Corporate Actions

IPOs on deck:  3 IPOS on deck this week.

IPOs Filed: None filed after the close.

Secondaries: None of note.

Notes Priced:  None of note.

Common Stock filings:  AGEN PSXP of note.

Mixed Shelf Offerings filed: HLX COLL of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

None of note.

Missed:  

None of note.

News After The Close &  Over The Weekend

Ratings agency upgrades Greece as budget risks slow and capital controls are lifted.

Fitch affirms Netherlands and  AAA while Morningstar confirms France at AAA.

Ford (F) gets a ratings downgrade from major ratings agency.

General Motors (GM) and UAW ratify new collective bargaining agreement ending strike.

Microsoft (MSFT) wins $10 billion cloud contract with the Department of Defense  beats Amazon (AMZN).

Trump Administration may propose blacklisting companies in China that have stolen intellectual property.

Barron’s positive on UNH FDX BYD PENN AQUA REX STNG  MA PYPL V JWN .

Stock Repurchase:  AMG

Dividend Increase: FBP

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

Gap Higher: TIF +29% LPT +20% OSTK +12% CMCM +9% SPOT +6%.

Gap Lower: PCG -17% HSBC -4% PHG -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 +5 Dow Jones Industrial Average +66 NASDAQ +22 Russell 2000 +4.89  Fair values are modestly higher. Asia mixed and Europe lower.

Gold,silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $129.27 from $129.92 with yields at 1.78%. Prices as of 8:15 a.m. EDT.

Positive Sectors On Friday:  Basic Materials and Energy,Technology, Services and Industrial Goods of note.

Negative Sectors On Friday:  Utilities and Consumer Goods of note.

One Month Winners: Utilities, Consumer Goods and Technology.

Three Month Winners: Utilities, Industrials and Consumer Goods.

Six Month Winners: Utilities, Consumer Goods, Technology and Financials.

Twelve Month Winners: Utilities, Technology, Services, Consumer Goods and Financials.

Year to Date: Technology, Industrials, Consumer Goods, Services and Utilities.

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

Today After The Close:  GOOG TMUS WELL AVB NXPI SBAC WCN ARE AKAM VNO RE BRO CACC CGNX NOV XPO  of note.

Tuesday Before The Open:  MA MRK PFE BP SPGI COP ECL GM MMC HCA SHOP ETN IR CMI GLW K FMS INCY  MLM KKR WAT LDOS of note.

Earnings This Morning Of Note

Beat:

SPOT +0.65, OPB +0.23, CTB +0.09, AWI +0.08, LPT +0.05, CHKP +0.04, QSR +0.03, DO +0.03, WBA +0.02, AMG +0.02 of note.

Missed: 

CNA (0.65), L (0.44), DORM (0.19), ARLP (0.17), BOH (0.09), EPD (0.08), DTE (0.07), PHG (0.04), ON (0.03) of note.

Flat:

T of note.

Still to Report: AVX, HTLD, MCY.

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

Five Things You Need To Know To Start Your Day. (Bloomberg)

European Union delays Brexit vote to the end of January. (WSJ)

President Trump announces that ISIS Leader Abu Bakr al-Baghdadi is killed in a military raid in Syria.

YTD 62% (+2% change week over week) of stocks are higher and 38% are lower. Updated 10/25/19 close with next update on 11/1/19 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

None of note for today. For the week, Tuesday sees Case Schiller Home Price Index, Consumer Confidence and  Pending Home Sales. Wednesday sees ADP Employment Index, Q3 GDP and the Federal Reserve Rate Decision. Thursday we get Personal Income and Chicago PMI.  Friday we get Jobs Data and then ISM Manufacturing Index.

Geopolitical:

President Trump  heads to Chicago to speak to the International Association of Police Chiefs at 11:25 a.m. EDT.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:  NTNX (Tech Talk) ANTM (Conference Call) HOLI (Investor Day)

Sellside Conferences: Dawson James 5th Annual Small Cap Conference.

Industry Conferences: The American College of Gastroenterology Annual Meeting (10/25-10/30) Money 20/20 2019 (10/28-10/30) HLTH Conference (10/27-10/30).

 M&A Activity:

LVMH  makes a bid on Tiffany (TIF) for $120 in cash. Tiffany is expected to reject the bid.

Upgrades & Downgrades:

We will be back to full upgrades and downgrades tomorrow. However, we wanted to make note of the worst upgrade seen in quite some time. Deutsche Bank this morning upgrades Tiffany (TIF) to a buy after it is up $30 with a bid from LVMH. Are they using Friday’s closing price?