The Daily Briefing For May 11th: Futures Lower

by Geoff Garbacz | 05/11/2020 11:12 AM

Rebel Yell Morning Market Report

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The Daily Briefing For May 11th: Futures Lower

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings: None  of note.

Mixed Shelf Offerings: SF ICBK XLNX BEAT NWL DBI  AKTS MRSN RUTH  PVAC   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.

Gap Ups: MYOK +72%, AMC +60%, QDEL +16%, COTY +14%, AVYA +13%, CAH +9%, ORA +9%, UNVR +9%, AN +9%, CEVA +8%, BLUE +7%

Gap Downs: ON -9.8%, XHR -7%, UAA -4.1%

Hourly Action This Past Week: Updated 5/7 Close

News After The Close (In Order)

Hormel (HRL) reopens Jennie O Turkey plant in Minnesota.

Most Bed Bath & Beyond (BBBY) stores to remain closed to the end of May.

Chuy's (CHUY) to delay 10-Q to 6/22.

Quidel (QDEL) receives Emergency Authorization from FDA for its antigen COVID-19 test.

U.S. to purchase $3 billion of meat, produce and dairy product for food kitchens.

United Airlines (UAL) decided no to move forward with $2,25 billion notes offering.

Lowers Guidance: TLYS (Q1)

Raises Guidance: 

Withdraws 2020 Guidance: 

Dividend Increase: 

Dividend Cut: SLCA 

Share Buyback Announcements: 

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

S&P 500 -26 Dow Jones Industrial Average -215 NASDAQ -62 Russell 2000 -21.24 Fair values are lower.  Asia  and Europe mixed to lower.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $138.95 from $139.30  unchanged with yields at 0.6991% from 0.70%.

Positive Sectors On Friday: Energy, Industrials, Materials and Consumer Cyclicals of note .

Negative Sectors On Friday: None of note.

One Month Winners: Materials, Conglomerates, Financials and Services of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare, Technology and Consumer Goods of note.

Year to Date: None of note.

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

Today After The Close: ET SPG AEE AMCR IFF CABO LOGI G CZR AFG of note.

Tuesday Before The Open: DUK HMC BNTX ATHM DT IR NOVT VSH CVLT FLOW of note.

Earnings This Morning Of Note

Beat:

MGLN +0.43, BLUE +0.41, ZBH +0.23, AN +0.19, ETR +0.19, CAH +0.17, AMRX +0.11, CHH +0.10, CEVA +0.06, UNVR +0.04, EBIX +0.02, ICPT +0.01  of note.

Missed:

AVYA (7.77), GOGO (0.76), CEIX (0.47), XHR (0.18), UAA (0.15), TERP (0.13), PK (0.13), MAR (0.10), COTY (0.09), ON (0.05), RDNT (0.04), CLR (0.04)  of note.

Flat:  ORA (0.00)

Still to Report:  CLF, GBDC, MYL

 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)

5 Things To Know Before The Market Opens For Monday. (CNBC)

Coronavirus update: Cheap tests in U.S., Germany on watch.

U.S. Coronavirus Map update.

IHME announces midpoint guidance of COVID-19 deaths through 8/4 to `137,184 from 134,475 deaths.

Former FDA Commissioner Scott Gottlieb says new antigen test a game changer. (CBS)

House Democrats to introduce their own $12 trillion  stimulus package. (Axios)

Several key health officials are quarantined including Dr. Anothony Fauci, CDC Director Robert Redfield and FDA Commissioner Stephen Hahn. (Politico)

11 Secret Service test positive for COVID-19 and 60 staffers self quarantined. (USA Today)

Tesla (TSLA) Model 3 sales in China fall 64%. (CNBC)

Stock Index Tracking

Current through 5/8 close.  Moving averages saw improvement yesterday.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 5/8  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 8.31% with the S&P 500 lower by -9.32% through Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 15.94% through Friday’s close.

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 5/7 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

None of note.

Geopolitical & Related

President Trump will meet with the Secretary of State at 12:30 p.m. EDT and then at 4:00 p.m. EDT hold a pres conference on testing.

$42 billion 3 Year Note auction at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  AU (Update) ENTG (Analyst/Investor Meeting)

Sellside Conferences: Credit Suisse Mexico Conference (5/11-5/14). Merrill Lynch Bank of America Transportation and Industrials Conference (5/11-5/14).

Industry Conferences: None of note.

M&A Activity

Upgrades & Downgrades 

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