CAPIS Morning Note -1/16/20 Can Anything Stop Tesla (TSLA)? Morgan Stanley (MS) Downgrades to Underweight

IPOs on deck:  None of note. IPOs Filed:  None of note. Secondaries Priced: None of note. Notes Priced: None of note. Common Stock filings:  GWRS  of note. Mixed Shelf Offerings: None of note. Convertible Offering Files: None  of note. Senior Notes Filed:  None of note. Courtesy of IPO Financial Earnings After The Close: Beat: HWC +0.03 of note. Missed: AA -0.09 …

IPOs on deck:  None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced: None of note.

Common Stock filings:  GWRS  of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: None  of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

HWC +0.03 of note.

Missed:

AA -0.09  of note.

Hourly Action This Week: Updated 1/14

News After The Close (In Order of Time)

XPO Logistics (XPO) may may sell off one or more of its business units.

Boise Cascade (BCC) names new CEO  Nate Jorgensen as of March 6th.

Stock Repurchase Announcements: QD of note.

Gap Higher: XPO +17%, SIG +7%

Gap Lower: PSO -9%, QD -8%, PPG -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 +20 Dow Jones Industrial Average +200  NASDAQ +45 Russell 2000 +17.56. Fair values are lower. Asia and Europe higher to mixed.

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 higher vs Yen. US 10 year Treasury price is at $129.38 from  $129.31 with yields at 1.786% from 1.793%. Prices as of 8:15 a.m. EDT.

Positive Sectors On Wednesday:Utilities, Healthcare and Conglomerates of note.

Negative Sectors On Wednesday: Materials, Energy and Financials of note.

One Month Winners: Technology, Conglomerates, Consumer Goods and Services.

Three Month Winners: Healthcare, Consumer Goods and Technology.

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

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

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

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

Today After The Close:  

CSX PBCT OZRK PRGS BEDU  of note.

Friday Before The Open:

SLB STT FAST CFG RF KSU JBHT FHN of note.

Earnings This Morning Of Note

Beat:

TSM +0.35, MS +0.18, WNS +0.06, BK +0.01 of note.

Missed:   

PPG -0.13 of note.

Still to Report: SCHW HOMB

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

Top News Story:  

Stocks making the biggest moves. (CNBC)

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

Russian President Vladimir Putin misses the government and seeks to change the constitution. (CNBC)

Senate Impeachment Trial to begin with pressure on moderate GOP Senators. (Bloomberg)

Senate to vote to ratify USMCA today. (Politico)

Justice Department to look further into generic drug pricing. (WSJ)

Southwest (LUV) to remove the Boeing (BA) 737 Max from its schedule through June 6th. (CNBC)

Signet Jewelers (SIG) saw holiday sales up +1.6% and raises Q4 EPS and same store sales guidance.

New Tesla (TSLA) car registrations dropped 50% in California. (CNBC)

Stock Index Tracking

All  stock indexes have improved recent weakness. Current through 1/15 close.

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 1/14. In 2019, the model up 16.48% on the S&P 500 and this year is up 2.28%. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 10.3%.

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 1/15. Volatility is starting to rise.

Economic & Related:

December Retail Sales are due out 8:30 a.m. EDT and the estimate is for an increase to 0.3% from 0.2%.

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

The January NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to fall to 74 from 76.

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

Geopolitical:      

President Trump will receive his intelligence briefing at 11:45 a.m. EDT and at 2:00 p.m. participate in the Announcement of the Guidance on Constitutional Prayer in Public Schools.

Federal Reserve Governor Michelle Bowman to speak at 10:00 a.m. EDT. Bowman fills the community bank seat created in 2015.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  CMCSA AZRE WING (investor meeting) ENLC (Conference Call)

Sellside Conferences: UBS Midstream, MLP & Utilities One on One Conference (1/13/20-1/15/20).JP Morgan Annual Healthcare Conference (1/13/2020-1/16/2020). Santander Annual LatAm Conference (1/14-1/17).

Industry Conferences: Advanced Automotive Battery Conference Europe 2020 (1/12/20-1/16/2020). American Association for Cancer Research Special Conference on Advances in Liquid Biopsies (1/13/2020-1/16/2020).

M&A Activity

Upgrades & Downgrades