CAPIS Morning Note -9/16/19 Brent Oil Spikes The Most Ever, +10%
Corporate Actions IPO News: Chinos Holdings files for IPO, will be renamed Madewell Group. IPOs on deck: Six IPOs of note due this week including Datadog (DDOG) and Ping Identity Holding (PING). IPOs Filed: None filed after the close. Secondaries on deck: None of note. Notes Priced: REXR of note. Common Stock filings: None of note. Mixed…
IPO News: Chinos Holdings files for IPO, will be renamed Madewell Group.
IPOs on deck: Six IPOs of note due this week including Datadog (DDOG) and Ping Identity Holding (PING).
IPOs Filed: None filed after the close.
Secondaries on deck: None of note.
Notes Priced: REXR of note.
Common Stock filings: None of note.
Mixed Shelf Offerings filed: CTLT KDMN of note.
Convertible Offering Files: None of note.
Senior Notes Filed: PFGC of note.
Earnings After The Close:
None of note.
None of note
News After The Close: (In time order after the close)
Viper Energy Partners (VNOM) to buy certain mineral and royalty interest from Santa Elena Minerals for $150 million.
Portugal sees its rating upgraded to Positive from major rating agency.
Raytheon (RTN) wins $427 million Army contract.
Disney (DIS) President Bob Iger resigns from the Apple (AAPL) Board of Directors.
Drones hit Saudi oil installations on Saturday.
President Trump authorizes use of the Strategic Petroleum Reserve (SPR).
Early Morning Gap Up/Down: (>4% or <-4%)
ALDR +80%, DNR +39%, YUMA +33%, WLL +17%, CHK +16%, NBR +16%, SWN +13%, VAL +13%, RRC +13%, BTE +12%, MRO +11%, AR +11%, RIG +10%, DVN +10%, PTEN +10%, ECA +9%, NBL +9%, CXO +9%, MDR +8%, PXD +8%, APA +8%, HES +7%, COP +7%, CNQ +7%, NOV +6%, SLB +6%, OXY +5%, HAL +5%, GFI +5%, HMY +4%, BP +4%, SBGL +4%.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -11 Dow Jones Industrial Average -94 NASDAQ -53 Russell 2000 -3. Fair values are higher except for the Russell 2000. Asia mixed. Europe mostly lower.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.09 from $129.42 with yields at 1.833% from 1.78% which hit a high on Friday of 1.90%. Prices as of 8:45 a.m. EDT.
Positive Sectors On Friday: Materials, Financials and Industrials.
Negative Sectors On Friday: Consumer Goods, Conglomerates and Utilities.
One Month Winners: Industrials, Consumer Goods, Services and Financials.
Three Month Winners: Conglomerates, Consumer Goods, Technology, Services and Utilities.
Six Month Winners: Consumer Goods, Industrials, Conglomerates and Services.
Twelve Month Winners: Utilities, Technology, Consumer Goods and Conglomerates.
Year to Date: Conglomerates, Technology, Services, Consumer Goods and Industrials.
Hourly Action This Week:
Updated through Friday close.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Tuesday Before The Open: CBRL APOG of note.
Earnings This Morning Of Note
HHR +0.21 of note.
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Wall Street Journal Main Headline: Iran Denies Carrying Out Saudi Attacks
Top Story of the Day: Brent Crude Oil spikes the most ever, 10%. (CNBC)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know Before The Market Opens Today. (CNBC)
Stocks on the move. (CNBC)
WTO authorizes U.S. to impose tariffs from EU on Airbus (EADSY) subsidies.
General Motors (GM) striked at midnight as United Auto Workers work stoppage the largest in over a decade. (WSJ)
Drone attacks in Saudi Arabia wipe out 5% of global supply. (CNBC)
Houthi rebels, Yeman, backed by Iran say they will continue to attack oil installations in Saudi Arabia. (Bloomberg)
Purdue Pharmaceutical file for bankruptcy. (CNBC)
Facebook (FB) is meeting with the Federal Reserve and other central banks regarding its currency, Libra. (CNBC)
Stock indexes are in good shape.
Bold means a change from prior day.
The advance/decline line moved to a buy on the close of 8/29. Updated through 9/13/19 close. Year to date model up 10.27% on the S&P 500. 4 buy signals and 3 cash signals in 2019. Cash has worked in August as we missed the volatility and now we are back to a buy.
Courtesy of Quantitative Partners, Inc.
YTD 61.26% (+1.59% week over week) of stocks are higher and 38.33% are lower. Updated 9/9/19 close with next update on 9/13/19 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 Friday’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:
September Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 5.5 from 4.8
President Trump will credential newly appointed Ambassadors. Later he meets with the Crown Prince of Bahrain. Then heads to a rally in New Mexico.
The Reserve Bank of Australia (RBA) is out with its latest minutes at 9:30 p.m. EDT.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: ARAY VAR ICAD RHHBY (investor day) PSTI (conference call)
Sellside Conferences:Denver Gold Forum. Grocery Shop 2019.
Alder Pharmaceutical (ALDR) to be bought for $18 a share in cash and CVR by H. Lundbeck.
Winnebago (WGO) to buy Newmar Corporation for $344 million.
Upgrades & Downgrades: Uber and Lyft get upgrades this morning near all time lows.