CAPIS Morning Note – 8/4/20 Stocks Lower As China & U.S. Clash Grows
Covid-19 Update Cases reported 49,561 Tests 731,690 Positivity Rate 6.77% Deaths 519 53,289 hospitalizations Mortality Rate 3.15% source COVID tracking project IPOs Priced: None of note. Secondaries Priced: None of note. Notes Priced of note: None of note. Common Stock filings: ACHV KNSL VCYT SITE IMUX SPCE VRNS MIME BMCH TPB AMK ARYO of note. Mixed Shelf Offerings:…
Cases reported 49,561
Positivity Rate 6.77%
Mortality Rate 3.15%
source COVID tracking project
IPOs Priced: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: ACHV KNSL VCYT SITE IMUX SPCE VRNS MIME BMCH TPB AMK ARYO of note.
Mixed Shelf Offerings: BA NTRS ICHR TPB of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
THC +1.97, DLB +0.59, NSP +0.45, SBAC +0.45, SYKE +0.42, NBIX +0.40, BMCH +0.35, WTS +0.35, STE +0.33, DOOR +0.32, KLAC +0.31, HLIO +0.28, RBC +0.28, SEDG +0.26, UGI +0.24, CRUS +0.23, CWST +0.23, ITRI +0.23, KMPR +0.23, VRNS +0.20, TREX +0.16, BRKR +0.16, PLOW +0.15, BWXT +0.15, TXRH +0.14, AIG +0.13, FANG +0.12, MOS +0.12, FBM +0.11, IR +0.11, ICHR +0.10, OTTR +0.10, PEN +0.09, LEG +0.09, HLIT +0.07, RRC +0.07, FIVN +0.06, FRPT +0.06, MIME +0.06, CHGG +0.05, O +0.04, VVV +0.04, VECO +0.04, RNG +0.04, CW +0.03, VNOM +0.03, KMT +0.03, BKH +0.01, INVH +0.01, WMB +0.01 of note.
Flat: AWR +0.00, BRX +0.00, NCMI +0.00, NEX +0.00
HHC (0.53), VNO (0.43), TTWO (0.41), H (0.39), RMBS (0.34), EMN (0.19), REG (0.17), ESS (0.15), CLR (0.09), AIV (0.07), SPCE (0.04) of note.
Hourly Tracking – Updated Through 8/3
News After The Close:
13 members of the St. Louis Cardinals tested positive for Covid-19. Team to resume schedule on Friday.
FAA proposed Boeing (BA) 737 Max design changes per Reuters.
Treasury Secretary Mnuchin reports “a little bit” closer to a stimulus deal.
Avnet (AVT) CEO William Amelio steps down as CEO. Phil Gallagher named interim CEO.
Raises Guidance Raised: ICHR KLAC SBAC CHGG FIVN TTWO BRKR FRPT RNG UGI AVT OTTR
Raises Dividend: CHCT
Stock Split Announcement: TREX (2:1) AAPL (we forgot to announce this last Friday, 4:1)
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -12 Dow Jones Industrial Average -58 NASDAQ -36 Russell 2000 -2.6. Fair values are lower. Asia higher and Europe lower. VIX is at from 26.75 this morning.
Gold higher, 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 $140.11 with yields at 0.526% from 0.566%.
Positive Sectors On Monday: Technology, Healthcare and Industrials.
Negative Sectors On Monday: Real Estate and Utilities 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.
OPCH +25%, AVT +15%, HLIT +11%, MOS +9%, TLSA +8%, BP +7%, SEDG +7%, VRNS +6%, TXRH +6%, SPNS +6%, TTWO +6%, BRX +5%, EXPI +5%, AMRC +4%, IR +4%, FRPT +4%, OTTR +4%
DBVT -32%, VYGR -12%, IMUX -11%, SPCE -8%, KBAL -7%, KRTX -6%, VNOM -6%, THC -6%, SITE -5%, KMT -5%, EMN -5%, VCYT -5%, ACHV -4%, VVV -4%, RMBS -4%, CAMP -4%, TREX -4%
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: DIS ATVI MNST TWLO VRSK ALL MTCH MCHP PRU BMRN ANET PAYC PXD FOXA PEAK FMC EXR QGEN AVLR PPD of note.
Tuesday Morning: CVS REGN HUM HMC SRE TRI MRNA W ABC BIP CDW EVRG TEVA HZNP ATHM DISCA CRL ARES NI VST IONS BWA of note.
Earnings This Morning Of Note
AMCX +1.23, ZBH +0.74, LCII +0.66, TDG +0.64, MNK +0.55, BLD +0.54, LGIH +0.52, LDOS +0.46, LEA +0.40, IT +0.39, INCY +0.37, PRIM +0.36, HEES +0.33, WRK +0.32, TREE +0.31, JELD +0.27, TECH +0.24, AVNS +0.23, VMC +0.21, EMR +0.21, ATKR +0.19, IPHI +0.19, CNK +0.18, THRM +0.16, CYBR +0.15, AQUA +0.12, HSIC +0.12, LPX +0.12, AMRN +0.11, IAA +0.11, AME +0.11, VSH +0.10, USFD +0.10, ATI +0.08, ACM +0.07, WEC +0.07, REZI +0.06, WBT +0.06, FIS +0.06, HAE +0.05, SPNS +0.05, OPCH +0.05, KKR +0.04, ESI +0.04, IGT +0.02, ARCC +0.01 of note.
Flat: DEA +0.00
BP (1.68), SPR (1.00), WMG (0.99), CEQP (0.59), INGR (0.25), EPC (0.17), HLNE (0.15), ETRN (0.12), USCR (0.09), XENT (0.09), NS (0.07), FI (0.04), RCM (0.03), ARMK (0.01) of note.
Still to Report: EXC, EXPD, IPGP, MGP, NVMI, RL, RHP, SHO
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 8/3. Stocks saw improvement on Monday.
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 Tuesday. (CNBC)
Stocks Making The Biggest Moves (CNBC)
Corona Virus Update: Regeneron (REGN) sees positive results, WHO looks at origins of virus in China. (CNBC)
President Trump consider executive orders to stop evictions and lower payroll taxes. (The Washington Post)
China calls U.S. a rogue state for the “smash and grab” on TikTok. (CNBC)
Hurricane Isaias will move up the Atlantic Coast today. (The Weather Channel)
Twitter (TWTR) may be fined $150 million by FTC over privacy violations. (WSJ)
Chinese are not accepting sale of TikTok and could take action. (Bloomberg)
White House Trade Advisor Peter Navarro calls for Microsoft to divest its China operations. (CNN)
Stock Index Trading
Current through 8/3 close. Yesterday took all indexes above all their moving averages.
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 8/3 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 Factory Orders are due out at 10:00 a.m. EDT and is expected to come in at 5.2% down from 8% in May.
API Petroleum Institute Data will be released at 4:30 p.m. EDT.
Geopolitical & Related
President Trump will participate in a signing ceremony for H.R. 1957 – The Great American Outdoors Act at 10:30 a.m. EDT. Then the president will lunch with the Secretary of State Mike Pompeo. Last at 2:00 p.m. EDT the president will receive his intelligence briefing.
Meetings, Calls & Conferences
KSU (Webcast) NATI AZN (Investor Conference)
Sellside Conferences: William Blair Biotech Focus Conference (8/4-8/6)
Industry Conferences: IBM Integration Technical Conference (8/3-8/6). SNN Network Virtual Investor Conference (8/3-8/6)
Upgrades & Downgrades – Tuesday Up & Down Recs