Superstock Investor
Morning Briefing

Wednesday, January 29, 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 Tuesday's close.

The charts will be updated by the open.

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 10.61 from 31.44. Above 0 is good and below 0 is bad. The current action is now positive to mixed as it bounced off zero yesterday.

Third, the Erlanger Crossover Spread (EC) Spread is at -13.77 from 14.68 which moves to negative.

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

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% which is appropriate for the topping action here.

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Market Matters:

Futures Up For A Second Day In A Row

IPOs on deck:  None of note.

IPOs Filed:  None of note.

Secondaries Priced:  DNLI BHVN of note.

Notes Priced: None of note.

Common Stock filings:  CERS ESTA BHVN of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: LYV of note.

Senior Notes Filed:  PTC of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

NVR +5.41, AAPL +0.45, MSTR +0.35, UMBF +0.19, MKSI +0.13, MINI +0.10, BXP +0.07, MRCY +0.06, XLNX +0.06, RXN +0.06, ALK +0.05, EBAY +0.05, OSIS +0.04, MTSI +0.04, CMRE +0.04, SYK +0.03, CNI +0.03, SBUX +0.03, AMD +0.02, EQR +0.02, MXIM +0.02, PFG +0.02, FHB +0.01, SKY +0.01  of note.

Missed:

CHRW (0.23), RGA (0.23), WRB (0.10), FCF (0.01) of note.

Flat:

SLGN +0.00, TRMK +0.00

News After The Close (In Order of Time)

Match Group (MTCH) CEO Mandy Ginsberg steps down for personal reasons.

Apple (AAPL) has shut down one store in China and cut employee travel to China for the time being.

Stock Repurchase Announcements: TRMK POL SC(Dutch Auction)  of note.

Dividend Increases:  ALK  MINI (declares for first time) FHN EBAY TRMK ROL IBKC FCF FFWM of note.

Gap Higher: MTSI +13%, MSTR +6%, MINI +5%, MXIM +5%

Gap Lower: BHVN -10%, CHRW -8%, XLNX -8%, EBAY -5%, CERS -5%, DNLI -4%, AMD -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 +18 Dow Jones Industrial Average +132  NASDAQ +72 Russell 2000 +13.86. Fair values are lower. Asia mostly lower and Europe  mixed

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.72 from $130.78 with yields at 1.63% from 1.60%.  Prices as of 8:45 a.m. EDT.

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

Negative Sectors On Tuesday: None of note.

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

Three Month Winners: Healthcare, Consumer Goods and Technology.

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

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

Year to Date: Conglomerates, Utilities, Technology, Consumer Goods and Industrial Goods.

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

Today After The Close:  

MSFT FB PYPL TSLA MDLZ NOW LVS ILMN LRCX ADP AMP ALGN ESS MAA HOLX QRVO VAR of note.

Thursday Before The Open:

 KO LLY DHR TMO MO UPS NOC RTN EPD MMC SHW BIIB DD TFX BX ROP VLO XEL WEC PH  ALXNof note.

Earnings This Morning Of Note

Beat:

EVR +0.37, PB +0.22, TROW +0.10, SMG +0.09, ADP +0.08, TEL +0.07, CVLT +0.07, GD +0.07, EAT +0.06, SC +0.06, DOW +0.05, NVS +0.05, ANTM +0.05, AVY +0.04, RES +0.04, TXT +0.03, DT +0.03, GE +0.03, GLW +0.02, LFUS +0.02, FCFS +0.02, NDAQ +0.02, NYCB +0.01, UBSI +0.01, T +0.01, MKTX +0.01 of note.

Flat:

EXTR +0.00, MCD +0.00, ROK +0.00

Missed:   

MPLX (1.19), BA (0.50), MPC (0.17), HES (0.12), OSK (0.06), SLAB (0.05), SXC (0.05), IVZ (0.02), IR (0.02), ROL (0.01), SWK (0.01)  of note.

Still To Report:  CP, GIB, KNX, MA, NSC, PGR, SNDR, SILC, SPR

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)

Five Things To Know Before Market Opens Wednesday. (CNBC)

Impeachment proceedings begin cross examination today. (NYT)

Coronavirus update sees cases rise to over 6,000, surpassing SARS. (CNBC)

WHO to hold a press conference on Coronoavirus at 11:00 a.m. EDT. (Bloomberg)

Collateral damage from the air strike in Iraq rises to 50 brain injuries, from Pentagon. (NYT)

L Brands CEO Leslie Wexner to step aside and push for strategic alternatives at Vicotria’s Secret. (CNBC)

Boeing (BA) has first annual loss since 1997, with quarterly loss of $2.33. (CNBC)

Stock Index Tracking

All  stock indexes in trouble. Current through 1/28 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.

Weekly MBA Mortgage Applications rose 7.2% week over week.

December Pending Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 1.0% from 1.20%.

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

Geopolitical:      

President Trump will sign the USMCA Trade Agreement at 11:00 a.m. EDT. No other scheduled events.

The latest Federal Reserve Open Market Committee (FOMC) announcement is due out at 2:00 p.m. EDT followed by a press conference at 2:30 p.m. EDT. No change is expected. 

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: OVV (Webcast) KMI TRHC (Analyst Meeting) GS (Investor Day)

Sellside Conferences: Credit Suisse Latin America Investment Conference (1/28-1/29). CIBC Annual Western Instiutional Investor Conference (1/28-1/31).

Industry Conferences: Association for Research in Otolaryngology43rd Annual MidWinter meeting (1/25-1/29). DesignCon 2020 (1/28-1/30).

M&A Activity

Upgrades & Downgrades

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Today's Superstock Investor Stock Scorecard:

Boeing Company (BA)
by Superstock Investor


 

Boeing (BA) reported a loss of $2.33 much worse than estimates. It was the first quarterly loss since 1997. Yet the stock is up 1% on the bad news. Is there value at Tuesday's close of $316.58?

Company Information

Company: Boeing Company
Sector: Capital Goods
Industry: Aerospace & Defense
Market Cap:  $199,702,598,200

Targets

  Price %Gain  
Current Price $373.43    
Price Target $354.76 -5.3%  
Upper Bound $443.45 18.8%  
Lower Bound $301.54 -19.3%  

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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