Corporate Actions

IPOs on deck for This Week:  A busy week for IPOs with 8 on deck. Several may trade well above their pricing.

IPOs on deck for Today: 

Secondaries on deck:   

Notes Priced:  

Common Stock filings: HCR

Mixed Shelf Offerings filed: HCR BCS

Convertible Offerings filed: None of note.

Senior Notes Files: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:None of note.

Flat: None of note.

Missed:  None of note.

News After The Close:

Boeing (BA) wins a $6.5 billion Air Force contract.

Moody’s downgrades the debt of Turkey to B1.

Stock Repurchase:  TC

Dividend Increase: SCVL MATX

Dividend Decrease: 

What’s Happening This Morning: 

U.S. futures: S&P +2, Dow Jones +15, NDX +12  and Russell 2000 +1.30 with fair values LOWER ADDING TO GAINS. Asia lower ex Hong Kong and Europe mixed, click through for details by country.

Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price $127.14 from $127.55 with yields higher since Friday morning with the yield at 2.108% from 2.077%. Prices as of 8:25 a.m. EDT.

Top Sectors Friday:  Utilities and Conglomerates.

Weakest Sectors Friday:  Technology, Materials and Healthcare.

One Month Winners: Utilities and Healthcare.

Three Month Winners:  Consumer Goods, Conglomerates, Services and Financials.

Six Month Winners: Industrials, Technology, Conglomerates and Services.

Twelve Month Winners: Utilities, Healthcare and Services.

Year to Date: All higher led by Conglomerates, Services, Industrials, Technology and Consumer Goods.

Hourly Action This  Week:

Last week  1 hour  positive and 6 were negative. A struggle.

Courtesy of Quantitative Partners, Inc.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close:  None of note.

Tuesday Before The Open:  None of note.

Earnings This Morning Of Note 

Beat: None of note.

Flat: None of note.

Missed: None of note.  

Rags & Mags:Highlighted Stories may be clicked through to the original story.

Top News Story Of The  Day: Hong Kong saw massive protests over the weekend. Today is more calm. (CNN)

Five Things You Need To Know To Start Your Day  (Bloomberg)

Federal Reserve is likely to drop the word patient this week. (CNBC)

South America power outages continue as the U.S. increases its cyber terrorism efforts against Russia. (NYT)

Iran threatens to increase its uranium stockpile. (The Washington Post)

Commerce Secretary Wilbur Ross says President Trump  will put the final tariffs on China if no deal reached. (CNBC)

Boeing (BA) admits error in cockpit warning light on the 737 Max. (NYT)

Data Points

NASDAQ 100 back below its 5 day moving average.

Bold means a change from prior day.

The advance/decline line has improved dramatically and moved to a buy yesterday.

The QPI10 Day Moving Average of Breadth (10DMA) is no longer in cash and moves to invested this morning. For a move to cash from buy, the 10DMA needed to have two days in row above +200.

Courtesy of Quantitative Partners, Inc.

YTD  70% (+6% week over week) of stocks are higher and 30% are lower. Updated 6/7/19 close with next update on 6/14/19 close.

Courtesy of Phil Erlanger Research, Inc.

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. A mixed week.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS CS:ERLA

Economic & Related:

June Empire State Manufacturing is due out at 8:30 a.m. EDT and last month came in at 10.1. Came in at -8.6.

June NAHB Housing Market Index is due out at 10:00 a.m. EDT and last month came in at 66.

Geopolitical:

President Trump has a quiet day with only lunch scheduled with the vice president. 

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call:  RGSE VBIV INCY (conference call)   UTX/RTN( Paris Air Show)

Sellside Conferences:  Roth Capital Partners Annual London Conference, Jefferies Global Consumer Conference.

Industry Conferences:  International Paris Auto Show. World Congress on Parkinson’s Disease and Related Disorders.

M&A Activity

Pfizer (PFE) to buy Array Biopharma (ARRY) for $48 in cash, $11.4 billion.

W.R. Grace (GRA) to buy Rive Technology, no terms.

Stifel (SF) to buy the capital markets unit of GMP Capital.

Upgrades & Downgrades

Early Morning Gap Up/Down:

Gap Higher: ARRY +60%, CALA +16%, MOS +4%, ANF +3%.

Gap Lower:  CYAD -21%, FLKS -17%.