CAPIS Morning Note – 4/8/20 President Trump Wants To Open Economy, May Be Premature
Breaking News: IPOs on deck: None of note. IPOs Filed: None of note. Secondaries Priced: None of note. Notes Priced of note: CIM of note. Common Stock filings: None of note. Mixed Shelf Offerings: CRTX of note. Convertible Offering Files: BKNG of note. Senior Notes Filed: None of note. Courtesy of IPO Financial Earnings After The Close: Beat: LEVI +0.05,…
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: None of note.
Notes Priced of note: CIM of note.
Common Stock filings: None of note.
Mixed Shelf Offerings: CRTX of note.
Convertible Offering Files: BKNG of note.
Senior Notes Filed: None of note.
Earnings After The Close:
LEVI +0.05, SGH +0.02 of note.
None of note.
Gap Ups: EFC +44%, KNOP +39%, NYMT +33%, NLY +27%, GNMK +25%, IVR +12%, PINS +11%, NVAX +8%, SGH +5%, AVID +5%
Gap Downs: TAL -9%, GSX -6%, VIPS -4%, MRSN -4%, EDU -4%, IQ -4%
Hourly Action This Past Week: Updated 4/7 Close
News After The Close (In Order)
Scientific Games (SGMS) wins 10 year contract for Iowa Lottery.
TAL Education (TAL) finds employee wrongdoing after internal audit.
Amazon (AMZN) Delivery will stop services that compete against FedEx (FDX) and UPS.
President Trump takes on WHO in daily Coronavirus Task Force call.
Raises Guidance: PINS (Q1) PRGO INSG
Lowers Guidance: IART
Withdraws Guidance: GPI PINS AVID HFC RPM
Stock Buybacks Stopped: GPI PVH
Dividend Cut Or Suspended: PVH
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +18 Dow Jones Industrial Average +158 NASDAQ +59 Russell 2000 +10. Fair values are higher. Asia and Europe lower.
Gold, silver and copper lower. 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 $137.78 from $137.94 with yields at 0.75% from 0.73%.
Positive Sectors On Tuesday: Finance, Energy, Materials and Services of note.
Negative Sectors On Tuesday: Healthcare, Utilities and Technology 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: PSMT of note.
Thursday Before The Open: DAL of note.
Earnings This Morning Of Note
RPM +0.02 of note.
MSM of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: President Trump would like to open the economy once testing is more advanced. (Bloomberg)
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.
People’s Bank of China (PBOC) to increase easing. (Reuters)
U.K. Prime Minister Boris Johnson moves to stable condition but still in the ICU.
Major ratings agency take Australia to negative.
Novavax (NVAX) vaccine for COVID-19 will see first human trial in Mid May. (Reuters)
Boeing (BA) works on 737 Max new software updates. (Reuters)
Tesla (TSLA) to furlough workers and salary cuts. (Reuters)
Stock Index Tracking
Current through 4/7 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 4/7 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -2.39% with the S&P 500 lower by -17.69% through Tuesday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 5.24%.
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 receive his intelligence briefing at 11:45 a.m. EDT. At 1:45 p.m. EDT, the president will be on a call with State, Local and Tribal leaders. At 2:30 p.m. EDT the president will meet with religious leaders.
The Coronavirus Task Force to meet at 5:00 p.m. EDT for their daily press conference with the president leading the call.
$17 billion of 30 Year Treasury Notes will be sold at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: LOW HLX (Conference Call) BGCP (Investor or Analyst Day) APPN AKAM (Webinar)
Industry Conferences: None of note.