Breaking News –
IPOs on deck: 11 IPOs to be priced this week.
IPOs Filed: None filed after the close.
Secondaries Priced: None of note.
Notes Priced: None of note.
Common Stock filings: TGH of note.
Mixed Shelf Offerings filed: ORTX KOD SLCA of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
Beat:
None of note.
Missed:
BRKB (-0.77) BHVN (0.07), CACC (0.01) of note.
Flat:
None of note.
Hourly Action This Week:
Updated through Thursday’s close.
News After The Close (In Order of Time)
Wright Medical (WMGI) may put itself up for sale.
Berkshire Hathaway (BRKB) puts up a weak quarter of earnings.
Stock Repurchase Announcements:
Dividend Increase:
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: WMGI +6%, SOHU +6%, MRVL +5%, INFY +5%, RACE +5%, SWN +4%, BB +4%
Gap Lower: UAA -16%, MCD -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 +13 Dow Jones Industrial Average +112 NASDAQ +47 Russell 2000 +13.17. Fair values are mixed. Asia and Europe higher.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $129.88 from $130.33 with yields at from 1.693%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Friday: Materials, Energy, Financials and Technology of note.
Negative Sectors On Friday: Conglomerates of note.
One Month Winners: Healthcare, Industrials, Financials and Technology.
Three Month Winners: Industrials, Financials and Consumer Goods.
Six Month Winners: Utilities, Consumer Goods, Technology and Industrials.
Twelve Month Winners: Utilities, Technology, Industrials and Services.
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:
UBER MAR OXY PRU ED NTR O PXD HIG RNG IFF STE of note.
Tuesday Before The Open:
FIS BDX AGN EMR REGN NEM ZBH PPL VST EXPO ARNC ATHM of note.
Earnings This Morning Of Note
Beat:
SOHU +0.32, LANC +0.24, CYOU +0.21, EOLS +0.16, COHU +0.12, BHC +0.12, FE +0.07, GCI +0.06, KOS +0.05, RACE +0.04, UAA +0.04, SOGO +0.03, PRIM +0.03, RBC +0.02, SPNS +0.02 of note.
Missed:
SUP (0.35) of note.
Flat:
MMYT of note.
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: Chinese Foreign Ministry notes that President Xi and President Trump are keeping in Touch. (Reuters)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Stocks Making The Biggest Moves (CNBC)
Japanese Foreign Minister notes progress on elimination of auto tariffs with U.S. (FT)
U.S. Commerce Secretary Wilbur Ross interviewed on Bloomberg notes that U.S. and Chinese Deal progressing. (Bloomberg)
McDonald’s (MCD) CEO Steve Easterbrook is out after a consensual relationship. (CNBC)
UnderArmour (UAA) shares fall on investigation by the Department of Justice and SEC on accounting issues. (CNBC)
Data Points
All stock indexes see the best possible strength. Current through 11/01.
Bold means a change from prior day.
The advance/decline line model is now a buy. Updated through 10/31. Year to date model up 10. 64% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.
YTD 62% (+2% change week over week) of stocks are higher and 38% are lower. Updated through 11/1/19 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 10/31.
Economic & Related:
September Factory Orders are due out at 10:00 a.m. EDT and are expected to drop to -0.5% from -0.1%.
Geopolitical:
President Trump will meet with the Secretary of State at 11;45 a.m. EDT, then welcome the Washington Nationals before leaving for a Keep America Great rally in Lexington, Kentucky.
Australian Reserve Bank out with its latest decision on Monday night.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: ADBE (Adobe Max), SCHW (Impact), FRC (Investor Day), A (ATT&T Business Summit)
Sellside Conferences: Gabelli & CO Automotive Aftermarket Symposium (11/4-11/5).
Industry Conferences: Kia World (11/4-11/7)
M&A Activity
Proofpoint (PFPT) to buy ObserveIT for $225 million.
Stryker (SYK) to buy Wright Medical Group (WMGI) for $30.75 a share.
Upgrades & Downgrades:
