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: DARE ZSUN of note.

Notes Priced: None of note.

IPO Filings Announced After The Close: Greenlane (GNLN) will offer 5.33 million shares at $14 to $16.

Announcements For Secondary Filings & Financings:   FIXX CISN AUTL HOLI  common stock offering.  HOLI files mixed shelf offering.  

Courtesy of IPO Financial

Earnings After The Close

News After The Close:

Zogenix (ZGNX) receives Refusal To File letter from the FDA.

PhaseBio Pharmaceuticals (PHAS) receives FDA Breakthrough Therapy designation.

NASDAQ (NDAQ) reports U.S. equity options volume was 141 million versus 121 million last month and 151 million a year ago.

Alkermes (ALKS) CEO Jim Robinson resigns and will leave on April 19th.

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 -3.50, Dow Jones -19, NDX -10.25 and Russell 2000 -1.20 with fair values HIGHER ADDING TO LOSSES. Asia mixed and Europe mixed, click through for details by country.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures mixed. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price $123.41 from $123.61 with yields higher since Monday morning with the yield at 2.522% from 2.501%. Prices as of 8:25 a.m. EDT.

Top Sectors Monday: All lead by Materials,Consumer Goods and Services.

Weakest Sectors Monday: Utilities, Industrials and Conglomerates.

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: PSMT WDFC.

Wednesday Before The Open: DAL MSM.

Earnings This Morning Of Note 

Missed: LNN -0.53

Flat: SJR

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

Top Story:  Europe and China may unite against U.S. tariffs. (Bloomberg)

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

Saudi Aramco bond offering of $100 billion gets tons of attention. (CNBC)

Alexa (AMZN) will be able to set health care appointments and check your insurance plan. (The Verge)

Tesla (TSLA) Information Officer has left the company. (The Information Report)

American Airlines (AAL) extends Boeing (BA) 737 Max flight cancellations through June 5th. (Phoenix Business Journal)

U.S. outlines tariffs on the European Union (EU) totaling $11 billion of EU goods. (Bloomberg)

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 1471 stocks rise and 1407 fall on the NYSE. NASDAQ saw 1426 rise and 1647 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:

March NFIB Small Business Optimism Index came out at 6:00 a.m. EDT and last month came in 101.80 from 101.70 last month. 

The latest JOLTS Survey is due out at 10:00 a.m. EDT.

U.S. Treasury auctions $38 billion of 3 Year Notes.

Geopolitical 

President Trump meets with the President of Egypt from 12:00 p.m. EDT until 2:00 p.m. EDT.

The Senate today holds a hearing on Drug Pricing at 10:15 a.m. EDT.

Treasury Secretary Mnuchin will testify on the budget at 10:00 a.m. EDT.

House Hearing with Attorney General William Barr at 9:30 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.

Federal Reserve Vice Chairman Richard Clarida speaks at 6:45 p.m. EDT.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: DCI (investor day) PSMT (monthly sales) FTNT (Fortinet Accelrate)

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

Industry Conferences: S&P Global Platts Global Power Markets Conference. Automate 2019. Oracle (ORCL) Health Sciences Connect.

M&A Activity

A.O. Smith (AOS) will acquire Water Right for $107 million in cash.

Principal (PFG) buys Wells Fargo (WFC) Investment unit for $1.2 billion.

Upgrades & Downgrades

Pre-Market Movers:

Winners: PHAS +28%, CMRX +8%, MTSI +5%,

Losers:  ZGNX -31%, HOLI -8%, LNN -7%,