CAPIS Morning Note – 4/17/20 Gilead Sciences (GILD) Drug Remdesivir Shows Promise In Trials, Futures Fly
IPOs on deck: None of note. IPOs Filed: None of note. Secondaries Priced: CUTR of note. Notes Priced of note: None of note. Common Stock filings: CUTR of note. Mixed Shelf Offerings: DSSI MVC of note. Convertible Offering Files: None of note. Senior Notes Filed: COST of note. Courtesy of IPO Financial Earnings After The Close: Beat: ISRG +0.15, MRTN +0.01 of note….
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: CUTR of note.
Notes Priced of note: None of note.
Common Stock filings: CUTR of note.
Mixed Shelf Offerings: DSSI MVC of note.
Convertible Offering Files: None of note.
Senior Notes Filed: COST of note.
Earnings After The Close:
ISRG +0.15, MRTN +0.01 of note.
WAL (0.28) of note.
Gap Ups: BCRX +25%, MESO +22%, CEQP +21%, HCM +15%, MRNA +15%, GILD +11%, JWN +10%, BA +10%, FUN +9%, UBER +7%, EOLS +6%, TXT +5%, JACK +5%, LULU +4%
Gap Downs: CUTR -14%, APT -8%, NLS -7%, PTON -7%, LAKE -5%, ZM -4%
Hourly Action This Past Week: Updated 4/16 Close
News After The Close (In Order)
Lululemon Athletica (LULU) CFO Patrick Guido to leave as of May 8th.
Jack In The Box (JACK) names new CEO Darin Harris.
Gilead Sciences (GILD) sees positive early trial data for COVID-19 patients using Remdesivir.
Boeing (BA) to resume airplane production next week at Puget Sound.
Textron (TXT) wins $390 million Navy contract.
President Trump reveals plans to reopen the country with Phases I, II and III.
Moderna (MRNA) wins $483 million contract from the U.S. government to work on COVID-19 vaccine.
Withdraws Guidance: COLM AMWD WLDN VICI VCYT GMED UBER WELL
Dividend Decreases: COLM FUN DAN GPP LVS
Share Buybacks Stopped: COLM SPFI
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +70 Dow Jones Industrial Average +701 NASDAQ +144 Russell 2000 +60. Fair values are lower. Asia and Europe higher.
Gold and silver lower with 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 $138.88 from $139.28 with yields at 0.62% from 0.611%.
Positive Sectors On Thursday: Healthcare, Services and Technology of note.
Negative Sectors On Thursday: Materials, Energy and Financials of note.
One Month Winners: Healthcare, Services and Technology of note.
Three Month Winners: None of note.
Six Month Winners: Healthcare and Technology of note.
Twelve Month Winners: Healthcare and Technology of note.
Year to Date: None of note.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: IMAX of note.
Monday Before The Open: PHG TFC MTB LII CCL HAL ALLY CBU BOH ONB EXPI of note.
Earnings This Morning Of Note
MUSA +0.70, STT +0.27, PG +0.04, SLB +0.01 of note.
CFG (0.64), IBKC (0.39), KSU (0.20), RF (0.17) of note.
Still to Report: KSU
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: Gilead (GILD) therapeutic drug Remdesivir shows promise. (CNBC)
5 Things To Know To Start Your Day. (Bloomberg)
5 Things To Know To Start Your Friday. (CNBC)
Stocks Making The Biggest Moves. (CNBC)
Coronavirus update: Russian cases rise.
Global Coronavirus Map update.
China ups death toll by 1,300. (ABC News)
4,591 died of COVID-19 in the U.S. on Thursday which is a new single day high from 2,569. (WSJ)
Congress will not be able to fund another $250 billion for small business this week. (Politico)
Senator Lindsey Graham proposes that we cancel U.S. debt the Chinese government owns for punishment over causing COVID-19. (NY Times)
Apple (AAPL) did not rule out job cuts in meeting CEO Tim Cook held with employees. (Mashable)
Weibo survey finds Apple (AAPL) iPhone SE may not be successful as a major driver for the company. (Reuters)
Stock Index Tracking
Current through 4/16 close. Expect moving averages to improve.
Bold means a change from prior day.
The advance/decline line model is now a buy on 4/2 close. Updated through 4/16 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 1.14% with the S&P 500 lower by -13.85% through Thursday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 10.17% through Wednesday’s close.
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 4/16 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
March Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to -7.1% from 0.1%.
President Trump will receive his intelligence briefing at 2:00 p.m. EDT. At 4:00 p.m. EDT the president will have a call with religious leaders.
The Coronavirus Task Force to meet at 5:00 p.m. EDT for their daily press conference.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: STOR MRNA LZAGY (Conference Call) CYDY (Webcast)
Sellside Conferences: None of note.
Industry Conferences: None of note.