (CNBC)

Coronavirus update: deaths pass 2,500. (CNBC)

Coronavirus Map. (Bloomberg)

WHO says coronavirus is not contained. (WSJ)

Japan warns about a rapid expansion of coronavirus. (FT)

Joe Biden leads the South Carolina primary polls with 27%. (NBC News)

Senator Bernie Sanders releases plan to pay for his agenda.

Apple (AAPL) reopens 50% of stores in China. (Bloomberg)

Expedia (EXPE) to cut 3,000 jobs. (Bloomberg)

Stock Index Tracking

Current through 2/24 close. A struggle now.

Bold means a change from prior day.

The advance/decline line model moved to cash 1/31 and last Friday moved back to a buy. Updated through 2/18 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 2.08%. 5 buy signals and 4 cash signals in 2019. Current buy signal ended with a gain of 9.83% and began on 10/17/19. We got back to a buy last Friday as we kept the 10 DMA above +200 the last two days of that week.

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 2/24 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

February Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 132 from 131.60.

Weekly API Petroleum Data is due out at 4:30 p.m. EDT.

Geopolitical:      

President Trump will participate in a State Dinner this evening (India time) before heading to Germany.

Federal Reserve Vice Chairman Richard Clarida to speak at 3;00 p.m. EDT.

The Democratic Party holds a debate in South Carolina at 8:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  DLX JPM (Analyst Day)   FRPT (Conference Call) ARNC (Investor Day)

Sellside Conferences: BMO Capital Markets Annual Global Metals & Mining Conference (2/24-2/26). Wolfe Research Global Auto Tech & Mobility Conference (2/24-2/26). JP Morgan High Yield & Leveraged Finance Conference 2020 (2/24-2/26). Citi Asset Managers, Broker Dealers and Exchanges and Insurance Conference 92/24-2/25). D.A. Davidson NDR Portland & Midwest Conference (2/24-2/26). Wells Fargo Tech Transforming Banking Pop-up Conference (2/24).  Bank of America Animal Health Summit (2/24). JMP Securities Technology Conference (2/24-2/25). SVB Leerink Global Healthcare Conference (2/25-2/27). UBS San Francisco Mini Chemicals Conference (2/25).

Industry Conferences: North American Toy Fair (2/22-2/25).  RSA Security Conference.

M&A Activity

Intuit (INTU) buys Credit karma for $7.1 billion.

Upgrades & Downgrades through 8:30 a.m. EDT 2/254