The Daily Briefing For May 5/26/20 Futures On Fire

by Geoff Garbacz | 05/26/2020 9:29 AM

Rebel Yell Morning Market Report

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The Daily Briefing For May 5/26/20 Futures On Fire

IPOs on deck: None of note.

IPOs Filed:  Warner Music Group (WMG) of note.

Secondaries Priced:None of note.

Notes Priced of note:  None of note.

Common Stock filings: PYPL (selling shareholders)  REGN  VIE  of note.

Mixed Shelf Offerings:  BXP SRDX CNP SU SWN  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 Up: EVFM +46%, ARGX +27%, NVAX +19%, DOYU +15%, ZEAL +12%.

Gap Down: LTM -40%, HTZ -36%.

Hourly Action This Past Week: Updated 5/21 Close

News After The Close (In Order)

Tyson (TSN) facility in Temperanceville, VA finds that of the 1,282 workers 257 tested positive with most asymptomatic.

Hertz (HTZ) files for bankruptcy via Chapter 11.

Novavax (NVAX) starts Phase 1 and 2 Trial of its COVID-19 vaccine.

LATAM Airlines (LTM) files for bankruptcy via Chapter 11.

White House suspends travel by Americans to Brazil due to COVID-19 outbreak there.

NBA may resume season at Disney (DIS) resort in Florida

Barron’s + on WMT HD LOW TGT DBX  and mixed on URBN KSS NFLX CLX.

Lowers Guidance: 

Raises Guidance: 

Withdraws 2020 Guidance: PLAN (2021)

Dividend Increase:

Dividend Cut or Suspended: TAP (suspends)

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 +62 Dow Jones Industrial Average +584 NASDAQ +143Russell 2000 +50.57 Fair values are mixed.  Asia and Europe higher.

Gold lower, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.92 from $139.20 with yields at from 0.654%.

Positive Sectors On Friday: Real Estate, Utilities and Technology of note.

Negative Sectors On Friday: Energy, Consumer Cyclical and Financials of note.

One Month Winners: Technology, Materials and Communication Services of note.

Three Month Winners: Technology and Healtchare of note.

Six Month Winners:  Technology, Healthcare and Consumer Cyclical of note.

Twelve Month Winners: Healthcare, Technology and Communication Services of note.

Year to Date: Technology of note.

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

Today After The Close: KEYS HEI VSAT of note.

Wednesday Before The Open: RY BMO VIPS CCL RL CPRI GOOS PLAB of note.

Earnings This Morning Of Note

Beat:

AZO +1.20, DOYU +0.35, BNS +0.09, PLAN +0.04, BAH +0.02 of note.

Missed:

AMWD (0.18), HIBB (0.12) of note.

Still to Report: 

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 To Start Your Tuesday. (CNBC)

Coronavirus update: Merck joins vaccine race.

U.S. Coronavirus Map update.

IHME raises mid point guidance for U.S. COVID-19 deaths through August 4th to 147,040 from 137,184 deaths on May 18th.

Coronavirus cases and deaths are flat to declining in most states. (NYT)

White House National Security Advisor Robert O’Brien says national security law on Hong Kong from China could cause U.S. to reconsider trading status with Hong Kong. (NBC)

Chinese President Xi notes the country will not return to a planned economy. (Bloomberg)

Oxford Trial with Astra Zeneca (AZN) has 50% chance of success. (Telegraph)

Apple Mobility shows car traffic up 25% over 1/13/20 with public transportation down 67%. (Apple Mobility)

CNBC Interview with former FDA Commissioner Scott Gottlieb notes Americans need to shrink social circles and mortality rate is 0.5% to 1.0%. (CNBC)

RV Dealerships seeing increased demand. Positive for Thor Industries (THOR). (Bloomberg)

NYSE to reopen the floor. (CNBC)

Stock Index Tracking

Current through 5/22 close.  

Bold means a change from prior day.

The advance/decline line model moved to cash on 5/15 and remains therefor now. Updated through 5/22  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.25% with the S&P 500 lower by -11.36% through Friday 5/15. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy gained 12.89% 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 5/22 close. EVL Ranges remain above normal and are highlighted in blue had started to drop but the action the last couple of days ended that possibility.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

April New Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 485,000 from 627,000.

May Consumer Confidence is due out also at 10:00 a.m. EDT and is expected to rise to 88.5 from 86.9.

Weekly API Petroleum Data is due out at 4:30 p.m. EDT.

Geopolitical & Related

President Trump will participate in swearing in the third Director of National Intelligence in the Trump first term. Press Secretary Kayleigh McEnany holds a presser at 2:00 p.m. EDT. At 3:00 p.m. EDT the president meets with the Secretary of State. Finally, at 4:00 p.m. EDT the president makes comments about protecting seniors with diabetes.

$44 billion of 2 year notes are auctioned at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:   (Update) EVER MLSS (webcast)

Sellside Conferences: Cowen & Co Technology, Media and Telecom Annual Conference (5/26-5/29). KeyBanc Capital Markets Industrials and Basic Materials Conference (5/26-5/29).  Deutsche Bank dbAccess Global Financials Services Investor Conference (5/26-5/27). Chardan Annual Genetic Medicine and Therapy Conference (5/26). Oppenheimer MedTech Day Conference (5/26-5/27).  Benchmark Minerals Virtual Elecrtic Vehicle Supply Chain Festival 2020 (5/26-5/29).

Industry Conferences:

M&A

Upgrades & Downgrades:

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