Corporate Actions 

IPO News: 

IPOs on deck: 5 IPOs due this week all in the Biotech space.

IPOs Filed:  None filed after the close.

Secondaries on deck: None of note.

Notes Priced:   None of note.

Common Stock filings: GO 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

Earnings After The Close: 

Beat:

 SFIX +0.03 of note.

Missed:

UNFI (0.11) of note

Flat:

LNDC

News After The Close: (In time order after the close)

UAW still not accepting General Motors (GM) terms for a new contract as UAW VP Terry Dittes sends letter to members.

Nuance (NUAN) spins off Cerence (CRNC) as of today.

TD Ameritrade (AMTD) eliminates commissions on stocks, ETFS and options as of Thursday.

The State Department Inspector General requests a meeting with several House Committees over Secretary of State Mike Pompeo’s supposed threats on State Department  employees.

Stock Repurchase: 

Dividend Increase: OZK

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: TSG +44%, VHC +23%, AIMT +8%, LNDC +7%, NEXT +7%, CALA +4%, MGI +4%

Gap Lower: UNFI -19%, SFIX -9%, GO -5% 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  Futures traded sideways until 3:00 a.m. EDT and then fell to a low before beginning to recover at 

S&P 500 -18.75 Dow Jones Industrial Average -168 NASDAQ -56 Russell 2000 -10.80. Fair values are higher. Asia and Europe lower.

Gold and silver higher while copper lower. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is flat. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $130.84 from $129.84 with yields at 1,623% from 1.734% . Prices as of 8:45 a.m. EDT.

Positive Sectors On Tuesday: None.

Negative Sectors On Monday: Materials,Energy, Financials and Industrials.

One Month Winners: Utilities, Consumer Goods, Materials and Financials.

Three Month Winners: Utilities and Consumer Goods.

Six Month Winners: Utilities, Consumer Goods and Financials.

Twelve Month Winners: Utilities, Technology, Consumer Goods and Financials.

Year to Date: Consumer Goods, Industrials and Utilities.

Hourly Action This  Week:

Updated through Monday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  BBBY RECN of note.

Thursday Before The Open:  PEP STZ ISCA ANGO of note.

Earnings This Morning Of Note  

Beat: 

 LEN +0.27, RPM +0.04, PAYX +02 of note.

Missed:

None of note.

Flat:

Still To Report: AYI LW

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

Top Story: North Korea fired another missile very early this morning from a sub after agreeing to more talks yesterday. (CNN)

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

Five Things To Know Before The Market Opens Today. (CNBC)

U.K. Prime Minister Boris Johnson to issue EU a Brexit ultimatum today. (Bloomberg)

Trump Administration to approve plan to increase ethanol and biodiesel fuels. (Bloomberg)

State Department Inspector General to appear before House Committees. (ABC News)

President Trump to give speech tomorrow on Medicare Advantage. (Bloomberg)

Tesla (TSLA) will start China production in November. (Reuters)

Data Points

Stock indexes reversed Monday’s improvement as all indexes lost more than -1%.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through 10/1/19 close. Year to date model up 8.73% on the S&P 500. 4 buy signals and 4 cash signals in 2019. The model is now in cash  with a gain of 1.28% on the recent buy.

YTD  63% (-3% week over week) of stocks are higher and 37% are lower. Updated 9/27/19 close with next update on 10/4/19 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 Monday’s close.

Courtesy of Phil Erlanger Research

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:

API Petroleum Institute Data released its latest numbers yesterday and Crude Oil Inventories fell 5.92 million barrels.

Weekly Mortgage Applications rose 8.1% and refis rose  14% over last week.

September ADP Employment Report is due out at 8:15 a.m. EDT and is expected to come in at 150,000 from 195,000.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Geopolitical:

President Trump will meet with the President of Finland.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  F (Conference Call)  SWX CLX (Analyst Day) GRPO VEEV ENS CAL CVE TK (Investor Meeting/Day) MSFT (Product Event)

WTO decision on EU aircraft subsidies out at 10:00 a.m. EDT which could led to $7.5 billion in tariffs on the EU.

Sellside Conferences: Credit Suisse Annual Commodities Conference. Cantor Fitzgerald Global Healthcare Conference. Credit Suisse Minerals Conference.

Industry Conferences:   European Respiratory Society International Congress. European Society 0f Intensive  Care Medicine. Red Hat (IBM) Forum 2019.

M&A Activity:

Upgrades & Downgrades: