The Daily Briefing For February 28th: A Very Volatile Day

by Geoff Garbacz | 02/28/2020 1:13 PM

Rebel Yell Morning Market Report

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The Daily Briefing For February 28th: A Very Volatile Day

IPOs on deck: Passage BIO (PASG) of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced: None of note.

Common Stock filings:  ARNA of note.

Mixed Shelf Offerings:  CLI NYT DOC of note.

Convertible Offering Files:  MSI of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

BIDU +8.38, FTAI +1.18, IQ +0.85, LYV +0.66, TTD +0.33, ICUI +0.28, HHC +0.25, INT +0.23, AMC +0.21, EOG +0.16, WES +0.16, GKOS +0.12, MYL +0.12, AGO +0.11, WDAY +0.10, RWT +0.09, TRHC +0.09, PRAA +0.09, FTCH +0.08, DRQ +0.08, HCAT +0.07, SWN +0.06, CWK +0.05, RRC +0.05, NKTR +0.05, MTZ +0.04, ALTR +0.04, RBA +0.03, AAXN +0.03, AQN +0.02, ADSK +0.02, EIX +0.02, MAIN +0.02, CDNA +0.02, BTG +0.01, LADR +0.01, PSTG +0.01, RP +0.0 of note.

Missed: 

MBI (1.04), CABO (0.50), PBA (0.35), COLL (0.17), OXY (0.16), IRTC (0.15), XLRN (0.13), BIG (0.13), NNI (0.11), TPIC (0.10), CWH (0.10), VMW (0.09), RUN (0.09), SPPI (0.08), ICFI (0.06), PAGS (0.06), IMMU (0.05), SCOR (0.01), EB (0.01), PLYA (0.01), SWCH (0.01), BYND (0.01)   of note.

Flat: 

ACHC +0.00, AIMT +0.00, AMH +0.00, DELL +0.00, MNST +0.00, NPTN +0.00  of note.

Hourly Action This Week: Updated 2/27 Close

News After The Close (In Order of Time)

Columbia Sportswear (COLM) COVID-19 to impact resutls “significantly”.

Sangamo Therapeutucs (SGMO) and Biogen (BIIB) announce global licensing agreement for Alzheimer’s, Parkinson’s and other targets.

Bed,Bath &Beyond (BBBY) announces another beyond,beyond and beyond restructuring.

Health & Hunan Services (HHS) workers were assigned to work with evacuees from Wuhan, China without protective gear.

Stock Buybacks: DELL ABTX GRA

Dividend Increases: RWT EOG LAMR TFSL SLGN WSBC

Dividend Decreases: AMC

Gap Higher: SGMO +40%, FTSV +33%, SCOR +21%, SWN +7%, FTCH +5%, FTAI +5%, HCAT +5%

Gap Lower: BIG -30%, RUN -30%, BYND -12%, AQN -8%, VMW -8%, EB -6%, IQ -5%, ADUS -4%, MYL -4%

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

S&P 500 -72 Dow Jones Industrial Average -555  NASDAQ -219 Russell 2000 -33. Fair values are lower. Asia and Europe lower.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $134.16 from $133.61 with yields at 1.213% from 1.29%.  Prices as of 8:30 a.m. EDT.

Positive Sectors On Thursday: None of note.

Negative Sectors On Thursday: All lower.

One Month Winners: Conglomerates and Utilities.

Three Month Winners: Conglomerates, Utilities, Technology and Consumer Goods.

Six Month Winners:  Technology, Consumer Goods, Healthcare and Utilities.

Twelve Month Winners: Consumer Goods,Technology, Utilities, Services and Industrials.

Year to Date: Conglomerates, Utilities and Technology.

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

Today After The Close: None of note.

Monday Before The Open: JD EVRG  CRAY FOLD NWN WSC DHC CORE GTT EBIX CIR EGRX DSKE of note.

Earnings This Morning Of Note

Beat: 

SGMO +0.37, MGLN +0.27, SSP +0.12, STRA +0.08, VGR +0.05, FL +0.05, CLNY +0.03, AES +0.02 of note.

Flat 

PNM +0.00, SVC +0.00

Missed:

 SUP (3.88), SPR (0.88), W (0.18), ROCK (0.01) of note.

Still To Report: 

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

Top News Story: 

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

Stocks Moving This Morning. (CNBC)

Coronavirus update: Nigeria and New Zealand get first cases. (CNBC)

Coronavirus Map. (Bloomberg)

Vice President Pence say in Fox News interview that “all is well, remain well”. (Fox News)

10 Year Treasury hits 1.16%, a new low. (CNBC)

Former Federal Reserve Governor Kevin Warsh sees a global central bank action sooner than later. (CNBC)

Disneyland Toyko (DIS) to stay closed through mid-March. (WSJ)

Stock Index Tracking

Current through 2/27 close. A real struggle now.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 2/27 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -7.80%. 5 buy signals and 4 cash signals in 2019. We moved to cash at 3116.31 on the S&P 500.

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 2/27 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

January Personal Income is due out 8:30 a.m. EDT and the estimate is for a rise to 0.4% from 0.2%.

February University of Michigan Consumer Sentiment Survey -Final is due out at 10:00 a.m. EDT and is expected to fall to 100.8 from 100.90.

Geopolitical:      

President Trump will head to Charleston, SC for a Keep America Great Rally at 7:00 p.m. EDT.

Federal Reserve Vice Chairman Richard Clarida to speak at 3;00 p.m. EDT.

South Carolina Primary is set for Saturday.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  CATB (Conference Call) 

Sellside Conferences:  Credit Suisse Annual Financials Services Forum 2020 (2/26-2/28).

Industry Conferences: RSA Security Conference (2/24-2/28). American Glaucoma Society Annual Meeting (2/27-3/1).

M&A Activity

DocuSign (DOCU) to buy Seal Software for $188 million.

Upgrades & Downgrades through 8:30 a.m. EDT 2/28

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