Corporate Actions

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

IPOs on deck for Today: Palomar Holdings (PLMR) Turning Point Therapeutics (TPTX)

Secondaries on deck:  BWAY HOLI COLD

Notes Priced:  None of note.

IPO Filings Announced After The Close:

Other Filings of Note. ARNC NTRA CURO files a secondary offering. HST files mixed shelf offering.

IPO News: Pinterest pricing range is $15-$17.

Courtesy of IPO Financial

Earnings After The Close:

Beat: UAL +0.19, MLNX +0.14, CSX +0.11, NFLX +0.06, HWC +0.03, MRTN +0.01, IBM +0.01

Flat: FULT HOPE.

Missed: WSBC (0.02)

Dividend Increases: 

News After The Close:

Funko (FNKO) CFO Russell Nickel will leave at the end of 2019.

Department of Justice not likely to approve T Mobile (TMUS) and Sprint (S) merger.

CEO of T Mobile (TMUS) John Legere calls the story “untrue”.

Lockheed Martin (LMT) wins Air Force contract worth $880 million.

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 Tuesday’s close. There was a nice pop on China data around 10:00 p.m. EDT.

U.S. futures: S&P +7.25, Dow Jones +40, NDX +33 and Russell 2000 +4.00 with fair values MIXED. Asia higher and Europe mixed, click through for details by country.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price $122.73 from $123.03 with yields higher since Tuesday morning with the yield at 2.605% from 2.569%. Prices as of 8:15 a.m. EDT.

Top Sectors Tuesday: Financials, Industrials, Conglomerates, Services and Technology.

Weakest Sectors Tuesday: Utilities and Healthcare.

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: CCI LVS KMI TEAM ETFC URI TMK CCK SLG AA SLM OZK UMPQ BXS TCBI CNS PLXS EGBN SNBR.

Thursday Before The Open: TSM PM UNP HON DHR AXP SLB BX BBT TRV STI RCI PPG SYF CHKP KEY GPC CFG RF DOV ALLY NVR SNA.

Earnings This Morning Of Note 

Beat: ASML +0.36, MS +0.16, ERIC +0.16, TXT +0.08, PEP +0.04, ABB +0.03, ABT +0.01

Flat: USB

Missed:  PNR (0.28), SBNY (0.08), BK (0.02), POL (0.01)

Still To Report: BMI, FRAN, KSU

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

Top Story: China puts up best Industrial Production number since July of 2014 and GDP came in at 6.4%. (WSJ)

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

Japan and U.S. trade representatives to meet next week. (FT)

Mortgage Applications hit highest levels in nine years. (CNBC)

Intel (INTC) drops out of 5G Chip production. Qualcomm (QCOM) will dominate this space now.

Data Points

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

Yesterday saw 1570 stocks rise and 1310 fall on the NYSE. NASDAQ saw 1772 rise and 1305 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:

API Petroleum Institute sees Crude Oil have a draw of 3.096 million barrels and Gasoline had a draw of 3.561 million barrels.

Weekly Crude Oil Inventories due out at 10:30 a.m. EDT.

April Federal Reserve Beige Book is due out at 2:00 p.m. EDT.

Geopolitical 

President Trump participates in an Opportunity Zone Conference at 2:00 p.m. EDT.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call:  SBFG (investor meeting) SFNC (investor/analyst day) RARE (investor/analyst day) AMC (analyst day). Bank of America Merrill Lynch Auto Summit.

Sellside Conferences: Kempen Life Sciences Conference. Jefferies Cannabis Summit.

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

M&A Activity

Apollo Global Management (APO) to buy Smart & Financial Stores (SFS) for $6.50 a share.

Broadridge Financial (BR) to buy the retirement plan custody and trust assets from TD Ameritrade (AMTD), no terms.

Upgrades & Downgrades

After Hour Upgrades CLI QCOM (Stifel) VEC (Drexel Hamilton)

Pre-Market Movers:

Winners: SFS +20%, TUFN +13%, JMIA +11%, SBNY +9%, UXIN +7%, ABB +5%, QCOM +5%.

Losers: NTRA -7%, APHA -6%, S -5% TMUS -4%.