Capital Raises
IPOs Priced: Bentley Systems (BSY) priced at $22 a share above range of $17 to $19..
Secondaries Priced: NSA of note.
Notes Priced of note: None of note.
Common Stock filings: WVE NSA of note. Selling Shareholders of note: UMRX
Mixed Shelf Offerings: None of note.
Convertible Offering Files: ZGNX of note.
Senior Notes Filed: None of note.
Earnings After The Close:
Beats:
NKE +0.45, KBH +0.32, SCS +0.18 of note.
Misses:
SFIX (-0.27) of note.
Hourly Action– Weak early and strong late this week. Last week the opposite. Updated 9/22 close.
News After The Close:
3M (MMM) working to sell its food safety division for $3.5 billion. (Bloomberg)
Beazer Homes (BZH) raises new orders for first two months of Q4 up 37%.
KKR may bid for 1-800 Contacts at a price of $3 billion.
Sysco (SYY) wins $800 million Defense Logistics Agency contract.
Pinterest (PINS) sets record for downloads after iOS 14 release. (Tech Crunch)
House Speaker Pelosi and Treasury Secretary Mnuchin agree on government funding bill to keep government going through 12/11.
House passes Spending Bill 359-57.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +1 Dow Jones Industrial Average +128 NASDAQ -45 Russell 2000 +2.84. Fair values are lower. Asia higher Ex Japan and Europe higher. VIX October futures are at 31.25 from 31.06 this morning. Current VIX is at 26.86 from 27.55.
Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures mixed. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.52 unchanged with yields at -0.679% from 0.669%.
Positive Sectors On Tuesday: Consumer Cyclical, Communication Services and Technology of note.
Negative Sectors On Tuesday: Energy, Financials and Healthcare of note.
One Month Winners: Real Estate, Consumer Cyclical and Industrials of note.
Three Month Winners: Consumer Cyclicals, Materials and Technology of note.
Six Month Winners: Consumer Cyclical, Technology, Materials and Healthcare of note.
Twelve Month Winners: Technology, Consumer Cyclical and Healthcare of note.
Year to Date: Consumer Cyclical, Technology, Communication Services and Materials of note.
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: FUL CMTL of note.
Thursday Morning: ACN KMX FDS DRI JBL BB RAD of note.
Gap Up: ACET +26%, MNOV +21%, NKE +13%, ATHX +12%, CNTG +7%, JKS +5%, UAA +4%, FL +4%
Gap Down: WVE -27%, ACB -16%, SFIX -14%, GMAB -13%, ZGNX -7%, TLRY -4%
Earnings This Morning Of Note
Beat:
JKS +0.45, GIS +0.18 of note.
Missed:
WOR (0.53) of note.
Still to Report: CTAS
Erlanger Research Advance/Decline Line Table– Is the current low in place? 9/22 close.
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 9/22 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: FDA to tighten vaccine standards; Sweden high death rate may be tied to mild flu season.(CNBC)
Johnson & Johnson (JNJ) enters late stage trial testing for Covid-19 vaccine. (CNBC)
Shopify (SHOP) notes that a “rogue” employee stole some customer data. (Endgadget)
United (UAL) to tap Treasury for loans. (Reuters)
