In After Hours Trading

IPOs on deck This Week:  Two new IPOS on deck for this week include Kaleido Biosciences and Super League Gaming. 

IPOs on deck for Today: none of note.

Secondaries on deck:  none of note. 

IPO Filings Announced After The Close:  No common stock offerings filed today.  Potential for Lyft to file this week.

Announcements For Secondary Filings & Financings:   HL ENLC RF LYB AN files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: none of note

Flat: 

Missed: none of note

News After The Close:

President Trump nominates Kelly Craft to be U.N. Ambassador.

Monro Muffler (MNRO) COO Matthew Naylor to resign as of April 30^th.

Fitch reaffirms Italy Default Rating at BBB with a negative outlook.

Switzerland and Sweden see their credit ratings maintained by top ratings firm.

Moody’s affirms Netherland’s Aaa rating and maintains stable outlook.

Dividend Increase: ORI

Hourly Action This Past Week:

Intraday action remains strong since the beginning of the year but the last two weeks have seen mixed action. Friday saw all indexes close up in the last hour which was a plus to end the week.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures have turned higher overnight as we came into 6:00 a.m. EST.

U.S. futures: S&P +13, Dow Jones +162,  NDX +44 and Russell 2000 +7.70  with fair values HIGHER CUTTING INTO OPEN. Asia and Europe higher.

Gold flat to slightly down with silver and copper higher. WTI Crude higher and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 121.97 with yields higher since Friday morning with the yield at 2.677% from 2.681% from Prices as of 6:45 a.m. EST.

Top Sectors Friday: All led by Technology, Healthcare and Industrials.

Weakest Sectors Thursday: None.

One Month Winners:  Industrial Goods, Technology, Materials, Utilities, Consumer Goods and Services.

Three Month Winners: Technology, Industrials, Utilities and Services.

Six Month Winners: Utilities.

Twelve Month Winners: Utilities, Healthcare, Conglomerates and Services.

Year to Date: All higher led by Industrial Goods, Conglomerates, Materials, Services, Technology and Financials.

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

Today After The Close: OKE MOS ATH ETSY ALSN EPR RP PODD BWXT LSI PEB of note.

Tuesday Before The Open:   HD BND BMO SRE WP TRI AZO LNG DSCA SJM ATHM M MIDD SERV of note.

Earnings This Morning Of Note:

Beat Estimates: CRI +.28 STAR +.22 PLAN +.05 TEX +.04 DORM +.01 AG +.01

Flat:

Missed Estimates: KOS -.06 AWI -.03. 

Rags & Mags:

Top Story: President Trump extends trade talks and no tariff increases on Friday. (CNN)

5 Things You Need To Know To Start Your Day – Trade tariffs on hold, Chinese markets strong, May delays Brexit action, minor economic data and VP Pence to announce tough actions on Venezuela. (Bloomberg)

Warren Buffet Interview worth the watch on CNBC this morning. (CNBC)

Social Security reform is on the table in Congress. (CNBC)

Kraft Heinz (KHC) may sell Maxwell House. (CNBC)

Data Points:

Yesterday saw 2093 stocks rise and 784 fall on the NYSE. NASDAQ saw 2133 rise and 918 fall.

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

The QPI10 Day Moving Average of Breadth (10DMA) moved to buy on January 7th at 2549.69. For a move to a buy from cash, the 10DMA needed to have two days in row above +200 which happened January 7th. The next move will be to cash or sell which right now seems a long ways off but a couple more days like Thursday may cause a signal change.

Courtesy of Quantitative Partners, Inc

YTD  89% of stocks are higher and 11% are lower. Updated 2/22/19 close with next update on 3/1/19 close.

Courtesy of Phil Erlanger Research, Inc.

Trading:

Yesterday saw all indexes close above resistance. We have been getting one weak day each week. That trend remans intact.

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:

None of note today. For the week as follows:

Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as S&P Case Schiller Housing Index, Housing Starts, Consumer Confidence, Factory Orders, Pending Home Sales, GDP, Chicago PMI, Personal Income, ISM Manufacturing Index and University of Michigan Consumer Sentiment.

Politico:

China Trade Talks see no tariff increases as of March 1 per President Trump on Sunday.

Treasury 2 & 5 Treasury Note Auction at 1:00 p.m. EST.

Pharmaceutical Companies to testify before Congress on Tuesday at 10:00 a.m. EST on a variety of issues including the Opiod Crisis and drug pricing.

The House Committee on Oversight and Reform to question President Trump’s Attorney Michael Cohen on 2/27/19 at 10:00 a.m. EST.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: DPW (investor meeting), ETH (investor meeting),CYDY (conference call)

Sellside Conferences: Morgan Stanley Telecom, Media, Technology Conference. JP Morgan Global High Yield & Leveraged Finance Conference. JMP Technology Conference.

Industry Conferences: Mobile World Congress.

M&A News & Rumors:

Barrick Gold (GOLD) bids for Newmont Mining (NEM) with a proposal of 2.5697 shares of GOLD for each share of Newmont.

Roche Holdings (RHHBY) to buy Spark Therapeutics (ONCE) for $114.50 a share.

General Electric (GE) to sell BioPharma business to Danaher (DHR) for $21.4 billion.

Pre-Market Movers:

Winners: ONCE +121%, QURE +18%, VEON +11%, CSIQ +9%, AVP +8%, OPHT +7%, XNET +6%, BZUN +5%, MOMO +5%

Losers: VTVT -8%, RIOT -6%, CECO -6%