IPOs Priced: None of note.
Secondaries Priced: TLSA of note.
Notes Priced of note: None of note.
Common Stock filings: ETON IMTX BPMC TNAV of note.
Mixed Shelf Offerings: ADM ESRT TNP VBIV OTIS STC of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
BCC +0.39 of note.
None of note.
Hourly Tracking – Updated Through 7/31
News After The Close:
Over the weekend both Lord & Taylor and Tailored Brands declared bankruptcy.
Fitch reaffirms U.S. as AAA but takes outlook to negative from stable.
Facebook (FB) settles facial recognition lawsuit and agrees to pay $650 million.
Spirit Aerosystems (SPR) to reduce number of employees as 737 Max production remains slow.
Microsoft (MSFT) looks to buy TikTok after discussions with President Trump.
Dr. Birx on CNN noted the pandemic has entered a new phase. (CNN)
Barron’s + on GLD NEM GOLD AAPL AMZN FB GOOGL HOG
Raises Guidance Raised:
Cut Dividend: COF
Stock Split Announcement:
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +20 Dow Jones Industrial Average +133 NASDAQ +98 Russell 2000 +13.57. Fair values are lower. Asia mostly higher and Europe higher. VIX is at 26.50 this morning.
Gold lower, silver and copper higher. WTI Crude Oil lower and Brent Oil Futures flat. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at from $140.08 with yields at 0.566% from 0.543%.
Positive Sectors On Friday: Technology, Consumer Cyclical and Materials.
Negative Sectors On Friday: Energy, Financials and Industrials 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: ADT +52.5%, IMUX +43.6%, VAR +22.6%, INCY +6.5%, MPC +6%, TNP +5.6%, NIO +5.5%, CODX +5%, ETON +4.9%
Gap Down: TLSA -7%, HSBC -6.3%, TNAV -3.7%
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: SBAC KLAC AIG RNG WMB O TTWO INVH ESS STE IR NBIX EMN CHGG SEDG of note.
Tuesday Morning: FIS BP EMR EXC KKR WEC ZBH TDG INCY AME VMC EXPD LDOS MGP IT TECH of note.
Earnings This Morning Of Note
MCY +1.52, TKR +0.70, CLX +0.56, EME +0.53, TSN +0.50, MPC +0.43, CTB +0.42, MCK +0.38, LGND +0.24, NBL +0.12, GPN +0.11, MPLX +0.08 of note.
Flat: CNA +0.00
VAR (0.24), CLI (0.03) of note.
Still to Report:
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 7/31. Stocks faltered again on Friday.
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)
5 Things to Know Before The Market Opens On Monday. (CNBC)
Stocks Making The Biggest Moves (CNBC)
Corona Virus Update: Eli Lilly begins late stage trials and Russia plans mass vaccinations. (CNBC)
Democrats and Republicans remain far apart on a stimulus deal. (The Washington Post)
More actions coming against Chinese software companies as noted by Secretary of State Pompeo. (Bloomberg)
Covid-19 cases are flat to declining in 35 states with 15 states showing an increase. (NY Times)
Stock Index Trading
Current through 7/31 close. The Dow and the S&P 100 struggled a bit on Friday.
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 7/30 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.
June Construction Spending is due out at 10:00 a.m. EDT and are expected to rise by 1.3% higher than last month’s -2.1%.
July ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to rise to 53.4 from 52.6.
Geopolitical & Related
President Trump will meet with U.S. Tech Workers and signs an Executive Order on Hiring American at 11:30 a.m. EDT and then lunch with the Vice President.
Meetings, Calls & Conferences
(Update) F IIVI (Fireside Chat) NATI AZN (Investor Conference)
Sellside Conferences: None of note.
Industry Conferences: IBM Integration Technical Conference.
Siemens Healthineers to buy Varian Medical (VAR) for $177.50 a share.
Marathon Petroleum (MPC) to sell Speedway to 7-11 for $21 billion.
Upgrades & Downgrades – Monday Up & Down Recs