Breaking News: Norwegian Cruise Line (NCLH) may not be a “going concern” due to COVID-19. (CNBC)
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: CODI COR INSM of note.
Notes Priced of note: None of note.
Common Stock filings: INSM COSI COR KLR DMTK of note.
Mixed Shelf Offerings: of note.
Convertible Offering Files: None of note.
Senior Notes Filed: BLMN of note.
Courtesy of IPO Financial
Earnings After The Close:
CAR +4.71, THC +0.96, WWD +0.57, VNOM +0.25, RBC +0.22, ADUS +0.18, BWXT +0.18, CRUS +0.18, WH +0.18, KMT +0.17, HLIO +0.16, JKHY +0.16, FANG +0.15, CORT +0.13, TREX +0.13, NSP +0.13, ICHR +0.11, ACGL +0.05, CHGG +0.05, PE +0.05, ACHC +0.04, XPO +0.04, O +0.03, MWA +0.03, SHAK +0.03, VRNS +0.03, FIVN +0.02, LMNX +0.02, HTGC +0.01, MOS +0.01, OHI +0.01, REXR +0.01, SWKS +0.01, EVER +0.01, LEG +0.01 of note.
Flat: KN +0.00, VAR +0.00, WMB +0.00
AIG (0.71), AXS (0.38), RMBS (0.30), PLOW (0.25), TXRH (0.19), EQC (0.07), DLB (0.05), AWR (0.05), SYKE (0.05), ALSN (0.04), ITRI (0.04), IAG (0.04), TBI (0.04), BKH (0.04), VNO (0.03), UNM (0.03), FRPT (0.02), ACCO (0.02), FN (0.02), MHK (0.01) of note.
Gap Ups: CHGG +18%, CEMI +13%, ITI +10%, AVID +9%, GNMK +9%, WH +8%, MPC +8%, NSP +7%, ACGL +7%, RMBS +7%, LMNX +7%, HTGC +7%, ALSN +6%, THC +4%, TOT +4%, QSR +4%, JKHY +4%, O +4%, ADVM +4%, MOS +4%, CORT +4%
HTZ -27%, UNM -12%, CODI -10%, FN -10%, FIVN -9.%, LB -9%, TXRH -5%, FRPT -5%, IAG -4%
Hourly Action This Past Week: Updated 5/1 Close
News After The Close (In Order)
Associated Banc (ASB) to sell Associated Benefits & Risk Consulting (ABRC) for $265.755 million in cash.
AZZ Inc (AZZ) CFO Paul Fehlman to leave 5.31 and to be replaced by Philip Schlom.
Starbucks (SBUX) to have 90% of stores opened by June.
L Brands (LB) terminates investment by Sycamore Partners.
Hertz Global (HTZ) hires Moelis and FTI Consulting for bankruptcy restructuring.
NASDAQ sees U.S. equity options volume at 201 million from 205 million in March and 134 million in April 2019.
Lowers Guidance: SWKS (Q3) FIVN (2020) ACCO (Q2) LDOS (2020) ATKR (2020) BKI (2020) TREE (Q2)
Raises 2020 Guidance: EVER LMNX
Withdraws 2020 Guidance: TXRH KMT ACHC ITRI SHAK UNM SYKE AIG MHK OHI TREX PLOW ARMK TT USFD SEE KEX INGR LGIH TDG ATI BLMN ITW
Dividend Cut or Suspension: WH JHX
Dividend Increase: CHCT
Share Buyback Announcements: LOGI
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +26 Dow Jones Industrial Average +223 NASDAQ +90 Russell 2000 +26.73 Fair values are higher. Asia and Europe higher.
Gold lower, silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, flat vs Pound and flat vs Yen. US 10 year Treasury price is at $138.83 which is unchanged with yields at from 0.60%.
Positive Sectors On Monday: Energy. Technology and Materials of note.
Negative Sectors On Monday: Industrials, Financials and Real Estate of note.
One Month Winners: Materials, Conglomerates, Financials and Services of note.
Three Month Winners: None of note.
Six Month Winners: Healthcare and Technology of note.
Twelve Month Winners: Healthcare, Technology and Consumer Goods of note.
Year to Date: None of note.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: DIS ATVI EA ALL SBAC MELI SU VRSK RSG KLAC PRU EQR SLF ANET ANET OXY EXPD of note.
Wednesday Before The Open: CVS SHOP ZTS GOLD WM AEP GM GPN ALXN FMS FTS CDW ALNY VMC KKR GPC NI KL IONS of note.
Earnings This Morning Of Note
TDG +0.71, LGIH +0.51, REGN +0.51, ADNT +0.50, AGCO +0.45, AER +0.42, APTV +0.35, ALK +0.32, W +0.31, GPI +0.27, LITE +0.21, MNK +0.21, LHX +0.21, HSIC +0.20, HWM +0.17, KEX +0.16, SEE +0.15, ATKR +0.14, ABG +0.13, BLD +0.12, TREE +0.12, BMCH +0.11, MPC +0.11, INGR +0.10, ATI +0.10, USFD +0.10, DD +0.07, WRK +0.06, AME +0.06, PQG +0.06, ACM +0.05, LPX +0.04, NS +0.04, JELD +0.04, ARMK +0.03, PINC +0.02, BKI +0.02, CTLT +0.01, HPP +0.01, LCII +0.01, WBT +0.01 of note.
MPLX (3.13), INCY (2.50), CRI (0.96), CEQP (0.79), JLL (0.42), AMCX (0.36), NRZ (0.36), SBSI (0.36), FCAU (0.35), HE (0.14), XYL (0.14), LANC (0.13), MDC (0.13), MLM (0.11), TT (0.09), DBD (0.08), PRIM (0.08), HAE (0.04), LDOS (0.04), RCM (0.03), AOS (0.03), ARCC (0.02), NEM (0.02), DEA (0.01), TRI (0.01), D (0.01) of note.
Flat: USCR +0.00, VST +0.00
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)
5 Things To Know Before The Market Opens For Tuesday. (CNBC)
Coronavirus update: Cases continue to rise as Starbucks opens more stores.
U.S. Coronavirus Map update.
IHME raised midpoint for U.S. COVID-19 deaths to 134,475 from 72,433 on 4/29.
China facing backlash from coronavirus like they did with Tiananmen Square by citizens, could hinder Belt and Road initiative. ( Reuters)
U.S. firms and trade groups request that tariffs need to be waived on several products. (Reuters)
EU consumer group wants Amazon (AMZN) and eBay (EBAY) to be liable for unsafe products. (FT)
Stock Index Tracking
Current through 5/4 close. Moving averages remain in decent shape.
Bold means a change from prior day.
The advance/decline line model is now a buy on 4/2 close. Updated through 5/4 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.69% with the S&P 500 lower by -9.89% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 15.21% through Thursday’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. Updated through 5/4 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
April ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 38.5 from 52.50.
Weekly API Petroleum Data is due out at 4:30 p.m. EDT.
Geopolitical & Related
President Trump heads to Phoenix to tour a Honeywell plant making masks and participate in a roundtable with Native Americans at 2:00 p.m. EDT followed by the tour at 3:15 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: MLSS NFG (Conference Call) FNWB KMPR EBTC DELL FND STSA NOW (Investor/Analyst Meeting).
Sellside Conferences: Maxim Group Infectious Disease Virtual Conference (5/5/20). Wells Fargo Virtual Industrials Conference (5/5-5/6). SunTrust Robinson Humphrey Life Sciences Virtual Meeting Series, (5/5-5/7)
Industry Conferences: Dell Technologies World 2020 (5/4-5/7). Association for Research in Vision and Opthamology (ARVO) Annual Meeting (5/3-5/7)
Alexion Pharmaceuticals (ALXN) to buy Portola Pharmaceuticals (PTLA) for $18 share in cash.
Upgrades & Downgrades