The Daily Briefing For July 16th: Futures Lower
IPOs Priced: Trean Insurance Group (TIG) priced at $15 with a range of $13 to $15.
IPOs Filed: None of note.
Secondaries Priced: HHR ADPT RLAY PROF APTO BCEL of note.
Notes Priced of note: None of note.
Common Stock filings: CYTK BCEL INMD APTO of note.
Mixed Shelf Offerings:None of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
SNBR +0.22 AA +0.21 of note.
None of note.
Hourly Action This Past Week: Updated 7/15 Close
News After The Close:
Real Page (RP) CFO Tom Ernst resigns as of 8/15.
Amazon (AMZN) extends work at home time for employees to January 8th, 2021.
Twitter (TWTR) gets hacked and many high profile members hacked like Elon Musk, Bill Gates and President Obama of note.
Dell (DELL) may spinoff it 81% stake in VMware, which is an old rumor.
Oxford University who is partnered with AstraZeneca (AZN) has generated an immune response against Covid-19 in their Phase I trial according to The Telegraph. Note that Moderna (MRNA) reported the same thing on Tuesday night. Their Phase I results are due next Monday.
American Airlines (AAL) may layoff up to 25,000 employees as it it issues WARN letters.
Kohl’s (KSS) to require all customers to wear masks in stores as of Monday, 7/20. Kroger (KR) will as well and start on 7/22.
Stock Buyback: IMAB
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.
S&P 500 -24 Dow Jones Industrial Average -196 NASDAQ -162 Russell 2000 -5.77. Fair values are lower. Asia mixed and Europe lower. VIX is at 31.40 from 28.28 yesterday morning.
Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.39 from $139.13 with yields at 0.646%.
Positive Sectors On Wednesday: Industrials, Healthcare, Financials and Energy of note.
Negative Sectors On Wednesday: Utilities of note.
One Month Winners: Technology. Materials and Consumer Cyclical of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology and Consumer Cyclical of note.
Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
Gap Up: DELL +8%, RTIX +5%, AA +4%.
Gap Down: TCDA -35%, INMB -18%, APTO -11%, PROF -8%, BCEL -8%, HTHT -7%, TWTR -6%, CYTK -5%, AAL -4%, ADPT -4%
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: NFLX PPG JBHT FFIN WAL FNB MRTN of note.
Friday Before The Open: BLK ERIC STT KSU NVR CFG RF ALLY ALV FHN of note.
Earnings This Morning Of Note
TSM 1.45 MS 0.83 DPZ 0.74 +WPS +0.36 JNJ +0.16 ABT +0.15 BAC +0.09 SONS +0.02 of note.
None of note.
Still to Report:
Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 7/15.
Courtesy of Phil Erlanger Research Inc.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day. (Bloomberg)
Stocks making the biggest moves. (CNBC)
Coronavirus Update: India near 1 million cases. (CNBC)
43 states are seeing an increase in cases while two are seeing a decrease. (NYT)
Hospital beds in the south and west are nearing capacity. (WSJ)
Dr.Fauci believes there will be a Covid-19 vaccine by yearend with Moderna (MRNA) looking promising. (Reuters)
Georgia Governor Brian Kemp overrules cities and declares that people do not have to wear masks. (The Washington Post)
A heat wave is hitting the south and southwest raising energy bills at a time when not needed.
All migrant children must be released from detention by Friday due to Covid-19. (The Boston Globe)
China’s economy grew 3.2% in Q2. (NYT)
Trump Administration looks to new travel restrictions into the U.S. for members of the Chinese Communist Party (CCP). (NYT)
OPEC+ which is OPEC and additional countries agree to production increase in August.
Telsa (TSLA) registrations in California fell 48%. (Reuters)
Stock Index Tracking
Current through 7/15 close.
Bold means a change from prior day.
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. Updated through 7/15 close. EVL Ranges continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO).
Courtesy of Phil Erlanger Research, Inc.
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
June Retail Sales are due out at 8:30 a.m. EDT and last month jumped by 17.70% adn is expected to rise by 6% this month.
The July Philadelphia Fed Index is due out at 8:30 a.m. EDT and came in last month at 27.5 with an estimate of 20 this month.
July NAHB Housing Market Index is due out at 10:00 a.m. EDT and came in last month at 58 with an estimate this month of 61.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT
Geopolitical & Related
The European Central Bank (ECB) is out with its latest interest rate decision and left rates unchanged and did not change bond buying program. Press conference at 8:30 a.m. EDT.
President Trump will receive his intelligence briefing at 11:00 a.m. EDT and then speak at 4:00 on the rolling back of regulations.
Federal Reserve New York President John Williams to speak at 11:10 p.m. EDT.
Federal Reserve Chicago President Charles Evans to speak at 3:00 p.m. EDT.
Meetings, Calls & Conferences
BIOAF (Webcast) IAC ANGI (Investor Day) OI (Conference Call)
Sellside Conferences: None of note.
Upgrades & Downgrades
Updated Through 8:35 a.m. EDT.