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: Secondaries to be priced this morning PDD. 

IPO Filings After The Close:  GossamerBio (GOSS),  Harpon Therapeutics (HARP), RMG Acquisition (RMGU) and IMSC Holdings (IMAC)  common stock offerings today.  

Announcements For Secondary Filings & Financings:  OCX ZIOP PSDO CVET  files common stock offering.   MAS files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: IAC +1.06,  LGND +0.48,  COLM +0.40,  VRSN +0.37,  FSCT +0.24,  MAT +0.22,  CSL +0.22,  SYNA +0.20,  DXC +0.18,  EXPE +0.18,  VSAT +0.17,  QRVO +0.16,  PMT +0.15,  MTW +0.15,  CNXN +0.13,  FWRD +0.13,  BKH +0.13,  PRI +0.13,  FET +0.11,  ALNY +0.11,  MSI +0.11,  HUBG +0.10,  MTD +0.10,  EGAN +0.09,  SKX +0.08,  PRO +0.07,  NWSA +0.06,  BHE +0.06,  POWI +0.05,  MCFT +0.05,  NUAN +0.05,  TDC +0.05,  BECN +0.05,  G +0.04,  ANGI +0.04,  ATEN +0.04,  RPD +0.04,  MHK +0.04,  USX +0.03,  CARB +0.03,  KN +0.03,  OMCL +0.03,  TBI +0.02,  VRTU +0.02,  RSG +0.02,  NCR +0.02,  SWI +0.01,  EHC +0.01,  WTS +0.01,  NR +0.01,  QNST +0.01.

Flat: MOBL, ZAYO, VCRA, CBL, WU, OFC, ATGE.

Missed: UEPS (0.73), SGEN (0.35), FTV (0.19), VVI (0.10), ASYS (0.02), LGF.A (0.02), ESE (0.01), FISV (0.01), CCS (0.01).

Positive Guidance:  COLM  LGND.

Mixed Guidance: 

Negative Guidance: ATEN CBL FTV KN POWI QRVO SGEN SYNA TDC VRSN VCRA.

Dividends Increased: LEA WU RNR PRI CHCT HAS

Dividend Cuts: ARNC

Stock Repurchases of Note: COLM BAC LEA ANGI VVI PRI WTS SNE WY

News After The Close:

Benchmark Electronics (BHE) announces retirement of CEO Paul Tufano.

Raytheon (RTN) wins $410 million contract from the Army.

Hourly Action This Past Week:

Intraday action remains strong since the beginning of the year. However the past two days have seen mixed action.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures 

U.S. futures: S&P -12, Dow Jones -98,  NDX -48 and Russell 2000 -5.60  with fair values HIGHER WEAKENING THE OPEN.  Asia  mixed and Europe lower (for country change click through)

Gold and silver higher with copper lower. WTI Crude lower 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 122.34 with yields lower since Wednesday morning with the yield at 2.64%. Prices as of 8:45 a.m. EDT.

Top Sectors Thursday: Utilities.

Weakest Sectors Thursday: Materials, Technology,Healthcare and Industrials.

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

Three Month Winners: Utilities, Industrial Goods, Technology and Financials.

Six Month Winners: Utilities.

Twelve Month Winners: Utilities, Healthcare and Conglomerates.

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:   CCJ.

Monday Before The Open:  QSR L CNA ACP KMPR NSP MCY DO NCS  GPRE of note.

Earnings This Morning Of Note:

Beat Estimates: BPL +2.44,  PSX +1.98,  CLF +1.44,  CBOE +0.17,  PSXP +0.13,  ESNT +0.12,  EEFT +0.10,  EAF +0.08,  RDN +0.08,  AVA +0.05,  GRC +0.04,  IMGN +0.03, ARNC +0.03, COTY +0.02,  UNVR +0.01,  EXC +0.01,  VTR +0.01 

Flat: None 

Missed Estimates: HAS (0.35), GT (0.18)

Still to Report: 

Rags & Mags:

Top Story: Inability to close trade deal leading markets lower.

5 Things You Need To Know To Start Your Day (Bloomberg) –  Vicious Loop back, Brexit, Bezos photos, markets slump and coming up today.

Progress is being made a week ahead of the government shutdown with Sen. Richard Shelby (R – AL) leading the negotiations. (USA Today)

President Trump noted that U.S. China talks will not hit March 1st deadline. (Bloomberg)

President Trump to ban Huawei from U.S. networks. (CNBC)

Amazon (AMZN) Founder Jeff Bezos accuses the parent of The National Enquirer of blackmail. (USA Today)

Data Points:

Yesterday saw 880 stocks rise and 2020 fall on the NYSE. NASDAQ saw 987 rise and 2043 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 S&P 500 moved above its 100 day simple moving average yesterday while the Russell 2000 is close to this level.

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:

Yesterday was a puke. All indexes closed below support.

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.

Politico:

Attorney General Matthew Whitaker to testify before the House Judiciary Committee at 10:00 a.m. EST.

Government Shutdown II a week away. See story above on progress.

Federal Reserve San Francisco President Mary Daly speaks at 4:15 EST p.m.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: JAPAY (investor meeting).

Sellside Conferences: none of note. None of note.

Industry Conferences: Immuno Oncology 360 Conference

M&A News & Rumors:

Arconic (ARNC) to split into two stocks.

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

Pre-Market Movers:

Winners: EGAN +26%, COTY +19%, SKX +18%, MAT +15, FLDM +14%, VSAT +13%, COLM +12%, FSCT +10%, IMGN +10%, IMGN +10%, BPL +10%,

Losers: VCRA -24%, QNST -14%, HAS -10%, CARB -10%, HAS -10%, SGEN -9%, OCX -6%, SYNA -6, ANGI -6%, MOBL -5%,