The Daily Briefing For July 20th: Stocks Mixed In Early Trading
IPOs Priced: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: NKLA 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:
Beat: None of note.
Misses: None of note.
Hourly Action This Past Week: Updated 7/15 Close
News After The Close:
Uber (UBER) to work with Google (GOOGL) Maps.
IBM Corp (IBM) and Ernst Young announce expanded global alliance.
Lockheed Martin (LMT) wins $15 billion Air Force contract and a $940 million Navy contract.
Barron’s + on MSCI SPGI DG DLTR WFC GS and cautious on NFLX.
President Trump had extensive interview on Fox News over the weekend.
Stock Split Announcement:
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 -1 Dow Jones Industrial Average -20 NASDAQ +38 Russell 2000 +1. Fair values are mixed. Asia mixed and Europe mixed. VIX is at 25.90 from 27.75 from Friday morning.
Gold higher, silver higher and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $139.47 from $139.55 with yields at 0.602%.
Positive Sectors On Friday: Utilities, Healthcare, Basic Materials and Real Estate of note.
Negative Sectors On Friday: Energy, Financials, Consumer Cyclical and Telecommunication Services of note.
One Month Winners: Materials, Consumer Cyclical and Technology of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology,Consumer Cyclical and Healthcare 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: DNR +96%, LMNX +13%, QTNT +11%, NBL +10%, ASMB +8%, BNTX +7%, PHG +6%, BABA +5%
Gap Down: NKLA -18%
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: IBM CDNS LOGI CCK STLD ELS ZION ACC BXS LLNW of note.
Tuesday Before The Open: NVS KO PM LMT PLD UBS PCAR SYF CBSH CMA GPK NEOG MUSA SNV GATX CIT SFNC OGI of note.
Earnings This Morning Of Note
LII +0.26, HAL +0.17, PHG +0.12, CALM +0.10, ONB +0.09, MAN +0.01 of note.
None of note.
Still to Report: PETS
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 7/17. Notice that the Market Daily AD Line is flat lining.
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:Trump battles Fauci.(CNBC)
President Trump says next stimulus needs Payroll Tax Cut and liability protection for businesses. (The Washington Post)
Los Angeles on the brinnk of a stay at home order. (CNN)
Quest Diagnositc (DGX) gets Emergency Use Authorization for its proprietary molecular diagnostic test for Covid-19.
BioNTech (BNTX) and Pfizer (PFE) to supply 30 million doses of joint vaccine to U.K. if vaccine tests successful.
Luminex (LMNX) gets Emergency Use AUthorization for COvid-19 anitbody test.
Briggs & Stratton (BBG) files for bankruptcy and will sell all assets to
Stock Index Tracking – A miracle happened last week as the NASDAQ 100 broke its 5 and 10 day moving averages.
Current through 7/17 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 7/17 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.
Economic None of note.
Geopolitical & Related
President Trump will hold a fundraiser at Trump International Hotel in Washington, D.C.
Reserve Bank of Australia (RBA) latest minutes due out at 7:00 p.m. EDT.
Meetings, Calls & Conferences
BHP BBL (Update)
Sellside Conferences: SEMICON West 2020 (7/20-7/23)
Grifols, S.A. (GRFS) to buy Green Cross plasma fractionation facility for $460 million.
Chevron (CVX) to buy Noble Energy (NBL) for $10.28 a share.
Upgrades & Downgrades –
Updated Through 8:35 a.m. EDT.