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: Super League Gaming (SLGG) of note.

Secondaries on deck:  SAGE GDDY FND VTGN 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:   files mixed shelf offering. DHR RARE SAGE FND GDDY file common stock offering. DHR convertible offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: DDS +.58 HTZ +.35 KAMN +.29 JBT +.27 THC +.22 MOS +.20 ALSN +.16 BWXT +.15 RCII +.15 APTS +.11 PODD +.10 PLOW +.07  OFIX +.07 RRC +.05 ETSY +.04 LDL +.04 ATH +.03 SHAK +.03 

Flat: 

Missed: SYKE -.08 OKE -.04 CORT -.03 CDEV -.03 AWR -.01.

Positive Guidance: ETSY SNHY 

Negative Guidance: KAMN APTS OFIS FRAC HNI LSI

News After The Close:

Jury upholds Repatha patents for Amgen (AMGN).

SEC asks judge to hold Tesla (TSLA) CEO Elon Musk in contempt for recent Tweets.

Iran Foreign Minister Javad Zarif resigned after the close.

Dividend Increase: HSII SWX HD

Stock Repurchase: AMED HD BMO

Hourly Action This Past Week:

Monday’s intraday action was the worst action since January 3rd when all three indexes were each only up for one hour. Monday saw the the Dow and the S&P 500 trade up in only one hour while the Russell 2000 traded up during two of the hourly sessions. On January 4th, all three indexes traded higher in five of the seven hourly sessions. Will a reversal hold for today?

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures have turned bounced off their low overnight as we came into 7:00 a.m. EST but are still lower.

U.S. futures: S&P -4.75, Dow Jones -86,  NDX -23 and Russell 2000 -1.70  with fair values LOWER LESSENING THE PAIN. Asia and Europe lower.

Gold and silver lower with copper higher. WTI Crude higher and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 122.16 with yields lower since Monday morning with the yield at 2.657% from 2.677%. Prices as of 8:15 a.m. EST.

Top Sectors Monday: Industrials, Conglomerates, Technology and Healthcare.

Weakest Sectors Monday: Utilities and Consumer Goods.

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

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

Six Month Winners: Utilities.

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

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

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

Today After The Close: EOG PSA PANW VEEV MELI MYL CSGP HEI JAZZ MASI PLNT TOL SEA CW PEN FGEN GWPH of note.

Wednesday Before The Open: LOW AMT TJX PEG BBY WB AES CPB  IONS WEX AMRN ARRS UTHR SINA HPT CHK PNM HZNP DOC of note.

Earnings This Morning Of Note:

Beat Estimates: AZO +1.49 SAFM +.66 FCN +.29 SJM +.24 ATHN +.22 TRI +.14 HD +.09 BMO +.07 

Flat:

Missed Estimates: TREE -.25 TA -.24 USCR -.23 BCC -.21 CLVS -.16 RLGY -.10  LNG -.08 BNS -.07 CBRL -.02. 

Rags & Mags:

Top Story: President Trump to Vietnam for meeting with North Korea.

5 Things You Need To Know To Start Your Day – Iran Foreign Minister out, Trump in Vietnam, another Brexit delay, Powell testimony. (Bloomberg)

Tesla (TSLA) CEO responds that he gave guidance in recent earnings call of 350,000 to 500,000 so he is fine on contempt charge. (Twitter)

FDA Chairman Scott Gottlieb interviewed on CNBC this morning. (CNBC)

U.K. Prime Minister Theresa May consider another delay on Brexit. (Bloomberg)

Department of Justice to ask a judge to approve CVS/AET merger. (Reuters)

Intel (INTC) ends 5G Alliance with Chinese Chip Company. (Nikkei Report)

Data Points:

Yesterday saw 1435 stocks rise and 1438 fall on the NYSE. NASDAQ saw 1562 rise and 1489 fall. A mixed day despite the indexes being higher.

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 the Dow close above resistance while the Russell 2000 and S&P 500 closed resistance to pivot. 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:

S&P Case Schiller Home Price Index is due out at 8:00 a.m. EST and is expected to fall to 4.5% from 4.7%.

December Housing Starts are due out at 8:30 a.m. EST and are expected to fall to 1,254,000 from 1,256,000.

February Consumer Confidence is due out at 10:00 a.m. EST and is expected to rise to 125 from 120.02.

Geopolitical:

Federal Reserve Chairman Jerome Powell will testify before the Senate today as he delivers the first day of the semi-annual Humphrey Hawkins Testimony.

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: JPM (investor day), TROW (investor day), AGR (investor meeting), CTMX (R&D Day), GTES (investor day)

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

Industry Conferences: Mobile World Congress.

M&A News & Rumors:

Stryker (SYK) completes acquisition of Arrinex.

CalAmp (CAMP) announces two acquisitions Car Track and TRACKER, with each acquisition costing $13 million.

Walmart (WMT) buys Aspectiva, no terms.

Hess Midstream (HESM) buys Summit Midstream Partners’ Tioga Gathering System for $60 million of cash.

Upgrades & Downgrades:

Double Downgrade: UBS took CAT from Buy to Sell which is a serious downgrade.

Pre-Market Movers:

Winners: THC +18%, DDS +13%, HTZ +12%, SNHY +11%, ETSY +9%, HSII +8%, EVER +7%, TWOU +6%, MOS +5%, GSM +5%, RCII +5%

Losers: MEDP -10%, IMMU -8%, RP -8%, SAGE -5%, RARE -5%