In After Hours Trading

IPOs on deck: IPOs will pick back up in the next couple weeks now that we are in 2019. Government shutdown may delay filings.

Secondaries on deck:  MRTX RVNC priced this morning.

IPO Filings After The Close:

Secondary Filings:    MRTX PARR common stock;  mixed shelf offering.  ACB convertible offering. 

Courtesy of IPO Financial

Earnings After The Close:

Beat: AA +.16 EGBN +.03 CSX +.02 PLXS +.01

Missed:FUL -.09 KMI -.04

Flat: HWC

Guidance Mixed:  

Positive Guidance For Upcoming Quarter: BDX

Negative Guidance For Upcoming Quarter: 

Dividend Increase: EPR OKE CNXM EQM AM FAST  WAFD 

News After The Close:

Jack Bogle the founder of Vanguard passed at the age of 89.

Apple (AAPL) puts new hires on hold with slowing iPhone sales.

Tribune Publishing (TPCO) tired to renew merger talks with Gannett (GCI) per The Wall Street Journal.

GameStop (GME) completes sale of Spring Mobile Division and will announce holiday sales tomorrow before open.

Spirit (SAVE) sees Q4 revenue per available seat mile up 11.4% year over year.

Glaxo Smith Kline (GSK) announces two positive Phase III studies with results published in The New England Journal of Medicine.

BAE Systems  (BAESY) reported $470 million Army contract but DoD does not confirm.

Hilton Grand Vacations (HGV) reaffirms 2018 guidance.

PG&E (PCG) downgraded by ratings agency as Chapter 11 pending.

Hourly Action This Past Week:

Stocks are continuing to remain positive this week on an hour by hour basis.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures Rising As Morning Advances

U.S. futures: S&P -9.75, Dow Jones -90,  NDX -17.50 and Russell 2000 -5.90  with fair values HIGHER ADDING TO LOSSES.  Asia lower. Europe lower.

Gold flat to down with silver lower and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 121.84 with yields lower since Wednesday morning with the yield at 2.72%. Prices as of 8:35 a.m. EDT.

Top Sectors Wednesday: Financials, Conglomerates and Services.

Weakest Sectors Wednesday: Consumer Goods and Healthcare.

One Month Winners: Financials, Industrials, Services and Conglomerates.

Three Month Winners: Utilities.

Six Month Winners: Utilities and Conglomerates.

Twelve Month Winners: Conglomerates and Utilities.

Year to Date: All higher.

Upcoming Earnings Of Note:

Today After The Close:  NFLX AXP TEAM JBHT  PBCT OZK CATY PRGS 

Friday Before The Open: SLB VFC STT STI RF CFG KSU FHN

Earnings This Morning Of Note:

Beat Estimates:  MTB +.30 SBNY +.13 WNS +.12 IIIN +.07 PPG +.05 TSM +.04 MTG +.03 SASR +.03 CBSH +.02 BBT +.01 PACW +.01 

Missed Estimates:  MS -.05 KEY -.02

Raised Guidance: SBNY WNS

Lowered Guidance: TSM 

Mixed Guidance: BBT

Rags & Mags:

Top Story: Huawei to be investigated for theft of trade secrets putting pressure on U.S. China relations. (Bloomberg)

Five Things You Need To Know To Start Your Day (Bloomberg) – Huawei probe, Brexit talks, Shutdown slows economy, Markets mixed, big earnings after the close.

January OPEC Report shows no change in world oil demand. (CNBC)

Morgan Stanley (MS) sees bond trading weak. (Bloomberg)

Microsoft (MSFT) to create Netflix of gaming. (Business Insider)

Data Points:

Yesterday saw 1818 stocks rise and 1006 fall on the NYSE. NASDAQ saw 2030 rise and 1023 fall.

The SP 500 remains below its 50 day simple moving average and its 200 day simple moving average. The Russell 2000 is still below its 50 day simple moving average and 200 day simple moving average. All three indexes are now above their 5, 10 and 20 day moving averages. All three indexes regained their 5 day moving average yesterday.

The QPI10 Day Moving Average of Breadth (10DMA) moved to buy last Monday at 2549.69. For a move to a buy from cash, the 10DMA needed to have two days in row above +200 which happened last Monday.

Courtesy of Quantitative Partners, Inc

YTD  86% of stocks are higher and 14% are lower. Updated 1/11/19 close with next update on 1/18/19 close. First tracking  of 2019.

Courtesy of Phil Erlanger Research, Inc.

Trading:

Monday saw the Dow Jones Industrial Average, S&P 500 and the Russell 2000 struggle for the first time in quite a while but rebounded the past two days.

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. 

Economic & Related:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

Philadelphia Fed Index due out at 8:30 a.m. EDT and is expected to rise to 10.5 from 9.4. Came in strong at 17.

Politico:

The government shutdown enters Day 27.

Federal Reserve Board of Governors member Randall Quarles speaks, time not provided.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: MNST (investor day), CSV (update) , TA (c call), DPZ (investor day), FC (investor day).

Sellside Conferences:  TS Securities Mining Conference.

Industry Conferences: North American International Auto Show.

M&A News & Rumors:

Heartland Financial (HTLF) to acquire Blue Valley Ban Corp (BVBC) for $14.87.

Glacier Bancorp (GBCI) to acquire FNB Bancorp.

WEX to acquire Discovery Benefits for $425 million.

Travel America (TA) to buy travel properties from HPT and ammend those leases for $140.5 million.

Archer Daniels (ADM) to acquire Gleadell Agriculture Ltd and Dunns Ltd, terms not disclosed.

Upgrades & Downgrades:

Best Upgrade Call of the Day: CBS upgraded by Moffet Nathanson who are the Ax im Media.

Worst Downgrade Call of the Day: None of note

Pre-Market Movers:

Gap Up and Downs Pre Market: Winners: TA +9%  CARS +8%  PCG +6% MTG +4% MTB +4%.   Losers: SIG -13% FUL -10% ACB -8% PLXS -5% MS -5%.