Corporate Actions – This is typically one of the slowest weeks of the year.
IPOs on deck: None of note.
IPOs Filed: Peleton (PTON) after the close.
Secondaries on deck: of note.
Notes Priced: None of note.
Common Stock filings: KDP of note.
Mixed Shelf Offerings filed: KDP BBT of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
LCI +0.16, VEEV +0.06, HPE +0.05, HEI +0.05, ADSK +0.04, OOMA +0.02 of note.
PAHC (0.03), PSEC (0.02) of note.
News After The Close: (In time order after the close)
Gray Television (GTN) reaches deal with Fox (FOXA) to extend or renew service in 21 markets.
Lumber Liquidators (LL) had network security incident but did not disclose damage.
Stock Repurchase: EVC YJ.
Dividend Increase: KBAL of note.
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: LCI +30% DY +6% HPE +6%.
Gap Lower: PAHC -25% ADSK -12%.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
U.S. futures: S&P -9 Dow Jones -73 NDX -32 and Russell 2000 -5.60 with fair values lower adding to gains on the open. Asia mixed and Europe lower click through for details by country.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and flat vs Yen. US 10 year Treasury price is at $131.34 from $131 with yields at 1.458% from 1.518%. Prices as of 8:40 a.m. EDT.
Positive Sectors On Tuesday: Utilities at 0.0%.
Negative Sectors On Tuesday: Conglomerates, Consumer Goods, Healthcare and Financials.
One Month Winners: Conglomerates and Utilities.
Three Month Winners: Conglomerates, Consumer Goods, Utilities and Services.
Six Month Winners: Conglomerates,Consumer Goods. Technology and Utilities.
Twelve Month Winners: Utilities, Technology, Conglomerates and Services.
Year to Date: All higher except for Materials led by Conglomerates, Technology, Services and Industrials.
Hourly Action This Week:
Updated through Tuesday close.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: OKTA FIVE ESTC HRB WSM PVH OLLI NTNX VRNT SMTC BOX GEF ZUO GES YRD MTRX SCVL TLYS SPWH of note.
Thursday Before The Open: TD DG DKTR BBY BURL SAFM TECD HAIN PDCO SY ANF DBI MEI GMS MBUU TITN of note.
Earnings This Morning Of Note
DY +0.27, TIF +0.07, DAKT +0.06, EXPR +0.02 BF.B +0.02 of note.
CHS +0.00, COTY +0.00 of note.
MOV (0.13) of note.
Yet to Report: BF.B
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: 30 Year Bond back under 2.00%. (CNBC)
Five Things You Need To Know To Start Your Day (Bloomberg)
Five Things To Know Before The Market Opens Today. (CNBC)
British Prime Minister Boris Johnson wants to suspend Parliament ahead of Brexit. (Bloomberg)
Boeing (BA) CEO notes major order if trade deal with China. (Reuters)
Commerce Department has received 130 license application to sell to Huawei. (Reuters)
Deutsche Bank (DB) has tax returns of President Trump, his family and business. (NYT)
Google (GOOGL) to move Pixel smartphone production to Vietnam from China. (Nikkei Report)
Stocks saw a breakdown on Friday and have not been able to recover, yet.
Bold means a change from prior day.
The advance/decline line moved to cash on the close of 8/5. Updated through 8/27/19 close. Year to date model up 7.48% on the S&P 500. 3 buy signals and 3 cash signals in 2019. The recent buy lost -1.23%. Cash has worked here as we have missed the volatility and now we are close to a buy again but it faded for a second time.
Courtesy of Quantitative Partners, Inc.
YTD 57% (-2.61% week over week) of stocks are higher and 42.79% are lower. Updated 8/23/19 close with next update on 8/30/19 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. Update through Tuesday’s close.
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:
Weekly API Petroleum Data is due out at 4:30 p.m. EDT.
Weekly Mortgage Applications came in at -6.2% week over week from -0.9%.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
$41 billion of 5 Year Treasury Notes to be auctioned at 1:00 p.m. EDT.
President Trump will have lunch with the Secretary of the Interior and get his intelligence briefing. A quiet day.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: PS (analyst meeting) VMW (VMw World Conference)
Sellside Conferences: Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit & Conference. Commerzbank Sector Conference. Seaport Energy and Industrials Conference. Three Part Advisors Midwest Conference. Morgan Stanley TMT China Conference. DNB TMT Nordic Conference.
Industry Conferences: Farm Progress Show 2019. VMworld Conference.
Hershey Foods (HSY) to buy ONE Brands LLC for $397 million.
Pilgrim’s Pride to buy Tulip Limited for $354 million.
Upgrades & Downgrades:
Merrill reiterated on Energy stocks despite continued weakness. Tough call. Names HAL CJ PTEN HP SLB BHGE.