The Daily Briefing For March 12th: Brexit Deja Vous
Rebel Yell Morning Market Report
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The Daily Briefing For March 12th: Brexit Deja Vous
Reality Fact: 5,300 brick and mortar stores to close this year led by Payless Shoes, Gymboree, Charlotte Russe and Family Dollar.
In After Hours Trading
IPOs on deck This Week: None of note this week. Next week Lyft. Levi Strauss sets its range $14 to $16.
IPOs on deck for Today: None of note.
Secondaries on deck: ATUS CBRE HLNE of note.
IPO Filings Announced After The Close: None filed today to go public.
Announcements For Secondary Filings & Financings: TGLS EPRT VHI MELI common stock offering. WLTW WAAS mixed shelf offering. SUN AMKR senior notes.
Earnings After The Close:
Beat: OXFD +1.44, CASY +0.14, SFIX +0.07, COUP +0.05, AVD +0.03.
Missed: ADT (0.16), PETQ (0.12), KRO (0.01).
Positive Guidance: AVD SFIX.
Mixed Guidance: COUP ADT OXFD PETQ
News After The Close:
Invesco (IVZ) assets under management increase by 1.60% to $945.7 billion.
Artisan Partners (APAM) sees assets under management rise by 2.65% t0 $108.2 billion.
Cohen & Steers (CNS) sees assets under management rise by 1.33% t0 $60.8 billion.
Alliance Bernstein (AB) sees assets under management rise by 1.67% t0 $547 billion.
Franklin Resources (BEN) sees assets under management rise by 5.29% to $$714.2 billion.
Waddell & Reed (WDR) sees assets under management rise by 2.28% to $71.6 billion.
Lazard (LAZ) sees assets under management rise by 1.91% to $234.4 billion.
Jacobs Technology (JEC) awarded $785 million Army contract.
Dell (DELL) awarded $230 million Navy contract.
Deere & Co (DE) updates February sales.
Stock Repurchase: STMP
Dividend Increases: EFC (declares first dividend)
Notable Recent Insider Transactions Since 3/8:
What’s Happening This Morning: Futures peaked at 6:00 p.m. EDT and have begun to slowly give up gains.
U.S. futures: S&P -1.75, Dow Jones -78.00, NDX +4.25 and Russell 2000 -0.80 with fair values MIXED. Asia and Europe mostly higher, click through for details by country.
Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 122.52 with yields higher since Monday morning with the yield at 2.657% from 2.652%. Prices as of 8:15 a.m. EST.
Top Sectors Monday: All lead by Conglomerates, Technology and Services.
Weakest Sectors Monday: None.
One Month Winners: Technology, Conglomerates, Utilities and Industrials.
Three Month Winners: Industrials, Technology, Conglomerates and Utilities.
Six Month Winners: Utilities, Conglomerates and Technology.
Twelve Month Winners: Utilities, Conglomerates, Healthcare and Services.
Year to Date: All higher led by Conglomerates, Industrial Goods, Technology, Services, Materials and Financials.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest):
Today After The Close: ZTO GH MDB SWCH CAL NTRA SENS COHU EVRI APEI ARA SNCR ZAGG SEN BPI.
Wednesday Before The Open: EXPI SGRY DQ EXPR VRA MDCA EMES
Earnings This Morning Of Note:
Beat Estimates: MOMO +0.07, IPI +0.02, DKS +0.01.
Missed Estimates: KEYW (0.10).
Rags & Mags:
5 Things You Need To Know To Start Your Day– (Bloomberg). Brexit vote today. Venezuela fails to pump oil due to blackout. Bearish Euro bets hit high. CPI due out at 8:30 a.m. EST.
House Speaker Pelossi will not seek to impeach President Trump. (The Washington Post)
Highlighted Stories may be clicked through to the original story.
Yesterday saw 2281 stocks rise and 616 fall on the NYSE. NASDAQ saw 2231 rise and 743 fall.
We are changing the comments on the various moving averages to a table. Changes are in bold.
The QPI10 Day Moving Average of Breadth (10DMA) moved to buy on January 7th at 2549.69 and last Friday the model is back to cash. For a move to cash from buy, the 10DMA needed to have two days in row below -200 which happened with Thursday’s close.
YTD 84% of stocks are higher and 16% are lower. Updated 3/8/19 close with next update on 3/15/19 close.
Economic & Related:
February NFIB Small Business Optimism Index is due out at 6:00 a.m. EDT came in last month at 101.20.
February CPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from 0.0%.
API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Federal Reserve Governor Lael Brainard to speak at 8:45 a.m. EDT.
House hearing on Sprint (S) and T-Mobile (TMUS) merger.
U.K. Brexit Vote somewhere between 2:00-4:00 p.m. EDT.
Conferences & Analyst Meetings:
Analyst Meetings/Notable Conference Call: WMMVY (analyst meeting), COT( investor and analyst meeting), NTNX (customer featured call), ALLE (analyst day),ALTR (analyst and investor day), LGND (analyst day), IOTS (analyst day), COUP (investor day), AJG (investor meeting), BCLI (business update), TRU (investor day), CFX (outlook call), BVN (investor and analyst day).
Sellside Conferences: Cowen Annual Healthcare Conference. Deutsche Bank dbaccess Annual Media, Internet and Telecom Conference. Barclays Global Healthcare Conference. RBC Financial Institutions Conference. Bank of America Merrill Lynch Disruptive Technology Conference. Canaccord Genuity Musculoskeletal Conference. Wolfe Research Fintech Forum.
F5 Network (FFIV) to buy NGINX (privately held) for $670 million.
First Data (FDC) to buy Software Express, no terms.
Upgrades & Downgrades:
Winners: SFIX +25%, OXFD +23%, OXFD +14%, MOMO +10%, MOMO +10%, CDMO +9%, NOG +8%, FANH +5%, AVD +5%,
Losers: ZFGN -24%, ADT -13%, TGLS -9%, FRTA -6%, PETQ -5%, KRO -5%