Breaking News –
Corporate Actions
IPOs on deck: None of note.
IPOs Filed: None filed after the close.
Secondaries on deck: None of note.
Notes Priced: None of note.
Common Stock filings: None of note.
Mixed Shelf Offerings filed: RLMD of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
Beat:
None of note.
Missed:
None of note
Flat:
None of note.
News After The Close: (In time order after the close)
Quaker Chemical (KWR) lowers 2019 guidance.
Textron (TXT) wins a piece of $6.4 billion Air Force contract.
Opiod trial to begin against Cardinal Health (CAH), McKesson (MCK) and Amerisource Bergen (ABC).
The British Parliament “kicks the can down the road” again and delays Brexit vote.
Barron’s positive on DIS NFLX CMCSA CBS VIAB ROKU AAPL AMZN COP EMR PFE MDT CERN EYE . Cautious on CSCO IBM BA.
President Trump took The Doral Resort out of the running for the G-7 Meeting over the weekend.
Chinese Vice Premier Liu He will work with U.S. to address concerns over trade deal.
Huawei in early discussions to licnese 5G to U.S. firms.
Facebook (FB) licenses a deal with The Wall Street Journal and others to provide news headlines.
Stock Repurchase:
Dividend Increase:
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: YNDX +10% PUK +7% MT+5% QIWI +5% RBS +4%
Gap Lower: ENDP -12% SNN -8% TEVA -4%INFY -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 +12 Dow Jones Industrial Average +69 NASDAQ +31 Russell 2000 +15 Fair values are lower. Asia mixed and Europe higher.
Gold flat with silverand copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $129.78 again with yields at 1.78% from 1.77%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Friday: Utilities of note.
Negative Sectors On Friday: Technology , Services and Industrials 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 Thursday’s close. Mixed action.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: of note.
Monday Before The Open:of note.
Earnings This Morning Of Note
Beat:
ONB +0.07, CBU +0.03, LII +0.03 of note.
Missed:
None of note.
Flat:
HAL, SAP of note.
Still to Report: NWBI, PETS
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top Story: IMF says China growth could drop below 6% next year. (CNBC)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Bank of America (BAC) goes to free trading. (CNBC)
Another Brexit vote today? (Bloomberg)
Data Points
Stock indexes remain strong. Current through 10/18.
Bold means a change from prior day.
The advance/decline line model moved to a buy yesterday morning. Updated through 10/18. 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:
None of note for today.
Geopolitical:
President Trump holds a cabinet meeting at 11:45 a.m. EDT and then has lunch with the vice president at 12:30 p.m. EDT.
Federal Reserve Bowman speaks at 11:40 a.m. EDT.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: None of note.
Sellside Conferences: None of note.
Industry Conferences: None of note.
M&A Activity:
Community Bank (CBU) to buy Steuben Trust Corporation for $107 million.
Teradyne (TER) to buy AutoGuide Mobile Robots for $165 in cash and stock.
Upgrades & Downgrades:
