CAPIS Morning Note -11/27 Happy Thanksgiving!
Breaking News- Fox Business Host Maria Bartiromo tweets that USMCA will be voted on the floor next week and become law the week of the 12/9/ IPOs on deck: None of note. IPOs Filed: None filed after the close. Secondaries Priced: None of note. Notes Priced: None of note. Common Stock filings: ARAV of note. Mixed Shelf Offerings…
Breaking News- Fox Business Host Maria Bartiromo tweets that USMCA will be voted on the floor next week and become law the week of the 12/9/
IPOs on deck: None of note.
IPOs Filed: None filed after the close.
Secondaries Priced: None of note.
Notes Priced: None of note.
Common Stock filings: ARAV 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:
DELL +0.16, KEYS +0.15, ADSK +0.06, VMW +0.06, VEEV +0.06, GES +0.04, QADA +0.04, HPQ +0.02 of note.
CENT (0.13) of note.
Hourly Action This Week:
Close of 11/25.
News After The Close (In Order of Time)
Science Applications (SAIC) has secured $582 million in intelligence and space contracts.
Lockheed Martin (LMT) wins Navy contracts worth $830 million and $330 million.
Stock Repurchase Announcements:
Dividend Increase: MKC
Gap Higher: EDIT +4%
Gap Lower: ARAV -15%, CENT -14%, GES -6%, DE -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 +7 Dow Jones Industrial Average +31 NASDAQ +27 Russell 2000 +4.32 Fair values are lower. Asia and Europe mixed.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $129.55 from $129.62 with yields at 1.75%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Tuesday: Services, Industrials and Conglomerates of note.
Negative Sectors On Tuesday: Materials and Energy of note.
One Month Winners: Healthcare, Industrials and Technology.
Three Month Winners: Industrials, Financials and Healthcare.
Six Month Winners: Consumer Goods, Industrials, Technology and Healthcare.
Twelve Month Winners: Technology, Industrials and Services.
Year to Date: Technology, Industrials, Technology, Consumer Goods, Services and Financials.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close:
Friday Before The Open:
Earnings This Morning Of Note
DOYU +0.06 of note.
FRO (0.09) of note.
DAKT +0.00, DE +0.00 of note.
Still To Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know To Start Your Day. (CNBC)
Beijing responds to Hong Kong elections. (CNBC)
President Trump notes “in the final throes of very important deal” but is “holding up deal” to get better terms. (Bloomberg)
NAFTA ministers meet today to discuss USMCA replacement. (Politico)
FAA will be only entity to issue Boeing (BA) 737 Max airworthiness certificates. (Reuters)
Boeing (BA) fails a stress test causing rip in the body of the plane. (Seattle Times)
Rio Tinto (RIO) ups new iron ore projects in Australia worth $4 billion becasue of demand from China. (Bloomberg)
FDA notes that cannabis compound CBD has “potential to harm”. Negative on following stocks MJ ACB TLRY CRON CGC WBA CVS. Note this is recycled story from two days ago. (MarketWatch)
Netflix (NFLX) released The Irishman this morning. (CNBC)
Notable Data Points
Most stock indexes saw some improvement on Friday. Current through 11/26.
Bold means a change from prior day.
The advance/decline line model is now a buy. Updated through 11/26. Year to date model up 13. 09% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.
YTD 64% (+1% change week over week) of stocks are higher and 38% are lower. Updated through 11/15 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 11/22.
Economic & Related:
The latest API Petroleum Data came out at 4:30 p.m,. EDT and rose 3.6 million barrels for crude oil and gasoline stockpiles rose 4.3 million barrels.
October Personal Income is due out at 8:30 a.m. EDT and is expected to remain at 0.3%.
Q3 GDP (second estimate) is due out at 8:30 a.m. EDT and is expected to remain at 1.9%
October Durable Orders are due out at 8:30 a.m. EDT and are expected to improve to -0.7% from -1.1%.
The latest Federal Reserve Beige Book is due out at 2:00 p.m. EDT.
The latest NYSE and NASDAQ Short Interest came out after the close through November 15th and saw NYSE drop by -0.19% and NASDAQ drop by -0.09%.
$32 Billion 7 Year Auction at 1:00 p.m. EDT.
President Trump will enjoy his day in sunny Mar a Largo, no events scheduled.
Conferences & Analyst Meetings:
Investor/Analyst Days & Conference Calls of Note: None of note.
Sellside Conferences: None of note.
Industry Conferences: Los Angeles Auto Show (11/22-12/1).
Curtis-Wright (CW) to buy 901D Holdings for $132 million in cash.
Upgrades & Downgrades