The Daily Briefing For March 15th: Options Expiration, Stocks Higher

by Geoff Garbacz | 03/15/2019 9:59 AM

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The Daily Briefing For March 15th: Options Expiration, Stocks Higher

In After Hours Trading

IPOs on deck This Week: None of note this week. Next week Lyft. Levi Strausss ets its range $14 to $16.

IPOs on deck for Today: Trine Acquisition (TRNEU).

Secondaries on deck:  HR AEP of note.

Convertible or Senior Notes on Deck: ENDP SSNC GDS of note.

IPO Filings Announced After The Close: None filed today to go public.

Announcements For Secondary Filings & Financings:   HR TRTX SCM KOPN MTNB KOS  common stock offering.convertible offering. issues senior notes. WLL BTAI OKTA  files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: USK +0.87, AVGO +0.32, ZUMZ +0.07, DOCU +0.06, VRAY +0.05, ULTA +0.05, ORCL +0.03, ADBE +0.03, TLYS +0.02, JBL +0.02, PVTL +0.02

Flat: MRAM

Missed: AVID (0.02), NDLS (0.01), ASNA (0.01)

Positive Guidance: 

Negative Guidance:

News After The Close:

Facebook (FB) Chief Product Officer Chris Cox leaves the company.

Vectrus Systems (VEC) wins $550 million  Army contract.

Newell Brands (NWL) announce retirement of CEO Michael Polk at the end of Q2.

IndexChanges: FOX to join the S&P 500. ADBE to join S&P 100.

Dividend Increases: ORCL EQR CL TRTN WPC

Stock Repurchase: HIIQ

Hourly Action This Past Week:

What a difference hourly action has seen since Friday 1:00 onward.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 have been climbing since after the close on Thursday. We are at the highs for the morning.

U.S. futures: S&P +12, Dow Jones +129, NDX +44 and Russell 2000 +8.40 with fair values HIGHER LESSENING GAIN. Asia  and Europe mostly higher, click through for details by country.

Gold, silver and copper higher. WTI Crude lower and Brent Oil Futures flat. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 122.70 from 122.66 with yields lower since Thursday morning with the yield at 2.63% from 2.632%. Prices as of 8:15 a.m. EST.

Top Sectors Thursday: Financials.

Weakest Sectors Thursday: Industrials, Materials and Services.

One Month Winners: Technology, Materials, Conglomerates, Utilities and Services.

Three Month Winners: Industrials, Technology, Services, Conglomerates and Financials.

Six Month Winners: Utilities and Conglomerates.

Twelve Month Winners: Utilities, Conglomerates, Healthcare and Services.

Year to Date: All higher led by Conglomerates, Industrial Goods, Technology, Services, Materials and Utilities.

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

Today After The Close: BKE NVGS.

Monday Before The Open: QD CMCM LL.

Earnings This Morning Of Note:

Beat Estimates: CTRN +0.03.

Flat: BKE

Missed Estimates: MDCA (1.73), BIOS (0.11), KIRK (0.02)

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

Top Story: 

Five Things You Need To Know Before You Start Your Day. (Bloomberg) China closes National People’s Congress. Tech earnings after the close. Bank of Japan dovish. U.K. votes to send May back to Brussels.

49 were killed in terrorist attack in New Zealand. (Bloomberg)

North Korea may not move forward with negotiations as they are perplexed by the U.S. negotiations. (NYT)

Boeing (BA) stops deliveries of the 737 Max 8. (WSJ)

Bank of Japan kept a dovish posture. (Bloomberg)

Data Points:

We are changing the comments on the various moving averages to a table.

Yesterday saw 1333 stocks rise and 1543 fall on the NYSE. NASDAQ saw 1285  rise and 1751 fall.

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 last Thursday’s close.

Courtesy of Quantitative Partners, Inc.

YTD 84% of stocks are higher and 16% are lower. Updated 3/8/19 close with next update on 3/15/19 close.

Courtesy of Phil Erlanger Research, Inc.

Trading:

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. The change from last week to this week is pretty impressive.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS: ERLA <GO>

Economic & Related:

March Empire Manufacturing is due out at 8:30 a.m. EDT and are expected to rise to 10 from 8.8

February Industrial Production is due out at 9:15 a.m. EDT and are expected to rise to 0.4% from -0.6%.

March University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 94.9 from 93.8.

Geopolitical:

The Bank of Japan (BOJ) out with its latest interest rate decision and there was no change.

President Trump heads to the Pentagon to meet with National Security officials.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: LIBE (business update call), 

Sellside Conferences: J.P. Morgan Global Markets Conference.

Industry Conferences: South by Southwest Conference. American Academy of Orthopedic Surgeons Annual Meeting. Spine Summit 2019.

M&A Activity:

Cubic (CUB) to buy Nuvotronics (private) for $64 million.

Brown & Brown (BRO) buys Medval, no terms.

Upgrades & Downgrades:

Pre-Market Movers:

Winners:KPTI +29%, CATS +14%, ASUR +11%, ADMP +10%, HTHT +7%, AVGO +6%,

Losers:KOPN -23%, ASNA -21%, HEAR -12%, MTNB -11%, ZUMZ -9%, TLYS -8%, PVTL -6%

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