Breaking News – 

Corporate Actions

IPOs on deck:  None of note.

IPOs Filed: None filed after the close.

Secondaries on deck: STIC of note.

Notes Priced:  None of note.

Common Stock filings: TNP SITC 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:

HMST +0.21, LOGI +0.11, AMTD +0.09, ZION +0.09, BXS +0.08, HSTM +0.05, HLX +0.05, CDNS +0.03, CE +0.03, ELS +0.02, HXL +0.02, HOPE +0.02, ACC +0.01, IBTX +0.01  of note.

Missed:

RNST (0.06), TACO (0.04) of note

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

TD Ameritrade (AMTD) notes that zero commissions will impact revenues by 15-16%.

Howard Hughes (HHC) names Paul Layne as CEOand announces Transformation Plan following strategic review.

Stamps.com (STMP) announces collaborative shipping solutions with the U.S. Post Office.

Stock Repurchase: RNST CNC DOOO

Dividend Increase: SFBS AMTD

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

Gap Higher: BIIB +43%, STMP +30%, GNC +20%, FBP +12%, SNV +6%, AMTD +4%, CDNS +4%

Gap Lower: HHC -16%, TACO -13%, PII -9%, HAS -9%, TNP -3%

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +4 Dow Jones Industrial Average -7 NASDAQ +27 Russell 2000 +3  Fair values are lower. Asia higher and Europe mixed.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $129.73 from $129.78 with yields at 1.776% from 1.78%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Monday: Conglomerates, Financials, Materials, Energy and Services of note.

Negative Sectors On Monday:  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 Friday’s close. Mixed action.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: TXN CNI EQR DFS CMG CSGP SNAP WRB WHR TER CSL EEFT MPWR SKX of note.

Wednesday Before The Open: BA TMO LLY CAT ANTM BX BSX GD WM NSC ABB APH HLT RCI ALXN NTRS GWW NDAQ of note.

Earnings This Morning Of Note

Beat:

ARCH +2.89, BIIB +0.95, LMT +0.60, UTX +0.18, SHW +0.15, PG +0.13, NEE +0.11, PII +0.10, PHM +0.09, NVS +0.09, CIT +0.08, MLI +0.08, PPBI +0.08, EDU +0.06, TRU +0.05, DGX +0.05, KMB +0.05, MTG +0.05, JBLU +0.05, FBC +0.03, HOG +0.03, IPG +0.02, ABG +0.01, GPK +0.01, POL +0.01, CNC +0.01, UPS +0.01   of note.

Missed:

TRV (0.92), HAS (0.33), TTS (0.04), SNV (0.03), FITB (0.02)  of note.

Flat:

FBP +0.00, RF +0.00, WBS +0.00  of note.

Still to Report: 

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

Top Story: British Parliament discussing the withdrawal agreement and should know something by 2:00 p.m. EDT. (Bloomberg)Five Things You Need To Know To Start Your Day. (Bloomberg)

Wall Street Journal Lead Headline: U.S. Troops Draw Kurds’ Scorn As They Leave Syria for Iraq

Stocks Making The Biggest Moves. (CNBC)

Canadian Prime Minister Justin Trudeau wins a second term but loses the majority. (CNBC)

Chinese Foreign Minister Wang Yi confident can reach investment deal with the EU. (South China Morning Press)

Chinese Vice Foreign Minister Le Yucheng makes some progress on trade talks with U.S. (Reuters)

ISIS to benefit from U.S. withdrawal from Syria. (NYT)

Under Armour CEO Kevin Plank to be replaced by Operating Chief Patrick Frisk. Plank moves to Executive Chairman and Brand Chief. (CNBC)

Biogen (BIIB) seeks approval of Alzheimer’s drug. (CNBC)

McKinsey notes that 50% of the banks would not survive a economic downturn. (Bloomberg)

Data Points

Stock indexes remain strong. Current through 10/21.

Bold means a change from prior day.

The advance/decline line model moved to a buy  yesterday morning. Updated through 10/21. Year to date model up 9.29% on the S&P 500. 5 buy signals and 4 cash signals in 2019.

YTD 60% (no change week over week) of stocks are higher and 40% are lower. Updated 10/18/19 close with next update on 10/25/19 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 10/21.

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 Existing Home Sales are due out at 10:00 a.m. EDT and expected to fall to 529,000 from 542,000.

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

Geopolitical:

President Trump receives his intelligence briefing and then lunches with the Secretary of State.

$40 billion of 2 Year Treasury Notes auctioned at 1:00 p.m. EDT.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:   INGY (Business Update Call) 

Sellside Conferences: None of note.

Industry Conferences: Mobile World Congress U.S. (10/22-10/24), BIO Investor Forum (10/22-10/23).

M&A Activity:

Alarm.com buys OpenEye, no terms.

First Bancorp (FBP) to buy Banco Santander Puerto Rico for $425 million.

Upgrades & Downgrades: