Corporate Actions

IPOs on deck for This Week: 5 IPOs for this week

IPOs on deck for Today: Ruhnn (RUHN) of note.

Secondaries on deck:  ADXS STNE IZEA BILI QTT of note.

IPO Filings Announced After The Close: None filed today to go public.

Announcements For Secondary Filings & Financings:   STNE common stock offering. SBLK ACB files mixed shelf offering. 

Courtesy of IPO Financial

Earnings After The Close

Beat: PLAY +0.11, GME +0.02

News After The Close

CNBC reports that  Lyft (LYFT) underwriters have not been supporting the stock.

Qualcomm (QCOM) confirms CFO George Davis to leave the firm as he moves to Intel (INTC) to be EVP/CFO.

Signet Jewelers (SIG) President Sebastian Hobbs to step down tomorrow.

SP Plus (SP) CFO Vance Johnston to leave 4/18 to pursue other opportunities.

Altaba (AABA) Board approves the dissolution of the fund.

Stock Repurchase: 

10K Delays: EVC

Hourly Action This Past Week:

The only negative period for the week is 9:30 to 10:00 a.m. EDT.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500  have been rising since 8:00 p.m. EDT.

U.S. futures: S&P +17, Dow Jones +124, NDX +46 and Russell 2000 +11.60 with fair values HIGHER CUTTING INTO GAINS. Asia and Europe higher, click through for details by country.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is flat. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price $123.47 from $123.77 with yields higher since Tuesday morning with the yield at 2.517% from 2.471%. Prices as of 8:25 a.m. EDT.

Top Sectors Tuesday: Technology, Conglomerates and Consumer Goods.

Weakest Sectors Tuesday: Services, Materials and Utilities.

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

Three Month Winners:  Conglomerates, Industrials, Technology and Services.

Six Month Winners: Utilities, Conglomerates and Technology.

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: LNDC RECN.

Thursday Before The Open: STZ RPM ISCA SMPL SCHN.

Earnings This Morning Of Note

Beat Estimates: SIG +0.14

Missed Estimates:

Still to Report:

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

Top Story: 

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

President Trump continues to criticize the Fed Chairman. (WSJ)

Enforcement of trade deal remains a sticking point with China and the U.S. (FT)

Chinese woman was arrested after entering Mar a Largo with malware while President Trump was there. (NYT)

Ethiopian pilots did follow protocol before the crash of the Airmax 737, a negative for Boeing (BA). (WSJ)

Advanced Micro Devices (AMD) to seek pick up in sales in the second half of the year. (Digitimes Report)

Deutsche Bank (DB) Jacksonville Unit let dirty money continue to flow overseas. (Bloomberg)

Data Points

We are changing the comments on the various moving averages to a table. The only negative moving average now is the Russell’s 200 day moving average.

Yesterday saw 1282 stocks rise and 1586 fall on the NYSE. NASDAQ saw 1566 rise and1511 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 3/29/19 close with next update on 4/5/19 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. Monday saw all indexes close above resistance.

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 <GO>

Economic & Related:

After the close, API Petroleum Inventory Data sees Crude Oil Inventories build 3 million barrels and Gasoline Inventories draw 2.6 million barrels.

MBA Mortgage Applications jump 39% this morning.

March ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall to 178,000 from 183,000.

March ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 57.9 from 59.7.

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

Geopolitical

President Trump meets with senior military leaders and has dinner with them afterwards.

Federal Reserve Minneapolis President Neel Kashkari speaks at 5:00 p.m. EDT.

Chinese Vice Premier Liu visits Washington D.C. through Friday for trade talks.

Conferences & Analyst Meetings

Analyst Meetings/Notable Conference Call: SAN (investor day) TECK (investor and analyst day) TNP (investor and analyst lunch). PNM (investor day).

Sellside Conferences: UBS European Tour.

Industry Conferences:  American Association for Cancer Research Annual Meeting.

 M&A Activity

Natus Medical (BABY) sells Medix Medical Devices to employee lead buyout.

Midland States Bancorp (MSBI) to buy HomeStar Financial Group  in exhcnage for 405,000 shares of Midland shares.

Upgrades & Downgrades

Pre-Market Movers:

Winners: APRN +16%, ADMA +8%, PLAY +6%.

Losers: AVEO -24%, USNA -14%, GME -9%.