In After Hours Trading

IPOs on deck:  Six on deck for this week including Alector, GossamerBio, Harpon Therapeutics, Monocle Acquisition, RMG Acquisition and Weatherbridge Acquisition.

Secondaries on deck:No secondaries to be priced this morning.

IPO Filings After The Close:  no common stock offerings today.  

Announcements For Secondary Filings & Financings:  TORC files common stock offering.   MNLO NLY JEF TORC files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  ON +.06.

Flat: none of note. 

Missed: none of note.

Positive Guidance Post Earnings:  

Mixed Guidance Post Earnings: .

Negative Guidance Post Earnings:  ON.

Dividend Increase: NI. 

Stock Repurchase Announcement:  .

News After The Close

General Electric (GE) awarded $517 million contract from the Army on turbine engines.

Weekend Reading

U.K. Prime Minister Theresa May likely to return to the EU for new Brexit proposal. (FT)

President Trump interviewed by CBS News over the weekend. (CBS News)

Stocks mentioned positively in Barron’s SYK MSFT APTV SAVE BUD BLL BAM MRK REGN ABB GLW AMD . Negative on FIVE NVO ABBV.

President Trump denied a loan from Deutsche Bank (DB) during the election in 2016. (NYT)

Investors positive on turnaround at Ford (F). WSJ)

Hourly Action This Past Week:

Intraday action remains very strong since the beginning of the year. Full update tomorrow.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures 

U.S. futures: S&P +2, Dow Jones +18,  NDX +5 and Russell 2000 +0.60  with fair values MIXED.  Asia and Europe mixed.

Gold, silver and copper lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 121.89 with yields lower since Friday morning with the yield at 2.695%. Prices as of 8:15 a.m. EDT.

Top Sectors Friday: Materials, Financials and Healthcare.

Weakest Sectors Friday: Conglomerates, Services and Utilities.

One Month Winners:  All lead by Conglomerates, Financials, Services, Industrial, Technology and Materials.

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

Six Month Winners: Utilities.

Twelve Month Winners: Utilities, Healthcare and Conglomerates.

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

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

Today After The Close:  GOOGL GILD AVB HIG ARE STX QGEN AIV KRC LEG OLN VSM RBC KMT CBT LM.

Tuesday Before The Open:  BP BDX EL EMR CNC ADM TDG AME CHD WCG IT VIAB RL LII of note.

Earnings This Morning Of Note:

Beat Estimates:   ALXN +0.30, SAIA +0.09, CLX +0.09, MTSC +0.05, AMG +0.02.

Flat: 

Missed Estimates: .

Still to Report: BZH, MDP, SYY.

Raised Guidance:  

Lowered Guidance: .

Mixed Guidance:  ALXN.

Rags & Mags:

Top Story:  

Five Things You Need To Know To Start Your Day. (Bloomberg) –  Government Shutdown Deja Vous, Bad Brexit News, Oil UP, Markets Quiet and Fed Comments.

China January PMI fell to 53.6 from 53.9. (Reuters)

Senate Democrats want to limit stock buybacks. (NYT)

Starboard’s Jeffrey Smith named Chairman of Papa John’s (PZZA). (CNBC)

Bond King Bill Gross to retire from Janus Henderson. (CNBC)

Data Points:

Yesterday saw 1639 stocks rise and 1274 fall on the NYSE. NASDAQ saw 1758 rise and 1285 fall.

The SP 500 is still above its 50 day simple moving average but remains below its 200 day simple moving average. The Russell 2000 is also above its 50 day simple moving average but below its 200 day simple moving average. The Dow is also above its 50 day simple moving average  but remains below its 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. Watch closely.

Courtesy of Quantitative Partners, Inc

YTD  88% of stocks are higher and 12% are lower. Updated 2/1/19 close with next update on 2/8/19 close.

Courtesy of Phil Erlanger Research, Inc.

Trading:

Friday was  a decent day of trading as the S&P 500 and Russell 2000 closed resistance to pivot. Full update tomorrow.

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:

November Factory Orders are due out at 10:00 a.m. EST and are expected to rise to 0.3% from -2.1%.

January Monthly Auto and Truck Sales are due out at 2:00 p.m. EST.

Politico:

Tomorrow is State of the Union and President Trump will deliver it at 9:00 p.m. EST.

Federal Reserve Minneapolis President Neel Kashkari spoke this morning and noted the economy is “coming around”.

Federal Reserve Cleveland President Loretta Mester to speak at 7:30 p.m. EST.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: AKTS (update), 

Sellside Conferences: none of note.

Industry Conferences: MicroStrategy World 2019.

M&A News & Rumors:

Ultimate Software (ULTI) to be purchased for $331.50 in cash by Hellman & Friedman.

Significant Upgrades (to buy) & Downgrades (to sell or underweight)

Pre-Market Movers:

Winners:  ULTI +18%, PZZA +7%, ALXN +5%.

Losers: AU -7%, MTCH -6%, HMY -4%.