The Daily Briefing For September 9th: Stocks Rebound
Covid-19 Update With Latest Data From Tuesday
Total Cases 6,298,422 from 6,275,874
Recovered: 2,359,111 from 2,333,551
Deaths 181,690 from 181,328
Cases reported 22,219 from 28,628
Tests 508,706 from 586,476
Deaths 918 from 915
Hospitalizations 32,263 from 32,002
source COVID tracking project
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: ALBO ATNX TXG ARCE VRM AZEK of note.
Mixed Shelf Offerings: None of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
CASY +1.18, ABM +0.33, LULU +0.18, HQY +0.16, COUP +0.13, WORK +0.03, CVGW +0.01, PHR +0.01 of note.
None of note.
Hourly Action – Mixed action of late
News After The Close:
Qiagen (QGEN) to launch portable test detecting antigens in less than 15 minutes.
Under Armour (UAA) to layoff 600 employees.
Astra Zeneca (AZN) puts Covid-19 vaccine trial put on hold due to patient reaction.
Northop Grumman (NOC) wins $13. billion Air Force contract.
Dividend Cut: BHLB
Stock Repurchase Announcement:
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +35 Dow Jones Industrial Average +235 NASDAQ +142 Russell 2000 +15 . Fair values are higher. Asia lower and Europe higher. VIX October futures are at 38.44 from 28.83 this morning. Current VIX is at 30.75 from 26.57 .
Gold lower, silver lower 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$139.38 from $139.31 with yields at 0.679% from 0.689%.
Positive Sectors On Tuesday: None of note.
Negative Sectors On Tuesday: Technology, Consumer Cyclical and Energy of note.
One Month Winners: Industrials, Consumer Cyclical and Consumer Defensive of note.
Three Month Winners: Consumer Cyclical, Technology and Industrials of note.
Six Month Winners: Consumer Cyclical, Technology, Materials and Healthcare of note.
Twelve Month Winners: Technology, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: ZS RH DSGX FIZZ VRNT AVAV GME of note.
Thursday Morning: None of note.
Gap Up: SCOR +23% KOS +12% NNOX +9% QRVO +6% BNTX +5% CI +4%
Gap Down: WORK -17% AQTNX -9% TIF -9% AZEK -8% ARCE -6% CASY -5% LULU -5% NAV -5% SCWX -4% COUP -4%
Earnings This Morning Of Note
LOVE +0.41, GIII +0.33, HDS +0.11, REVG +0.09, SCWX +0.08 of note.
None of note.
Erlanger Research Advance/Decline Line Chart – Stocks were hit hard yesterday. Close 9/8. Note that our Advance/Decline Model went to cash on 8/24. Contact your CAPIS sales coverage if you want a trial to review.
Courtesy of Phil Erlanger Research Inc.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves. (CNBC)
Corona Virus Update: WHO stesses safety in trial and Fauci notes stopping a trial not uncommon. (CNBC)
Stock Index Trading
Current through 9/8 close. The Russell and S&P 400 Mid Cap broke their 50 day moving averages.
Bold means a change from prior day.
Erlanger Value Lines – Ranges are wide again. Update 9/8
Weekly API Petroleum Institute came out at 4:30 p.m. EDT yesterday and .
JOLTS is due out at 10:00 a.m. EDT and came in last month at 5.889 million.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Geopolitical & Related
President Trump will receive his intelligence briefing at 12:00 p.m. EDT.
Press Secretary Kayleigh McEnany holds a press briefing at 12:00 p.m. EDT as well.
U.S. Treasury to sell 10 Year Notes at 1:00 p.m. EDT.
Investor Events & Conference Calls
SCRYY (Investor Day) PRPO (Conference Call)
Sellside Conferences: Barclays CEOEnergy Power Conference (9/8-9/10) Barclays Global Consumer Staples Conference (9/8-9/10) Citi Annual BioPharma Virtual Conference (9/8-9/10) Barrington Research Annual Fall Investment Conference (9/9) UBS Chemicals Conference (9/9) Raymond James U.S. Bank Conference (9/9-9/10) Gateway Annual Conference (9/9-9/10) Baird Global Healthcare Conference (9/9-9/10) Scotiabank Financials Summit Conference (9/9-9/10) Wells Fargo Healthcare Conference (9/9-9/10) Goldman Sachs Annual Global Retail Conference (9/9-9/10) KBW Insurance Conference (9/9-9/10) Morgan Stanley Industrials CEO Unplugged Conference (9/9-9/11) Credit Suisse Global Steel & Mining Conference (9/9-9/11) Bank of America Media, Communications and Entertainment Conference (9/9-9/10)
Industry Conferences: Advanced Therapies Congress & Expo (9/8-9/11)
Upgrades & Downgrades For Wednesday 9/9 –