Corporate Actions

IPOs on deck for This Week: 7  of note including Pinterest.

IPOs on deck for Today: None of note

Secondaries on deck:  JBGS RCKT EVSI of note.

Notes Priced:  None of note.

IPO Filings Announced After The Close:

Other Filings of Note. RCKT JBGS DAVA COLD files a secondary offering. VER APLE files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: PNFP +.03

Missed: JBHT -0.16 WTFC -.01

Dividend Increases: WHR

News After The Close:

United Technologies (UTX) Prat & Whitney Engines unit wins $200 million Navy contract.

AT&T (T) sells its $1.43 billion stake in Hulu back to the streaming video joint venture.

Genesse & Wyoming (GWR) railroad total March traffic fell -8.3% from prior year and railroad traffic fell -4.1%.

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 have been moving higher since Monday’s close.

U.S. futures: S&P +10.25, Dow Jones +166, NDX +32.50 and Russell 2000 +5.90 with fair values  SLIGHTLY HIGHER. Asia higher and Europe mixed, click through for details by country.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price $123.03 from $123.08 with yields lower since Monday morning with the yield at 2.569% from 2.562%. Prices as of 8:20 a.m. EDT.

Top Sectors Monday: Financials, Industrials, Services and Technology.

Weakest Sectors Monday: Materials, Financials and Industrials.

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: NFLX IBM CSX UAL MLNX HWC FULT HCSG .

Wednesday Before The Open: PEP ABT ASML USB MS BK ERIC TXT KSU PNR POL BMI FRAN.

Earnings This Morning Of Note 

Beat: BLK +0.48, CMA +0.15, UNH +0.13, OMC +0.07, JNJ +0.06, BAC +0.04, WAFD +0.02, PACW +0.01

Flat: FHN

Missed:

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

Top Story: Notre Dame fire is out. Will rebuild. (Bloomberg)

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

House Intelligence Committee sends subpoena to Deutsche Bank (DB) to get President Trumps tax returns through documentation from loans. (CNN)

Blackrock’s (BLK) Larry Fink notes risk of a meltup. (Bloomberg)

Data Points

We are changing the comments on the various moving averages to a table. All indexes are positive.

Yesterday saw 1302 stocks rise and 1548 fall on the NYSE. NASDAQ saw 1198 rise and 1891 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 78% (-2% week over week) of stocks are higher and 22% are lower. Updated 4/12/19 close with next update on 4/19/19 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:

March Industrial Production is due out at 9:15 a.m. EDT and expected to rise to 0.2% from 0.1%

April NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to rise to 63 from 62.

Geopolitical 

The Reserve Bank of Australia out with its latest announcement and was more dovish that expected.

President Trump has lunch with the Vice President and attends the swearing in the new head of the EPA at 4:00 p.m. EDT.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: NICE (investor day) 

Sellside Conferences: Erste Bank Investor Conference. Kempen Life Sciences Conference.

Industry Conferences: World Vaccine Congress 2019. American Association of Neurological Surgeons Annual Meeting.

M&A Activity

Ultra Clean Holdings (UCTT) buys Dynamic Manufacturing Solutions for $30 million in cash.

Mastercard (CA) buy Vyze, no terms.

Upgrades & Downgrades

Pre-Market Movers:

Winners: JMIA +10%, 

Losers:  HIVE -7%, WVE -5% JBHT -5%, RCKT -4%