The Daily Briefing For April 14th: Futures Higher

by Geoff Garbacz | 04/14/2020 8:57 AM

Rebel Yell Morning Market Report

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The Daily Briefing For April 14th: Futures Higher

Breaking News: IMF Slashes Growth Forecast For World to -3%, Worst Since 1930s

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: INSP of note.

Notes Priced of note:  BURL NTRA of note.

Common Stock filings: INSP PLUG  of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: DKS of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

None of note.

Flat: 

Misses:

None of note.

Gap Ups: BLPH +23%, ROKU +12%, TMDX +7%, YETI +7%, ABR +7%, AMRN +6%, KRMD +5%, CNK +4%, CONN +4%,

Gap Downs: CORR -33%, XENT -15%, CLF -4%

Hourly Action This Past Week: Updated 4/9 Close

News After The Close (In Order)

Becton Dickinson (BDX) gets second FDA approval for second COVID-19 molecular diagnostic test.

Five Below (FIVE) prepares for a May 1st opening and takes other actions to reduce costs.

U.S. Treasury will make second round of direct payments on 4/15.

Exxon (XOM) and Royal Dutch Shell (RDSA) halt production at certain Gulf of Mexico sites after pipeline leaks.

Walt Disney (DIS) enters credit agreement up to $5 billion.

Raises Guidance: ROKU AMRN 

Lowers Guidance: LAD 

Withdraws Guidance: INSP FIS TMDX XENT ROKU LMAT XRAY AQUA DKS A

Stock Buybacks Stopped:

Dividend Increase: JNJ 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +48  Dow Jones Industrial Average +391  NASDAQ +154 Russell 2000 +34  . Fair values are lower.  Asia higher and Europe mixed.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $138.11 from $138.23 with  yields at 0.742% from 0.722%.

Positive Sectors On Monday: Services and Technology of note.

Negative Sectors On Monday: Industrial, Financials and Utilities of note.

One Month Winners: Materials, Energy, Healthcare and Technology of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare and Technology of note.

Year to Date: None of note.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close:  JBHT UAL  WAFD of note.

Wednesday Before The Open: UNH BAC C MS GS USB SCHW PNC PGR PNR SBNY NWBI APHA of note.

Earnings This Morning Of Note

Beat: 

JNJ +0.30, FRC +0.14 of note.

Flat: FAST, OGI

Missed:

 JPM (1.42), WFC (0.61),  CONN (0.15) of note.

Still to Report: INFY

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

Top News Story:  China trade data lower but beats expectations.  (CNBC)

5 Things To Know To Start Your Day. (Bloomberg)

5 Things To Know To Start Your Tuesday. (CNBC)

Stocks Making The Biggest Moves. (CNBC)

Coronavirus update: WHO says no peak yet.

Global Coronavirus Map update: 

U.S. Coronavirus Map update: Raises guidance to 30,200 to 176,000 from 26,500 to 155,300 on 4/10. Midpoint now 68,800.

France and Italy continue social distancing but Spain lets some people go back to work. (Financial Times)

India extends lockdown through May 3rd. (CNBC)

Apple (AAPL) ships 2.5 million phones in China during March. (Reuters)

Tesla (TSLA) asks landlords for rent reduction.

DRAM demand is strong per Cascend Research a + for MU INTC AVGO NVDA.

Stock Index Tracking

Current through 4/9 close.  Improvement noted below.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 4/9 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 1.14% with the S&P 500 lower by -13.65% through Thursday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 10.40% through last Friday's close.

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. Update through 4/9 close. EVL Ranges remain above normal and are highlighted in blue.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

API Petroleum Institute Data is due out at 4:30 p.m. EDT.

Geopolitical: 

President Trump will meet with recovered COVID-19 patients at 11:30 a.m. EDT then receives his intelligence briefing at 2:00 p.m. EDT followed by a 3:30 meeting with Healthcare Executives at 3:30 p.m. EDT.

Federal Reserve Chicago President Charles Evans speaks at 10:30 a.m. EDT.

The Coronavirus Task Force to meet at 5:00 p.m. EDT for their daily press conference.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:   IPWR (Conference Call) VOLT  (Webcast) EXK (Update) MRNA (Investor Day)

Sellside Conferences: Needham Virtutal Annual Healthcare Conference.

Industry Conferences: CISO Summit 2020. Association of National Advertisers Email Evolution Conference.

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