CAPIS Morning Note -3/9/20 In The Overnight Session, S&P 500 Futures Are Limit Down -5%
Breaking News: IPOs on deck: None of note. IPOs Filed: None of note. Secondaries Priced: None of note. Notes Priced of note: None of note. Common Stock filings: CMG of note. Mixed Shelf Offerings: LAND OVV DVN TCRR of note. Convertible Offering Files: Note of note. Senior Notes Filed: None of note. Courtesy of IPO Financial Earnings After The Close: Beat: …
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: CMG of note.
Mixed Shelf Offerings: LAND OVV DVN TCRR of note.
Convertible Offering Files: Note of note.
Senior Notes Filed: None of note.
Earnings After The Close:
Beat:
None of note.
Missed:
None 0f note.
Hourly Action This Week: Updated 3/5 Close
News After The Close (In Order of Time)
Apollo Global (APO) rumored to make a bid for TEGNA (TGNA) in the 20a.
FAA looks to fine Boeing (BA) $19.7 million for faulty 737 sensors installation.
South by Southwest cancelled due to coronavirus.
President Trump names Rep Mark Meadows as his new Chief of Staff.
Lowers Guidance: PKI
Withdraws Guidance: PEB
Stock Buybacks:
Dividend Increases: SUI
Dividend Decreases:
Gap Higher: KALA +15%, TLT +8%, ARDX +5%,
Gap Lower: OVV -27%, DVN -25%, FANG -24%, USO -22%, HAL -22%, SLB -18%, BP -17%, XOM -12%, RDS.A -12%, TOT -11%, PSX -6%, IWM -6%, QQQ -6%, DIA -6%, AYX -5%,
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -151 Dow Jones Industrial Average -1304 NASDAQ -435 Russell 2000 -72. Fair values are higher. Asia and Europe lower.
Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $140.17 from $137.63 and yields at 0.429% from 0.77%. Prices as of 8:20 a.m. EDT.
Positive Sectors On Friday: None of note
Negative Sectors On Friday: All lower lead by Materials, Energy, Conglomerates and Financials.
One Month Winners: None of note.
Three Month Winners: Conglomerates and Utilities.
Six Month Winners: Technology, Healthcare and Consumer Goods.
Twelve Month Winners: Technology, Consumer Goods,Utilities, Services and Healthcare.
Year to Date: Conglomerates and Utilities.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Tuesday Before The Open: of note.
Earnings This Morning Of Note
Beat:
CYOU +0.53, ANAB +0.05 of note.
Missed:
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day. (Bloomberg)
Stocks Moving This Morning. (CNBC)
Coronavirus update: Worker at Disneyland Paris tests positive. (CNBC)
Coronavirus Map. (Bloomberg)
Federal Reserve to increase repo operations to $150 billion from $100 billion. (CNBC)
Saudis slash the price of oil as well as increasing production and now at $32 down -22%. (CNBC)
The entire yield curve is now under 1.00%. (CNBC)
Senator Corey Booker (D -NJ) endorses Democratic Candidate Joe Biden.
Senator Ted Cruz (R – TX) will self quarantine after being exposed at CPAC. (CNBC)
Stock Index Tracking
Current through 3/6 close.
Bold means a change from prior day.
The advance/decline line model is now back in cash. Updated through 3/6 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -6.83% before today. 5 buy signals and 4 cash signals in 2019. We moved to cash at 3116.31 on the S&P 500.
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 3/5 close.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
No releases of note today. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NFIB Small Business Optimism Index, CPI, PPI and University of Michigan Consumer Sentiment.
Geopolitical:
President Trump will be fundraising in Florida today and back in Washington D.C. at 3:45 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: HA (Conference Call) BVN HA (Investor Day)
Sellside Conferences: Deutsche Bank dbAccess 28th Annual Media, Internet and Telecom Conference (3/9-3/11)
Industry Conferences: None of note. CERAWeek 2020.
M&A Activity
Aon (AON) and Willis Towers Watson (WLTW) combine in all stock deal.
Upgrades & Downgrades updated through 8:45 a.m. EDT.