Superstock Investor
Morning Briefing

Wednesday, January 15, 2020

Morning Matters:

Weekly Timing Chart Of The S&P 500

We are updating our look at the S&P 500 via our favorite chart of SPY through Monday's close.

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price still above the channel. As such, bias remains positive from pullback.

[Image 1]

Second, the Erlanger Volume Swing (EVS) is at 28.05 from 18.66. Above 0 is good and below 0 is bad. The current action is now positive.

Third, the Erlanger Crossover Spread (EC) Spread is at 7.97 from 6.35 which remains strong.

Last,the Erlanger Trend Direction (ETD) moves from pullback back to uptrend.

So what is an investor to do here? We would recommend to stay with strong stocks and start to trim the biggest winners that will see selling if any pullback begins now that we are in 2020.

Positioning in our Morning Matters Portfolio off this chart and several other indicators find cash is at 33% but we will add more in the next couple of weeks to bring to 16%.

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Market Matters:

Futures +3 on S&P 500


IPOs on deck:  None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced: None of note.

Common Stock filings:  None of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: None  of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

WAFD +0.25, OGI +0.01 of note.

Missed:

 None of note.

News After The Close (In Order of Time)

Integra (IART) lowers Q4 and 2020 guidance, issues stock buyback.

Express (EXPR) lays off 10% of workforce.

VEREIT( VER) closes on office partnership on three office assets.

Nektar Therapeutics (NKTR) drops 11% on FDA Advisory Committee failing to support oxyxodegol gel use.

Beyond Meat (BYND) expands relationship with supplier Rocquette.

Stock Repurchase Announcements:  IART of note.

Dividend Increase: GAIN KALU of note.

Dividend Cuts: CLB

Gap Higher: FLNT +55%, OGI +27%

Gap Lower: NKTR -14%, TGT -8%, BYND -4%

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

S&P 500 +3 Dow Jones Industrial Average +3  NASDAQ +17 Russell 2000 -1.74. Fair values are mixed. Asia lower and Europe higher to mixed.

Gold and silver higher with copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.31 from $129  with yields at 1.793% from 1.842%. Prices as of 8:15 a.m. EDT.

Positive Sectors On Tuesday: Consumer Goods, Industrials and Technology of note.

Negative Sectors On Tuesday: Healthcare of note.

One Month Winners: Technology, Conglomerates, Consumer Goods and Services.

Three Month Winners: Healthcare, Consumer Goods and Technology.

Six Month Winners: Consumer Goods, Healthcare, Technology, Industrials and Financials.

Twelve Month Winners: Consumer Goods,Technology, Industrials and Services.

Year to Date:  Technology,Conglomerates, Industrials, Consumer Goods and Services.

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

Today After The Close:  

KMI HWC AA EGBN  of note.

Thursday Before The Open:

TSM MS SCHW BK PPG SBNY PACW WINS HOMB IIIN of note.

Earnings This Morning Of Note

Beat:

BLK +0.92, UNH +0.15, PNC +0.06, USB +0.06, BAC +0.05 of note.

Missed:   

GS (0.87) of note.

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

Top News Story:  

Stocks making the biggest moves. (CNBC)

5 Things To Know To Start Your Day. (Bloomberg)

U.K., France and Germany accuse Iran of breaking 2015 nuclear deal and may restart sanctions. (NY Times)

House to vote to send impeachment sanctions to the Senate today. (NY Times)

President Trump critical of Apple refusing to unlock the phone of the criminals. (Twitter)

President Trump may seek to block additional sales by Huawei. (Reuters)

Summary of Democratic Debate.  (Transcript)

Wine consumption drops for the first time in 25 years. (CNN)

Target (TGT) missed on holiday sales below expectations.

Allegiant Travel (ALGT) sees December traffic up 19.6% year over year.

Stock Index Tracking

All  stock indexes have improved recent weakness. Current through 1/14 close.

Bold means a change from prior day.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

The latest API Petroleum Institute Data is due out at 4:30 p.m. EDT.

January Empire Manufacturing is due out at 8:30 a.m. EDT and is expected to fall to 2.8 from 3.5.

December PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from -0.2%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Geopolitical:      

President Trump will greet the Chinese Vice Premier at 11:15 a.m. EDT and the participate in the signing of Phase One U.S. China Trade Deal at 11:30 a.m. EDT and then host a lunch meeting.

U.S. & China Phase One Deal Signing at The White House around 11:00 a.m. EDT.

Federal Reserve Philadelphia President Patrick Harker to speak at 11:00 a.m. EDT.

Federal Reserve Dallas President Robert Kaplan to speak at 12:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  INSW WPP  (investor meeting) 

Sellside Conferences: Commerzbank German Investment Seminar (1/13/2020-1/15-2020). UBS Midstream, MLP & Utilities One on One Conference (1/13/20-1/15/20). UBS Greater China Conference (1/13/2020-1/15/2020).  JP Morgan Annual Healthcare Conference (1/13/2020-1/16/2020). Santander Annual LatAm Conference (1/14-1/17). Needham Annual Growth Conference (1/14-1/15).

Industry Conferences: Advanced Automotive Battery Conference Europe 2020 (1/12/20-1/16/2020). American Association for Cancer Research Special Conference on Advances in Liquid Biopsies (1/13/2020-1/16/2020). ICR Xchange Conference 2020 (1/13/2020-1/15/2020). EBD Group Biotech Showcase 2020 (1/13/2020-1/15/2020).

M&A Activity

Heska (HSKA) to buy Scil from Covetrus (CVTS) for $125 million.

Upgrades & Downgrades

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Today's Superstock Investor Stock Scorecard:

Target Corporation (TGT)
by Superstock Investor


 

Target missed on expectations for holiday sales. The price closed at $125.26. It is down -7.5%. The open should be around $116. Is there value here?

Company Information

Company: Target Corporation
Sector: Retailing
Industry: General Merchandise
Market Cap:  $46,649,750,000

Targets

  Price %Gain  
Current Price $78.46    
Price Target $90.23 13.0%  
Upper Bound $112.79 43.8%  
Lower Bound $76.69 -2.3%  

Stock data last updated 03/19/2019.

Data provided by QPI, Inc. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. QPI, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing this page, you agree not to redistribute the information found herein.

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