Corporate Actions

IPOs on deck for This Week: 4 IPOs for this week- B. Riley Principled Merger Unit, Jumia Technologies, Pagerduty and Tufin Software.

IPOs on deck for Today: Tufin Software (TUFN) and Pagerduty (PD) of note.

Secondaries on deck: CTRE AUTL BDSI  on deck.

Notes Priced: PAR of note.

IPO Filings Announced After The Close:

Announcements For Secondary Filings & Financings:   CTRE BDSI TH common stock offering.  FLS files mixed shelf offering.  

Courtesy of IPO Financial

Earnings After The Close:

Beat: BBBY +0.10

Mixed Guidance: BBBY

News After The Close:

Spirit (SAVE) sees Total Q1 Revenue Per Available Seat at 4% from 5% with CASM still at 2.5%.

Costco (COST) sees March Comps +5.7% against +3.5%.

Science Applications (SAIC) wins $292 million NASA contract through its Safety and Mission Assurance Engineering unit.

Northrup Grumman (NOC) wins a $3.17 billion Navy contract.

Deere & Co (DE) out with March Sales mixed results.

Rogers Communications (RCI) wins 20 year contract to build out 5G.

Reverse Stock Split: RAD (1:20)

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 fell until 4:00 a.m. EDT and have been rising since with a range of 10 points.

U.S. futures: S&P +2, Dow Jones +21, NDX +2 and Russell 2000 +1.00 with fair values  LOWER ADDING TO GAINS. Asia mixed and Europe higher, click through for details by country.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price $123.77 from $123.63 with yields lower since Wednesday morning with the yield at 2.477% from 2.502%. Prices as of 8:25 a.m. EDT.

Top Sectors Wednesday: Technology, Consumer Goods and Financials.

Weakest Sectors Wednesday: Conglomerates and Utilities.

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

Three Month Winners:  Technology, Consumer Goods, Industrials and Services.

Six Month Winners: Utilities, Conglomerates, Technology and Services.

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

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

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

Today After The Close: None of note.

Friday Before The Open: JPM WFC PNC FRC LOVE.

Earnings This Morning Of Note 

Beat:

Missed: APOG -0.06 CBSH -0,05

Lower Guidance: APOG

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Top Story: Julian Assange is arrested in London this morning. (BBC)

Five Things You Need To Know To Start Your Day. (Bloomberg)

China moves ahead on opening cloud computing to outside companies. (CNBC)

Tesla (TSLA) puts plans to open giga factory on hold. (CNBC)

Marriott (MAR) signs multiyear deal with Expedia (EXPE). (CNBC)

IEA sees OPEC March Production lower than in November with concern over Libya. (IEA Update)

EU agrees to delay Brexit to October. (WSJ)

Microsoft (MSFT) and Amazon (AMZN) are finalists for a $10 billion Pentagon cloud contract. (NY Times)

Vice President Pence interviewed on CNBC this morning. (CNBC)

Data Points

We are changing the comments on the various moving averages to a table. The Russell’s 200 day moving average is now positive. All indexes ex the Dow back below their 5 day moving averages which also dropped below its 10 day.

Yesterday saw 2130 stocks rise and 752 fall on the NYSE. NASDAQ saw 2147 rise and 946 fall.

The QPI10 Day Moving Average of Breadth (10DMA) is invested on the open from cash Friday morning 3/22. For a move to cash from buy, the 10DMA needed to have two days in row above +200. We remain with a buy as our 10 day moving average remains above -200.

Courtesy of Quantitative Partners, Inc.

YTD 80% (+3% week over week) of stocks are higher and 20% are lower. Updated 4/5/19 close with next update on 4/12/19 close.

Courtesy of Phil Erlanger Research, Inc.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS CS:ERLA

Economic & Related:

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

March PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.3% from 0.1%.

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

U.S. Treasury auctions $16 billion of  30 Year Notes.

Geopolitical 

President Trump meets with the President of South Korea.

Federal Reserve Vice Chairman Clarida  speaks at 9:30 a.m. EDT.

Federal Reserve Governor Bowman  speaks at 4:00 p.m. EDT.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: DIS (investor day)  TROX (conference call) CECO (investor day) GWRE(insurance forum) LB CATO BKE (monthly sales)

Sellside Conferences: Wells Fargo Annual Energy Forum.

Industry Conferences: European Gold Forum. Oracle Health Sciences Connect 2019. World Orphan Drug Congress USA.

M&A Activity

Papa Murphy’s (FRSH) to be acquired for $6.45 a share by MTY Food Group.

Amazon (AMZN) buys Canvas Technology.

Upgrades & Downgrades

Pre-Market Movers:

Winners: CZR +5%, CBSH +5%. 

Losers:  BBBY -10%, APOG -10%, X -5%, TSLA -4%.