CAPIS Morning Note – 10/18/19 China Growth Slows to 6%
Breaking News – Corporate Actions IPOs on deck: Galileo Acquisition Unit of note. IPOs Filed: None filed after the close. Secondaries on deck: TW KOF of note. Notes Priced: of note. Common Stock filings: NNA of note. Mixed Shelf Offerings filed: None of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Courtesy of IPO Financial…
Breaking News –
IPOs on deck: Galileo Acquisition Unit of note.
IPOs Filed: None filed after the close.
Secondaries on deck: TW KOF of note.
Notes Priced: of note.
Common Stock filings: NNA of note.
Mixed Shelf Offerings filed: None of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
ISRG +0.44, ETFC +0.06, WAL +0.05, TEAM +0.04, EXPO +0.02, MRTN +0.02, FFBC +0.01, FFIN +0.01, PBCT +0.01, WDFC +0.01 of note.
OZK (0.01) of note
BDN +0.00 of note.
News After The Close: (In time order after the close)
Huntington Banc (HBAN) names Zachery Wasserman as CFO.
Covenant Transport (CVTI) lowers Q3 guidance.
Transocean (RIG) provides fleet update and adds $75 million of backlog bringing total to $10.8 billion.
Secretary of Energy Rick Perry announces that he will be stepping down.
Nordstrom (JWN) sees its Treasurer and Chief Accounting Officer Kelley Hall leave, names Anne L. Bramman who is CFO to Chief Accounting Officer.
AT&T (T) reaches potential resolution with Elliott Management that includes a strategic review.
Dividend Increase: SXT
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: RDHL +10%, QTNT +9%, ENDP +7%, MRTN +4%
Gap Lower: GIL -18%, NNA -17%, CVTI -13%, BDN -11%, HBI -5%, WDFC -5%, EXPO -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 +2 Dow Jones Industrial Average +19 NASDAQ +1 Russell 2000 +0.40 Fair values are lower. Asia mixed and Europe mixed.
Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $129.78 from $129.77 with yields at 1.77% from 1.771%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Thursday: Healthcare, Services, Industrials and Consumer Goods of note.
Negative Sectors On Thursday: None of note.
One Month Winners: Utilities, Consumer Goods and Technology.
Three Month Winners: Utilities, Industrials and Consumer Goods.
Six Month Winners: Utilities, Consumer Goods, Technology and Financials.
Twelve Month Winners: Utilities, Technology, Services, Consumer Goods and Financials.
Year to Date: Technology, Industrials, Consumer Goods, Services and Utilities.
Hourly Action This Week:
Updated through Wednesday’s close. Mixed action.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: MINI of note.
Monday Before The Open: SAP HAL LII CBU CNB NWBI SALT PETS of note.
Earnings This Morning Of Note
SYF +0.47, AXP +0.06, ABCB +0.04, IBKC +0.03, SLB +0.03, CFG +0.02, STT +0.02 of note.
SXT (0.05), MAN (0.01) of note.
Still to Report: GNTX, HTLD, KSU, MDSO, NVR
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top Story: China grows in Q3 slows to 6% GDP which is the lowest in 30 years. (CNBC)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Chinese importers ramp up soybean purchases from Brazil, not U.S. (Reuters)
Fighting breaks out in Turkey, ceasefire in question. (WSJ)
British lawmakers to vote on Brexit deal on Saturday. (NYT)
Innophos Holding (IPHS) may receive a bid from One Rock Capital. (Bloomberg)
Anheuser Busch (BUD) accuses Molson Coors Brewing (TAP) of stealing recipe. (WSJ)
Taiwan Semiconductor (TSM) raises 5G penetration forecast. (WSJ)
General Motors (GM) workers will stay on strike another week until they vote on a new deal. (CNN)
Stock indexes remain strong. Current through 10/17.
Bold means a change from prior day.
The advance/decline line model moved to a buy yesterday morning. Updated through 10/17. Year to date model up 8.73% on the S&P 500. 4 buy signals and 4 cash signals in 2019.
YTD 60% (no change week over week) of stocks are higher and 40% are lower. Updated 10/11/19 close with next update on 10/18/19 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 10/17.
Courtesy of Phil Erlanger Research, Inc.
The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA
Economic & Related:
September Leading Indicators are due out at 10:00 a.m. EDT and are expected to remain at 0%.
President Trump heads.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: ARWR BIOL SCHW (Investor Day or Updates)
Sellside Conferences: Guggenheim Broadcasting Symposium.
Industry Conferences: American Society of Human Genetics Annual Meeting (10/15-10/19). North American Pediatric Gastroenterology, Hepatology and Nutrition Annual Meeting (10/16-10/19)
Marriott (MAR) to buy Elegant Hotels Group for $130.1 million.
DTE (DTE) buys gathering systems and pipeline from Momentum Midstream and Indigo natural Resources for $2.25 billion.
Upgrades & Downgrades: