IPOs on deck: None of note.

IPOs Filed: None of note.

Secondaries Priced: PLMR EDIT TMUS  of note.

Notes Priced of note: None of note.

Common Stock filings: TELA PLMR EDIT of note.

Mixed Shelf Offerings: PLMR FFWM INTU   of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

LZB +0.29, AVAV +0.06 of note.

Misses: 

None of note.

Hourly Action This Past Week: Updated 6/19 Close

News After The Close (In Order)

Mattel (MAT) names Anthony DiSilvestro as next CFO.

Dell (DELL) is exploring options in its stake in VMware (VMW).

The NASDAQ advanced for its eighth straight session.

Department of Justice and several State Attorney Generals to meet on Friday to discuss Alphabet (GOOGL) and ongoing Antitrust probe.

Carnival Cruise Lines (CCL) downgraded by ratings agency.

Raises Guidance: YNDX

Lowers Guidance: REGI

Dividend Cut or Suspended: WMC 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.

S&P 500 -21Dow Jones Industrial Average -226  NASDAQ -24 Russell 2000 -8.94. Fair values are lower.  Asia mixed and Europe markedly lower.

Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $138.59 from $138.56 with yields at 0.723%.

Positive Sectors On Tuesday: Consumer Cyclical, Materials and Fnancials of note.

Negative Sectors On Tuesday: Utilities of note.

One Month Winners: Real Estate, Industrials, Financials and Consumer Cyclical 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.

Gap Up: DELL +16.4%, MNOV +14.7%, KMDA +12.3%, VMW +9.1%, AVAV +4%,

Gap Down: REGI -9%, TELA -7.7%, WMC -5.8%, EDIT -5.5%, CCL -4.8%, 

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

Today After The Close: HTHT WUBA KBH FIZZ BB FUL of note.

Thursday Before The Open: ACN MKC FDS DRI WOR FLR MEI EPAC GMS RAD of note.

Earnings This Morning Of Note

Beat:

PDCO +0.26, WGO +0.11 of note.

Missed:

None of note.

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: India cases spike and U.S. travelers could be barred from European Union. (CNBC)

U.S. Coronavirus Map.

Coronavirus cases continue to spiral in California, Texas and Arizona. (CNN)

7 Day average of Covid-19 cases rises 30%. (CNBC)

U.S. Trade Representative notes that U.S. could hit EU with $3.1 billion in tariffs.

White House National Security Adviser Robert O’Brien will criticize China in speech today. (Axios)

Rep. Alexandria Ocasio-Cortez and other progressives did well in New York winning primaries. (NY Daily News)

Two Justice Department prosecutors will testify before the House Judiciary Committee against Attorney General William Barr and his actions. (CNN)

MLB to start a 60 game season on July 23rd. (CNN)

Ben & Jerry’s joins Facebook (FB) ban. Careful if long Facebook as trend is gaining steam. (CNBC)

Stock Index Tracking

Current through 6/23 close.

Bold means a change from prior day.

The advance/decline line model is now a BUY and that did not change after yesterday’s close as the 10 DMA did not stay below -200. We need two days below -200 for a change. Updated through 6/23 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 7.96% with the S&P 500 lower by -3.49% through 6/22. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal is up 2.71% through 6/22.

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 6/23 close. EVL Ranges  continues to expand again with the recent action.

Courtesy of Phil Erlanger Research, Inc.

Economic

MBA Mortgage Applications fell -8.7% week over week.

Weekly Crude Oil Inventories are due out at 8:30 a.m. EDT.

The latest NYSE and NASDAQ Short Interest Data is due out after the close and the collect period runs from May 27 through June 11th and the S&P 500 fell -1.12%.

Geopolitical & Related

President Trump will meet with the President of Poland starting at 2:15 p.m. EDT.

Meetings, Calls & Conferences

Sellside Conferences: Bank of America Merrill Lynch Napa Biopharma Conference (6/22-6/24).  Goldman Sachs Healthcare Corporate Day (6/22-6/24). J.P. Morgan China Conference (6/22-6/24). Credit Suisse Biotech Conference (6/22-6/24). Jefferies Consumer Conference (6/23-6/24).  Three Part Advisors East Coast IDEAS Investor Conference (6/23-6/24).

Industry Conferences: Apple Worldwide Developer Conference (6/22-6/26). American Association for Cancer Research Annual Meeting II (6/22-6/24).

M&A

Upgrades & Downgrades

Updated Through 8:25 a.m. EDT.