IPOs Priced: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: KNSA OPCH QIWI of note.
Mixed Shelf Offerings: None of note.
Convertible Offering Files: TREE of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
BXS +0.26, CDNS +0.14, IBM +0.09, CCK +0.04, LLNW +0.04, LOGI +0.04, STLD +0.04, ELS +0.03, ACC +0.01 of note.
ZION (0.10) of note.
Hourly Action This Past Week: Updated 7/17 Close
News After The Close:
Genworth (GNW) settles dispute with AXA to pay $125 million by July 23rd.
Ulta Beauty (ULTA) updates guidance and will reduce store openings and close limited number of stores.
RTI Surgical (RTIX) closes sale of its OEM business and will change name to Surgalign Holdings (SRGA) as of 7/23.
Novavax (NVAX) to give update on its Covid-19 vaccine candidate at the Vaccines Virtual Congress at 9:55 a.m. EDT.
Lockheed Martin (LMT) wins $860 million Navy contract.
Top Democrats release letter to FBI noting the U.S. Congress is a target of foreign disinformation campaign.
BAE Systems (BAESY) wins $495 million Air Force contract.
Index Changes: Emergent Bio Solutions (EBS) to join S&P 400 Mid Cap and First Hawaiian (FHB) to join S&P 600 on 7/24.
Credit agency takes outlook on Cheniere Energy (LNG) and Cheniere Energy Partners (CQP).
eBay (EBAY) sells its Classifieds Group to Adevinta for $9.2 billion in cash and stock deal.
Raises Guidance Raised: LLNW CTSO CCK
Raises Dividend: CWH
Stock Split Announcement:
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 +23 Dow Jones Industrial Average +226 NASDAQ +71 Russell 2000 +21.65. Fair values are mixed. Asia and Europe higher. VIX is at 24.12 from 25.90 from yesterday morning.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139.36 from $139.47 with yields at 0.602%.
Positive Sectors On Monday: Consumer Cyclical, Technology and Communication Services of note.
Negative Sectors On Monday: Real Estate, Utilities and Energy of note.
One Month Winners: Materials, Consumer Cyclical and Technology of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology,Consumer Cyclical and Healthcare 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: NBEV +82%, HIBB +22%, OPK +17%, FHB +9%, RTIX +8%, SBNY +6%, DKS +6%, IBM +5%, NUVA +5%, NVAX +5%, SYNA +5%, SYF +5%, GPK +4%, CDNS +4%, UBS +4%
Gap Down: CTSO -14%, PIRS -11%, ACAD -10%, KNSA -7%, OPCH -5%
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: TXN ISRG CNI SNAP COF IBKR TER AGR WRB FNF UAL CSL REXR PNFP WTFC IRBT HCSG SUM USNA of note.
Wednesday Before The Open: TMO ABB BIIB CP HCA APH IQV NDAQ RCI MKTX CHKP NTRS BKR DOV WIX NVR TDY OMC KEY KNX LAD of note.
Earnings This Morning Of Note
CMA +0.58, MUSA +0.57, PM +0.19, SNV +0.17, CIT +0.10, LMT +0.09, GPK +0.07, NVS +0.05, KO +0.01 of note.
OGI (0.47), CBSH (0.20), SYF (0.14), SBNY (0.05) of note.
Still to Report: GATX, NEOG, PLD, SFNC
Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 7/20. Stocks struggled yesterday but you would not know it if you looked at the S&P 500. Notice the Russell 2000 lags and was down.
Courtesy of Phil Erlanger Research Inc.
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: Quest will not be able to meet testing demand in the fall.(CNBC)
EU reaches $2 trillion stimulus plan. (CNBC)
No Coronavirus Relief Bill (Part IV) until August says top Republicans. (CNBC)
Amazon (AMZN) postpones next Prime Day. (CNBC)
Stock Index Tracking – The S&P 400 Mid Cap is struggling at its 200 day moving average, watch this closely.
Current through 7/20 close.
Bold means a change from prior day.
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 7/20 close. EVL Ranges continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO).
Courtesy of Phil Erlanger Research, Inc.
API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Geopolitical & Related
President Trump will sign a Memorandum at 12:15 p.m. EDT and then a press conference at 5:00 p.m. EDT which is a restart of Coronavirus Task Force Pressers.
Senate Judiciary Committee to vote on the nomination of Judy Shelton & Christopher Waller for the Federal Reserve Board today at 14:00 ET.
Meetings, Calls & Conferences
PBR SCHW (Update) BC (Virtual Boat Show) NBEV (Conference Call) HIBB (Sales Outlook) NTNX (Tech Tak) HPE (Webcast With Morgan Stanley)
Sellside Conferences: SEMICON West 2020 (7/20-7/23)
Synaptics (SYNA) to buy DisplayLink for $305 million in all cash deal.
New Age Beverages (NBEV) to buy ARIIX along with another four companies in e-commerce and direct selling.
DXC Technology (DXC) to sell healthcare software provider business to Dedalus Group for $525 million.
Upgrades & Downgrades –
Updated Through 8:45 a.m. EDT.