CAPIS Morning Note – 10/30/19 All Eyes On The Federal Reserve Announcement and Guidance
Breaking News – Fiat Chrysler (FCAU) and Peugot in merger talks. Corporate Actions IPOs on deck: LCI Systems Acquisition Unit to be priced today. IPOs Filed: None filed after the close. Secondaries Priced: DTE FBC YMAB of note. Notes Priced: WGO GVA of note. Common Stock filings: FBC YMAB of note. Mixed Shelf Offerings filed: None of…
Breaking News – Fiat Chrysler (FCAU) and Peugot in merger talks.
IPOs on deck: LCI Systems Acquisition Unit to be priced today.
IPOs Filed: None filed after the close.
Secondaries Priced: DTE FBC YMAB of note.
Notes Priced: WGO GVA of note.
Common Stock filings: FBC YMAB 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:
EA +0.89, SAM +0.38, VNOM +0.32, CYH +0.30, MGRC +0.28, MSTR +0.28, ALL +0.27, AFG +0.25, AMED +0.25, OSPN +0.21, FNF +0.19, AM +0.18, PSMT +0.17, CHE +0.15, KAI +0.14, AMGN +0.13, HURN +0.13, FMC +0.13, SIMO +0.12, EPR +0.11, UMBF +0.10, MTDR +0.10, EXAS +0.10, CB +0.09, RRD +0.09, IPHI +0.08, MDU +0.08, MAT +0.07, MOH +0.07, IEX +0.06, ZEN +0.06, ADSW +0.05, ENPH +0.05, TX +0.05, MDLZ +0.04, RXN +0.04, TENB +0.04, SILK +0.04, CAKE +0.04, YUMC +0.04, CAI +0.03, DLR +0.03, HY +0.03, MRCY +0.03, EQC +0.03, PAYC +0.03, KBR +0.02, LSCC +0.02, MXIM +0.02, UIS +0.02, DENN +0.02, FCF +0.02, ACGL +0.01, AX +0.01, RPAI +0.01, SYK +0.01, UDR +0.01, WRI +0.01, FEYE +0.01 of note.
RNR (0.74), AXS (0.63), RYI (0.39), SGEN (0.23), PTCT (0.19), AR (0.19), LDL (0.19), ATGE (0.12), AGR (0.12), NWE (0.11), BVN (0.10), EIX (0.09), AJRD (0.09), NBR (0.09), CXO (0.07), CHRW (0.07), GNW (0.06), ACCO (0.02), INVH (0.02), NATI (0.02), PSA (0.02), TCO (0.02), UNM (0.02), CCS (0.01), EXR (0.01), OKE (0.01), SYX (0.01), TCS (0.01), VRSK (0.01) of note.
AMD +0.00, APAM +0.00, BXP +0.00, FCPT +0.00, HLF +0.00, REXR +0.00 of note.
News After The Close
National Instruments (NATI) names Eric Starkloff as new CEO as Ale Davern steps down.
Herbalife Nutrition (HLF) names John Agwunobi new CEO as of March 2020.
U.K. lawmakers agree to election on 12/12 to resolve Brexit.
Green Dot (GDOT) and Walmart (WMT) extend relationship through two agreements.
Edison (EIX) may have started the Saddle Ridge fire in a report it filed.
Stock Repurchase: WBS
Dividend Increase: ASB BKH ACCO FNF JBSS (special dividend $2.00)
Hourly Action This Week:
Updated through Tuesday’s close. Mixed action.
Early Morning Gap Up/Down: (>4% or <-4%)
OSPN +23%, MAT +18%, GDOT +16%, SIMO +15%, UIS +13%, IPHI +10%, PCG +8%, TENB +7%, MXIM +7%, CXO +6%, MGRC +6%, SILK +5%, ZEN +4%, AR +4%, FMC +7%, UTHR +4%
QUAD -27%, ENPH -10%, CSII -9%, AJRD -9%, EXAS -8%, CHRW -8%, SESN -7%, LDL -7%, ACCO -7%, DB -5%, NBR -5%, CYH -4%, CCS -4%, FEYE -4%, RNR -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 +0.56 Dow Jones Industrial Average +17 NASDAQ +9.49 Russell 2000 +1.63. Fair values are mixed. Asia mixed to lower and Europe mixed.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $129.30 from $129.28 with yields at 1.826% from 1.83%. Prices as of 8:55 a.m. EDT.
Positive Sectors On Tuesday: Healthcare and Industrials of note.
Negative Sectors On Tuesday: Technology and Services 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.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close:
AAPL FB SBUX VRTX EQIX SU MET of note.
Thursday Before The Open:
SNY AMT BMY MO EL CI ICE of note.
Earnings This Morning Of Note
SNE +26.44, WCG +1.63, BG +1.01, UTHR +0.93, ETR +0.31, GRMN +0.30, OSK +0.29, AXE +0.27, LFUS +0.22, SO +0.20, LHX +0.19, CROX +0.18, CME +0.15, FLOW +0.12, WYND +0.10, LIVN +0.09, SITE +0.06, CBZ +0.06, EXTR +0.05, CRTO +0.04, JHG +0.03, SF +0.03, IQV +0.03, GE +0.03, WING +0.03, UMC +0.03, NVT +0.02, TEL +0.02, ARCC +0.02, MCK +0.01, SITC +0.01, HEP +0.01, HPP +0.01, KFRC +0.01, CLH +0.01, DAN +0.01, APTV +0.01, ADP +0.01 of note.
SUM (0.23), BDC (0.23), TUP (0.20), AUO (0.17), LECO (0.15), YUM (0.14), MDCO (0.06), CIM (0.05), NI (0.05), GLOP (0.05), SAIA (0.03), TAP (0.03), BKR (0.03), TMHC (0.02), ORBC (0.02), INSM (0.01), HES (0.01), EAT (0.01), MAS (0.01) of note.
NYCB +0.00, SC +0.00, ST +0.00, AIT +0.00, MCO +0.00, SPG +0.00 of note.
Still to Report: AAWW, DIN, HTLD, MLCO, NMRK, RCL, SMP, TNC
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know Before You Start Your Day. (CNBC)
Stocks Making The Biggest Moves (CNBC)
Top News Story: President Trump’s demand on agricultural purchases has become a key sticking point in trade talks. (Reuters)
Federal Reserve is expected to cut interest rates, The next move is more crucial. (CNBC)
House witness Lt. Colonel Alexander Vindman told House impeachment investigators that key words and phrases were omitted. (NYT)
Dr. Michael Baden concludes Jeffrey Epstein autopsy more consistent with homicidal strangulation than suicide. (Fox News)
Citigroup (C) to withdraw from 2/3 of Foreign Exchange systems. (FT)
Stock indexes remain strong. Current through 10/30.
Bold means a change from prior day.
YTD 62% (+2% change week over week) of stocks are higher and 38% are lower. Updated 10/25/19 close with next update on 11/1/19 close.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
API Petroleum Institute Data came out at 4:30 p.m. EDT. 529,000 barrels.
MBA Mortgage Application rose 0.6% after dropping -11.9% last week.
October ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall to 95,000 from 135,000.
Q3 GDP is due out at 8:30 a.m. EDT and is expected to fall to 1.5% from 2.00%.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
President Trump has lunch with the Vice President then at 5:00 p.m. EDT presents the Medal of Honor.
Boeing (BA) CEO Dennis Mullenberg to testify before the House today at 10:00 a.m. EDT.
The Federal Reserve Open Market Committee (FOMC) ends a two day meeting that concludes with a interest rate announcement followed by a press conference.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: YEXT (Investor and Analyst Day) SMBK (Conference Call on Acquisition of Progressive Financial Group)
Industry Conferences: The American College of Gastroenterology Annual Meeting (10/25-10/30) Money 20/20 2019 (10/28-10/30) HLTH Conference (10/27-10/30). IoT Solutions World Congress (10/29-10/31).
Northwest Bancshares (NWBI) buys MutualFirst Financial (MFSF) in all stock transaction value $346 million.
Clayton, Dubilier to buy Anixter (AXE) for $81 a share in cash, with a go shop clause of 40 calendar days.
Upgrades & Downgrades: