Corporate Actions

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

IPOs on deck for Today: None of note.

Secondaries on deck: None of note.

Notes Priced: None of note.

IPO Filings Announced After The Close: Pinterest will offer 75 million shares between $15 and $17 a share.

Announcements For Secondary Filings & Financings:   OCUL TH common stock offering.  TTNP CPE NBEV SPPI  files mixed shelf offering.  

Courtesy of IPO Financial

Earnings After The Close

None of note.

News After The Close:

Boeing (BA) to cut 737 Max production from 52 airplanes to 42 per month starting in April.

Vornado Realty Trust (VNO) names Michael Franco as President and David Greenbaum as Vice Chairman.

Dividend Increases: AON

Hourly Action This Past Week:

Negative periods for the week are 9:30 to 10:00 a.m. EDT and 12:00 p.m. to 1:00 p.m. EDT.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 fell until 2:00 a.m. EDT and have been rising but still negative. That said , the range is rather narrow, 10 points.

U.S. futures: S&P -3, Dow Jones -77, NDX -7.75 and Russell 2000 -3.70 with fair values HIGHER HURTING THE OPEN. Asia mixed 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, lower vs. Pound and lower vs. Yen. US 10 year Treasury price $123.61 from $123.64 with yields higher since Friday morning with the yield at 2.501% from 2.537%. Prices as of 8:15 a.m. EDT.

Top Sectors Friday: All lead by Materials, Services, Utilities and Healthcare.

Weakest Sectors Friday: None.

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: None of note.

Tuesday Before The Open: AGX LNN SJR.

Earnings This Morning Of Note

None of note.

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

Top Story: U.K. Prime Minister Theresa May and German Prime Minister Angela Merkel ahead of EU meeting this week. (Bloomberg)

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

President Trump fires Secretary of Homeland Security Kirstjen Nielsen and replaces with Kevin McAleenan. (CNN)

China Sovereign Wealth Fund has not done deals since 2017. (Bloomberg)

Softbank (SFTBY) unit Grab will raise another $2 billion. (Reuters)

ECB did not discuss tiering options for the banks. (Bloomberg Radio)

Tesla (TSLA) lowers deliveries for 2019 to 320,000 from 360,00 to 400,000. (Needham)

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.

Yesterday saw 2090 stocks rise and 770 fall on the NYSE. NASDAQ saw 2149 rise and 939 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. This week has  all indexes average resistance to pivot, a good week.

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:

February Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -0.6% from 0.1%.

Geopolitical 

President Trump participates in a credentialing ceremony for newly nominated ambassadors at 11:45 a.m. EDT.

Bank CEOs back to the Hill and will testify before the House Financial Services Committee on Wednesday at 9:00 a.m. EDT.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: FTNT (Fortinet Accelerate 2019).

Sellside Conferences: H.C. Wainwright Global Life Sciences Conference. Santander Argentina Conference.

Industry Conferences: S&P Global Platts Global Power Markets Conference. Automate 2019.

M&A Activity

Capitol Investment Group  (CIC) and Nesco to merge with new value of $1.1 billion.

2U (TWOU) to buy Trilogy Education for $750 million in cash and stock.

Upgrades & Downgrades

Pre-Market Movers:

Winners: FRO +9%, Z +5%, RIOT +5%,

Losers: GE -6%, JKS -5%, BA -4%,