CAPIS Morning Note -9/27/19 Iran Says U.S. Offered To Remove All Sanctions, Oil Falls

Fun Fact – Winter is coming. Rockies to get first storm with 15 to 36 inches in Montana. (CNN) Breaking News – Iran says U.S. offered to remove all sanctions in exchange for talks. (CNBC) NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve conducted open market operations and took…

Fun Fact – Winter is coming. Rockies to get first storm with 15 to 36 inches in Montana. (CNN)

Breaking News – Iran says U.S. offered to remove all sanctions in exchange for talks. (CNBC)

NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve conducted open market operations and took $ billion.

Corporate Actions 

IPO News: Endeavor Group Holdings pulls its IPO in another hit to the IPO market after Peleton (PTON) IPO struggled yesterday.

IPOs on deck: None of note.

IPOs Filed:  None filed after the close.

Secondaries on deck:  AGNC CTRP GSL of note.

Notes Priced:  BGS BKH IBP LYB SBRA of note.

Common Stock filings:   KWR of note.

Mixed Shelf Offerings filed:  KDMN of note.  

Convertible Offering Files:None of note.

Senior Notes Filed:   None of note.

Courtesy of IPO Financial

Earnings After The Close: 


 MTN +0.34, MU +0.08, PRGS +0.07, CAMP +0.02  of note.


UEPS (2.36), JEF (0.17) of note

News After The Close: (In time order after the close)

Wyndham Destinations (WYND) sees $8-10 million EBITDA impact from Hurricane Doran.

In conference call, Micron (MU) notes that NAND supply sees some tightness.

Northrop Grumman (NOC) wins $1.4 billion Navy contract.

U.S. China trade talks to restart on October 10th-11th.

CACI International (CACI) wins $250 million Navy contract.

Boeing (BA) wins $280 million Air Force contract.

S&P 500 Change: Las Vegas Sands (LVS) to join. S&P 400 Change: Nektar Therapeutics (NKTR) to join.

DoorDash confirms security breach of 4.9 million customers.

American Water Works (AWK) win $448 million contract at Joint Base San Antonio.

The SEC concludes investigation as does Department of Justice into PPG Industries (PPG).

Stock Repurchase: LMT

Dividend Increase: LMT JOUT

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: LTM +47%, AVXL +6%, LVS +5%, PSNL +4%, MTN +4%

Gap Lower: PRGS -14%, GOL -12%, MU -6%, EGO -5%, CAMP -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 +8 Dow Jones Industrial Average +64 NASDAQ +6 Russell 2000 +8. Fair values are mixed. Asia mixed and Europe higher.

Gold and silver lower while copper higher. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $130.03 from$130.02 with yields at from 1.72%. Prices as of 8:45 a.m. EDT.

Positive Sectors On Thursday: Utilities, Consumer Goods and Conglomerates.

Negative Sectors On Thursday: Services, Healthcare and Financials.

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 Wednesday close.

Courtesy of Quantitative Partners, Inc.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close:None of note.

Monday Before The Open: CALM THO of note.

Earnings This Morning Of Note  


 None of note.


None of note.

Still to Report:

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Top Story: President Trump threatens person that gave Whistleblower information on president. (NYT)

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)

Saudi partial cease fire in Yemen is possible. (WSJ)

Democratic leaders see full impeachment proceedings by Thanksgiving. (The Washington Post)

National Security Council members noted that the Ukraine transcript was not placed into the NSC records system. (NYT)

Wells Fargo (WFC) names Charles Scharf CEO as of 10/21 as he leaves BNY Mellon. (CNBC)

BNY Mellon (BK) names Todd Gibbons Interim CEO as Scharf leaves for Wells Fargo.

Data Points

Stock indexes lose ground yesterday.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/26/19 close. Year to date model up 9.26% 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 but that is starting to struggle.

Courtesy of Quantitative Partners, Inc.

YTD  66% (-1% week over week) of stocks are higher and 34% are lower. Updated 9/20/19 close with next update on 9/27/19 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 Wednesday’s close.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA

Economic & Related:

August Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.4% from 0.1%.

August Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -1.0% from 2.0%.

September University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 92.1 from 92.


President Trump will have a quiet day after a busy week at the U.N. and dealing with impeachment proceedings.

Federal Reserve Vice Chairman for Supervision Randal Quarles will speak at 8:30 a.m. EDT.

Federal Reserve Philadelphia President Patrick Harker to speak at 12:00 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  (update) (analyst/investor day) ACRS (R&D Day)

Sellside Conferences: Wells Fargo Consumer Conference and Beauty Forum.

Industry Conferences:   Alzheimer Association International Conference (9/24-9/27). European Society for Medical Clinical Oncology (9/27-10/1)

M&A Activity:

Upgrades & Downgrades: