CAPIS Morning Note -5/18/20 Moderna (MRNA) Puts Up Positive Phase One Data On Eight Patients
Lead Headline: Moderna (MRNA) announces positive Phase I data on 8 patients for their vaccine in generating antibodies. (CNBC) 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: TPTX BLUE of note. Mixed Shelf Offerings: TPTX UHT HOOK TNET IAG HCI UMH of…
Lead Headline: Moderna (MRNA) announces positive Phase I data on 8 patients for their vaccine in generating antibodies. (CNBC)
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: TPTX BLUE of note.
Mixed Shelf Offerings: TPTX UHT HOOK TNET IAG HCI UMH of note.
Convertible Offering Files: NVST of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Gap Up: FLGT +34%, DCPH +9%, VIR +9%, TOT +7%, RDS.A +6%, BP +6%, HAL +6%, SLB +4%, XOM +4%.
Gap Down: JCP -30%, CCXI -10%.
Hourly Action This Past Week: Updated 5/15 Close
News After The Close (In Order)
Various hedge fund managers were out after the close with their latest 13-F filings.
Gilead Sciences (GILD) will conclude two clinical studies that conclude at the end of month. (Reuters)
Federal Reserve releases May Financial Stability Report after the close and states that another wave would be problematic.
Department of Justice and several state attorney generals to file antitrust lawsuits against Google (GOOGL) over ad business.
Fitch takes France’s outlook to negative from stable.
BAE Systems (BAESY) wins $1.2 billion contract from Defense Logistics Agency.
J.C. Penney (JCP) files for bankruptcy under Chapter 11.
House passed $3 Trillion Stimulus Bill but likely to die in the Senate.
Raises Guidance: PLT
Withdraws 2020 Guidance:
Dividend Increase: CWH (one time speacial dividend of $0.73)
Dividend Cut or Suspended:
Share Buyback Announcements:
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 +665 NASDAQ +47 Russell 2000 +65.21 Fair values are higher. Asia mixed 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 $139.27 from $139.56 with yields at from .60%.
Positive Sectors On Friday: Materials, Communication Services and Consumer Cyclical of note.
Negative Sectors On Friday: Utilities, Financials and Real Estate of note.
One Month Winners: Technology, Healthcare and Communication Services of note.
Three Month Winners: None of note.
Six Month Winners: Healthcare and Technology of note.
Twelve Month Winners: Healthcare, Technology and Communication Services of note.
Year to Date: None of note.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: BIDU BILI IQ BVN of note.
Tuesday Before The Open: WMT HD AAP ATHM WB KSS SINA EXP SFL DY of note.
Earnings This Morning Of Note
IGT +0.10 of note.
MSGE (1.21), SE (0.32) of note.
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 Making The Biggest Moves. (CNBC)
Coronavirus update: Markets like Moderna news.
IHME raises mid point guidance for U.S. COVID-19 deaths through August 4th to 147,040 from 137,184 deaths on May 18th.
WHO meeting may look at responses against China for starting the coronavirus. (NYT)
Federal Reserve Chairman Jerome Powell was interviewed on 60 Minutes and showed concern over a second wave and impact on economy. (CBS)
China tells U.S. stop actions against Huawei. (Reuters)
Senate has no plans for another stimulus plan. (Politico)
Oil up 9% this morning as expiration nears. (CNBC)
Stock Index Tracking
Current through 5/15 close. Moving averages are mixed but will rebound today somewhat.
Bold means a change from prior day.
The advance/decline line model moved to cash Friday. Updated through 5/15 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.25% with the S&P 500 lower by -11.36% through Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy gained 12.89% through Thursday’s close. The advance/decline line has to be above 5,400 Thursday to avoid a move to cash ending the sell signal. That did not happen. As such, if you are following the model then you are in cash.
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. Updated through 5/15 close. EVL Ranges remain above normal and are highlighted in blue had started to drop but the action the last couple of days ended that possibility.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NAHB Housing Market Index, housing starts, Philadelphia Fed Index, existing home sales and leading indicators.
The May NAHB Housing Market Index is out at 10:00 a.m. EDT and is expected to come in at 34 from 30. Then at 4:00 p.m. EDT the President and First Lady participate in a video conference call wit the Governors.
Geopolitical & Related
President Trump will participate in a roundtable with restaurant leaders at 2:00 p.m. EDT.
The World Health Organization (WHO) holds its 73rd World Health Assembly.
Tonight the Reserve Bank of Australia (RBA) is out with its latest minutes at 7:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: (Conference) SPINE APY (Investor/Analyst Meeting) MSFT (Webcast)
Sellside Conferences: Needham Virtual Technology & Media Conference (5/15-5/20). Bank of America Auto Summit (5/15-5/18) UBS Virtual Healthcare Conference (5/18-5/20). JP Morgan Annual Homebuilding and Building Products Conference (5/18-5/19).
Industry Conferences: American Thoracic Society (5/15-5/20). American Urological Association Annual Meeting (5/15-5/18)
Upgrades & Downgrades: