IPOs on deck:   None of note.

IPOs Filed:  None of note.

Secondaries Priced: EFC  of note.

Notes Priced: None of note.

Common Stock filings: SIBN BPMC APLT EFC ADPT ZLAB NVAX of note.

Mixed Shelf Offerings:  ELAN of note.

Convertible Offering Files: None  of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

NFLX +0.77, COF +0.14, NAVI +0.09, TBK +0.05, UCBI +0.03, UAL +0.03, IBM +0.02, PNFP +0.01, RNST +0.01 of note.

Missed:

WTFC (0.14), ZION (0.13), AMTD (0.03), FULT (0.02) of note.

Hourly Action This Week: Updated 1/17

News After The Close (In Order of Time)

Adaptive Biotechnologies (ADPT) raises 2019 guidance.

Intel (INC) announces that Andy Bryant to step down as Chairman and Omar Ishark to replace him.

Saudi Prince hacked the phone of Amazon (AMZN) CEO Jeff Bezos. (Bloomberg)

Index Changes: S&P 400 adds CIT.

Stock Repurchase Announcements:   None of note.

Dividend Increases:  OGS  CPLP NRG of note.

Gap Higher: MNLO +7%, EXPR +6%, CIT +6%, NAVI +6%, ACMR +4%, IBM +4%, SUPN +4%, HZNP +4%

Gap Lower: NVAX -11%, ADAP -5%, HCM -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 +11 Dow Jones Industrial Average +89  NASDAQ +48 Russell 2000 +7.1. Fair values are lower. Asia and Europe mixed.

Gold, silver and copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $129.52 from  $129.31 with yields at 1.776% from 1.795%. Prices as of 8:15 a.m. EDT.

Positive Sectors On Tuesday: Utilities and Real Estate.

Negative Sectors On Tuesday:  Materials, Energy, Industrials and Services 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:  

 TXN LVS KMI CTXS RJF TER PTC SLG STLD STL SLM CNS ADTN of note.

Thursday Before The Open:

 PG CMCSA UNP KMB VFC TRV LUV STM MTB KEY FCX HBAN AAL JBLU PACW BKU AIT of note.

Earnings This Morning Of Note

Beat:

TDY +0.34, FITB +0.23, CBSH +0.06, ALLY +0.02, JNJ +0.01 of note.

Flat:

CBU +0.00, ABT +0.00

Missed:   

NTRS (0.04), BKR (0.04), RCI (0.02), ASML (0.01) of note.

Still to Report: APH, BOKF, HTLD, PLD

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)

China seeks to control Corona Virus as case appears in Hong Kong. (Bloomberg)

First day of the impeachment trial reviewed and rules set. (CNBC)

President Trump calls Boeing (BA) a “very disappointing company” this morning. (CNBC)

President Trump gives interview to CNBC. (CNBC)

President Trump threatens tariffs on European care imports. (CNBC)

Apple (AAPL) to start production of  low cost iPhone in February. (Bloomberg)

Supreme Court denies fast track to Affordable Care Act case. (WSJ)

Stock Index Tracking

All  stock indexes have improved recent weakness. Current through 1/21 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 1/21. 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 1/21.

Economic & Related:

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

Geopolitical:      

President Trump completes his trip to The World Economic Forum and returns to Washington D.C after the close of trading. 

The World Economic Forum continues in Davos, Switzerland.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: DARE EGLE  (Conference Call) EXPR (Update) BNS (Investor Day)

Sellside Conferences: Jefferies Winter Restaurant, Food Services, Game, Lodging & Leisure Summit (1/21-1/22). TD Securities Mining Conference (1/22-1/23).  Barclays Insurance CIO  Conference & Roundtable (1/22-1/24). Stifel Senior Housing and Health Real Estate Conference (1/22).

Industry Conferences: Winter Clinical Dermatology Conference (1/17-1/122). Regenerative Medicine Foundation World Stem Cell Summit (1/21-1/24).

M&A Activity

VMware (VMW ) to buy Nyansa, no terms.

FB Financial (FBK) to merge with Franklin Financials Network (FSB).

Eaton (ETN) to sell hydraulics business to Danfoss A/S for $3.3 billion.

Upgrades & Downgrades