CAPIS Morning Note – 4/7/20 Futures Up Sharply For A Second Day In A Row
Breaking News: IPOs on deck: None of note. IPOs Filed: None of note. Secondaries Priced: None of note. Notes Priced of note: WORK of note. Common Stock filings: None of note. Mixed Shelf Offerings:None of note. Convertible Offering Files: CIM of note. Senior Notes Filed: None of note. Courtesy of IPO Financial Earnings After The Close: Beat: None of note….
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: None of note.
Notes Priced of note: WORK of note.
Common Stock filings: None of note.
Mixed Shelf Offerings:None of note.
Convertible Offering Files: CIM of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Gap Ups: TRTX +29%, TWO +16%, VMD +13%, APRN +12%, LMNX +10%, NIO +8%, BA +7%, HL +5%, MMM +5%
Gap Downs: VRNS -6%
Hourly Action This Past Week: Updated 4/2 Close
News After The Close (In Order)
U.K. Prime Minister Boris Johnson moved to the ICU after his condition deteriorates.
Abercrombie &Fitch (ANF) to furlough employees in North America and EMEA.
Airbnb gets $1 billion investment from Silver Lake and Sixth Street.
Kraft Heinz (KHC) raises guidance for Q1.
Beazer Homes (BZH) notes that customer traffic and sales have slowed.
Wisconsin will not delay its primary for today after Supreme Court rules.
Boeing (BA) will temporarily stop 787 operations in South Carolina.
At Coronvirus Task Force meeting yesterday, Dr. Anthony Fauci noted but not get back to normal until vaccine developed.
Lowers Guidance: VRNS
Withdraws Guidance: NSTG TCMD MATX PEN GPC FLS BLKB HI ZBH NTUS CYH ALC GBX HL DHI HOLX
Stock Buybacks Stopped: VFC
Dividend Cut Or Suspended: BLKB CATO CLR
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +78 Dow Jones Industrial Average +780 NASDAQ +199 Russell 2000 +33. Fair values are higher. Asia and Europe higher.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $137.94 from $138.66 with yields at 0.73% from 0.643%.
Positive Sectors On Monday: All higher led by Financials, Industrials and Technology.
Negative Sectors On Monday: None of note.
One Month Winners: None of note.
Three Month Winners: None of note.
Six Month Winners: Healthcare of note.
Twelve Month Winners: All in the red.
Year to Date: None of note.
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
GBX +0.20, LNN +0.04, ANGO +0.02 of note.
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story:
5 Things To Know To Start Your Day. (Bloomberg)
5 Things To Know Before Stock Market Opens On Tuesday. (CNBC)
Coronavirus update: Spain’s daily death rate rises, Japan to declare emergency.
Spain sees COVID-19 cases drop a fourth day in a row.
China reported no deaths after a long weekend. (Guardian)
Russia and Saudi Arabia to cut production and U.S. offers reductions. (Bloomberg)
U.K. Prime Minister Boris Johnson is not on a ventilator. (CNBC)
Democratic House Speaker Nancy Pelosi notes next stimulus bill will cost more than $1 trillion. (The Washington Post)
Tesla (TSLA) to offer a new Model 3 with greater range. (Bloomberg)
Exxon (XOM) to cut capex by 30%, dividend to remain intact. (CNBC interview)
Stock Index Tracking
Current through 4/3 close. Improvement noted below.
Bold means a change from prior day.
The advance/decline line model is now a buy on Thursday’s close. Updated through 4/6 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -2.23% with the S&P 500 lower by -17.55% through Monday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 5.41%.
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 4/6 close. EVL Ranges remain above normal and are highlighted in blue.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
None of note today. A slow week ahead.
President Trump will participate in America CARES Small Business Relief Update at 3:00 p.m. EDT.
The Coronavirus Task Force to meet at 5:00 p.m. EDT for their daily press conference with the president leading the call.
$25 billion of 10 Year Treasury Notes will be sold at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: CRNX (Conference Call) JCP XFOR (Investor or Analyst Day) BSGM (Update)
Industry Conferences: None of note.