CAPIS Morning Note – 9/10/20 Stocks Are Volatile This Morning, Lower Now Higher
Covid-19 Update With Latest Data From Wednesday Total Cases 6,329,405 from 6,298,422 Recovered: 2,387,479 from 2,359,111 Deaths 182,779 from 181,690 Cases reported 30,983 from 22,219 Tests 584,412 from 508,706 Deaths 1,089 from 918 Hospitalizations 32,263 source COVID tracking project Capital Raises IPOs Filed: Secondaries Priced: FRC ALBO PRPL of note. Notes Priced of note: None of note. Common…
Covid-19 Update With Latest Data From Wednesday
Total Cases 6,329,405 from 6,298,422
Recovered: 2,387,479 from 2,359,111
Deaths 182,779 from 181,690
Cases reported 30,983 from 22,219
Tests 584,412 from 508,706
Deaths 1,089 from 918
source COVID tracking project
Secondaries Priced: FRC ALBO PRPL of note.
Notes Priced of note: None of note.
Common Stock filings: ITCI TRIL QTNT IIIV SPRO RPAY of note, Selling Shareholder PRPL ICE.
Mixed Shelf Offerings: None of note.
Convertible Offering Files: CSIQ RNG of note.
Senior Notes Filed: None of note.
Earnings After The Close:
RH +1.56, VRNT +0.37, AVAV +0.05, BIGC +0.05, NCNO +0.04, ZS +0.02 of note.
GME (0.26) of note.
Hourly Action – More hours are positive than negative despite the corrective action the last week.
News After The Close:
Marie Myers takes over as Acting CFO at Hewlett Packard (HPQ).
David Nord to step down s CEO of Hubbell (HUBB) and will be replaced by Gerben Bakker.
The Washington Post releases snippets from Rage by Bob Woodward and President Trump responds to questions about downplaying cornonvirus.
U.S. to end screening of incoming international passengers at U.S. airports.
Tiffany (TIF) sues LVMH over backing out of sale.
J.C. Penney (JCP) gets rescue deal and avoids liquidation thanks to Simon Property (SPG) and Brookfield Property Partners (BPY).
Raises Guidance: DGX
Stock Repurchase Announcement: CBTX
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +10 Dow Jones Industrial Average +68 NASDAQ +94 Russell 2000 -0.58 . Fair values are higher. Asia mixed and Europe lower. VIX October futures are at 33.40 from 38.44 this morning. Current VIX is at 28.81 from 30.75.
Gold higher, silver higher and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at$139.30 from $139.38 with yields at 0.703% from 0.679%.
Positive Sectors On Wednesday: Technology, Materials and Consumer Cyclical of note.
Negative Sectors On Wednesday: None of note.
One Month Winners: Industrials, Consumer Cyclical and Consumer Defensive of note.
Three Month Winners: Consumer Cyclical, Technology and Industrials of note.
Six Month Winners: Consumer Cyclical, Technology, Materials and Healthcare of note.
Twelve Month Winners: Technology, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: ORCL CHWY PTON ACB PLAY ZUMZ of note.
Friday Morning: KR of note.
SLQT +16%, RH +14%, INVA +11%, CBD +10%, AGX +10%, VRNT +9%, NCNO +8%
GME -15%, QTNT -11%, BIGC -7%, PRPL -6%, YUMC -5%, SRPT -4%, ITCI -4%, ZNH -4%, CSIQ -4%
Earnings This Morning Of Note
None of note.
None of note.
Erlanger Research Advance/Decline Line Chart – Many stocks were up yesterday on the dead cat bounce. Update 9/9.
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 9/9 close. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.
Courtesy of Phil Erlanger Research Inc.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves. (CNBC)
5 Things To Know Ahead of Today’s Trading. (CNBC)
Corona Virus Update: Scientists question Russia vaccine data, WHO says needs more vaccines. (CNBC)
California has seen 2.5 million acres burned. (NYT)
Senate Stimulus Bill get “nearly” universal Republican support but not the 60 votes to clear the Senate. (WSJ)
15,000 apartments are now empty in NYC. (CNBC)
Kansas City Southern (KSU) rejects $20 billion takeover. (WSJ)
Boeing (BA) to face ethics probe on lunar lander bid. (Reuters)
ECB thoughts ahead of Press Conference. (CNBC)
Stock Index Trading
Current through 9/9 close. The Russell and S&P 400 Mid Cap moved back above their 50 day moving averages.
Bold means a change from prior day.
Weekly API Petroleum Institute came out at 4:30 p.m. EDT and saw a build of three million barrels.
Weekly Jobless Claims are due out at 8:30 a.m. EDT. Result 884,000.
August PPI was out at 8:30 a.m. EDT and was expected to fall to 0.3% from 0.6%. Result 0.3%
The European Central Bank (ECB) held its latest meeting and no change happened. Press Conference at 8:30 a.m. EDT.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
Geopolitical & Related
President Trump will meet with the Secretary of State at 3:30 p.m. EDT and then heads to Michigan to deliver remarks in Freeland, MI.
U.S. Treasury to sell 30 Year Notes at 1:00 p.m. EDT.
Investor Events & Conference Calls
TMO LKQ (Investor Day) SNGX (Webcast) BPYU (Fireside Chat with Evercore)
Sellside Conferences: Barclays CEOEnergy Power Conference (9/8-9/10) Barclays Global Consumer Staples Conference (9/8-9/10) Citi Annual BioPharma Virtual Conference (9/8-9/10) Raymond James U.S. Bank Conference (9/9-9/10) Gateway Annual Conference (9/9-9/10) Baird Global Healthcare Conference (9/9-9/10) Scotiabank Financials Summit Conference (9/9-9/10) Wells Fargo Healthcare Conference (9/9-9/10) Goldman Sachs Annual Global Retail Conference (9/9-9/10) KBW Insurance Conference (9/9-9/10) Morgan Stanley Industrials CEO Unplugged Conference (9/9-9/11) Credit Suisse Global Steel & Mining Conference (9/9-9/11) Bank of America Media, Communications and Entertainment Conference (9/9-9/10) Deutsche Bank Airline One on One Day (9/10) Benchmark Annual Consumer/Media/Entertainment Conference (9/10)
Industry Conferences: Advanced Therapies Congress & Expo (9/8-9/11)
MaxLinear (MXL) buys NanoSemi for $10 million in cash and stock.
Upgrades & Downgrades For Wednesday 9/9 & Thursday 9/10 – Sorry, by accident we left off the recommendations for Wednesday. Love the upgrade of SYF as it hit on the Downside Risk Alert model from Revelation Research as a top decile name.