IPOs on deck:
IPOs Filed: None of note.
Secondaries Priced: VICR CNNE CDNA CCX AEL BILL NIO of note.
Notes Priced of note: REAL COUP of note.
Common Stock filings: MBIO CTLT CCXI CNNE ROAD BV MCF OKE (selling shareholders) of note.
Mixed Shelf Offerings: STAR PACB BPY of note.
Convertible Offering Files: ZEN of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
None of note.
OXM (0.85) of note.
Gap Up: SRNE +17%, ZYXI +9%, GRUB +7%, JACK +4%
Gap Down: MBIO -26%, HTZ -18%, SRT -12%, CIM -11%, ROAD -10%, OXM -7%, NIO -5%, F -5%, NLY -4%, UBER -4%
Hourly Action This Past Week: Updated 6/10 Close
News After The Close (In Order)
Zendesk (ZEN) COO John Keiser to leave at the end of June.
American Financial (AFG) CFO Joseph Consolino resigns as of Friday.
General Dynamics (GD) wins $2.48 billion Army contract.
Lockheed Martin (LMT) wins $1.04 billion Army contract.
NASCAR bans the Confederate Flag at all races.
Amazon (AMZN) delays one year use of facial recognition software by police.
S&P 600 adds ZYXI as of 6/16.
Raises Guidance: NLY
Dividend Increase: TGT
Dividend Cut: NLY CIM DX
Share Repurchase Announcement: CBOE
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -77 Dow Jones Industrial Average -793 NASDAQ -164 Russell 2000 -62. Fair values are lower ex the Russell 2000. Asia and Europe lower.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.75 from $137.94 with yields at 0.695% from .805%.
Positive Sectors On Wednesday: Technology, Healthcare and Communication Services of note.
Negative Sectors On Wednesday: Energy, Real Estate and Financials of note.
One Month Winners: Industrials, Materials and Financials of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology, Healthcare and Consumer Cyclical of note.
Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: ADBE LULU WUBA PVH PLAY of note.
Friday Before The Open: None of note.
Earnings This Morning Of Note
PLCE +0.30 of note.
None of note.
Still to Report: JWA
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: WHO warns on Africa and Regeneron (REGN) test therapy.
U.S. Coronavirus Map.
Coronavirus cases rising Indonesia. (The Washington Post)
Texas and California seeing a second wave of Covid-19 with hospitalizations rising. (Fortune)
China wants to resume trade talks. (Reuters)
Chinese auto sales now higher by 14.5% year over year. (Reuters)
Europe looks to restart travel in July. (Bloomberg)
Bristol Myers (BMY) gets FDA approval for Opdivo for treatment of esophagel squamous cell carcinoma. (Business Wire)
Dollar Tree (DLTR) to pay hourly workers a $2 per hour bonus for hours worked betwee 3/8 and 6/13. (Market Watch)
Disneyland owned by Walt Disney (DIS) looks to reopen 7/17. (LA Times)
Zoom (ZM) shuts down U.S. human rights organization account over meeting on Tiananmen Square commeration. (CNBC)
EPA orders Amazon (AMZN) and eBay(EBAY) to stop sales of unproven Covid-19 products. (Bloomberg)
Stock Index Tracking
Current through 6/10 close. There are some break with yesterday’s action and more likely today.
Bold means a change from prior day.
The advance/decline line model is now a BUY. Updated through 6/9 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 10.90% with the S&P 500 lower by -0.73% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%. The current buy signal is up 5.65% through Tuesday.
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 6/10 close. EVL Ranges will start to expand again with the recent action.
Courtesy of Phil Erlanger Research, Inc.
Economic & Related:
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
May PPI is due out at 8:30 a.m. EDT and is expected to rise to 0% from -0.3%.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
$19 billion 30 Year Bond Reopening Auction at 1:00 p.m. EDT.
Geopolitical & Related
President Trump will head to Dallas, Texas to participate in an event at Gateway Church that starts at 4:00 p.m. EDT. Later he holds a fundraiser at 6:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: SNAP (Investor/Analyst Meeting) CYDY DELL VOYA (Conference Call) TSKFF (Update).
Sellside Conferences: Bank of America Merrill Lynch Innovative China Virtual Conference 2020 (6/8-6/12). William Blair Annual Growth Conference. (6/9-6/11). Goldman Sachs Annual Healthcare Conference (6/9-6/11). Deutsche Bank Global Auto Industry Conference (6/10-6/11). Goldman Sachs European Financials Conference (6/10-6/11). Tudor, Pickering, Holt Hotter N’Hell Energy Conference (6/11).
Industry Conferences: None of note. BIO International Digital Convention. (6/8-6/12).
Just Eat Takeaway.com to buy GrubHub (GRUB) for $75.15 a share.
Upgrades & Downgrades: None of note this morning.
updated through 8:30 a.m. EDT