Corporate Actions 

IPOs on deck: None of note.

IPOs Filed:  None filed after the close.

Secondaries on deck: GO HRTX OVID TERP of note.

Notes Priced:  None of note.

Common Stock filings:   OVID CRM TERP of note.

Mixed Shelf Offerings filed: TERP INBK of note.  

Convertible Offering Files:None of note.

Senior Notes Filed:   None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

COST +0.13 of note.

Missed:

SGH (0.71) of note

Flat:

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

RingCentral (RNG) takes a 6% stake in Avaya (AVYA).

Stock Repurchase:  AVYA

Dividend Increase:

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

Gap Higher: MEIP +16%, AVYA +12%, RNG +6%

Gap Lower: OVID -17%, HRTX -9%, SGH -5%, HPQ -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 +34 NASDAQ +14 Russell 2000 -7 Fair values are lower. Asia mixed and Europe higher.

Gold,silver and 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 $131.55 from $131.27 with yields at 1.54% from 1.623%. Prices as of 8:45 a.m. EDT.

Positive Sectors On Thursday: All higher led by Conglomerates, Healthcare and Technology.

Negative Sectors On Thursday: None of note.

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 Thursday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: None of note.

Monday Before The Open:  None of note.

Earnings This Morning Of Note  

Beat: 

None of note.

Missed:

None of note.

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

Top Story: 

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

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

Stocks Making The Biggest Moves. (CNBC)

Ukraine’s top prosecutor to investigate Bidens’. (NYT)

Hong Kong Leader Carrie Lam goes ahead and invokes emergency powers. (CNBC)

U.S. Ambassadors pushed Ukraine to investigate Bidens’ as condition for visit. (CNBC)

President Trump asked China to investigate for Vice President Joe Biden. (NYT)

German Foreign Minister indicates that the EU will retaliate against recent U.S. tariffs. (Reuters)

Hewlett Packard (HPQ) will cut up to 16% of workforce due to printing weakness. (Bloomberg)

Apple (AAPL) asks suppliers to increase their production by 10% due to popularity of iPhone 11. (Nikkei)

Data Points

Stock indexes continue to struggle. Updated through Thursday. No changes.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through Thursday 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 Thursday’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:

September Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to rise to 150,000 from 130,000. The unemployment rate is expected to stay at 3.7%. Came in at 136,000 with revisions positive to prior months. Unemployment rate hits 3.5%. 50 year low.

Geopolitical:

President Trump will visit Walter Reed National Military Medical Center this morning.

Federal Reserve Chairman Jerome Powell speaks at 2:00 p.m. EDT.

Federal Reserve Governor Lael Brainard will also speak at 2:00 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls: CNR JWA (Investor Day) INVH VAC MEIP (Analyst Day)

Sellside Conferences: Cantor Fitzgerald Global Healthcare Conference. 

Industry Conferences:   Alliance for Regenerative Medicine – Cell & Gene Meeting.

M&A Activity:

Rattler Midstream (RTLR) and Oryx Midstream to buy Reliance Gathering for $355 million in cash.`

Accenture (ACN) to buy Nytec, no terms.

Churchill Downs (CHDN) to buy Turfway Park for $46 million.

Upgrades & Downgrades: