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Market Matters:

Futures In Trouble This Morning As Google & Amazon Give Poor Guidance
by Geoff Garbacz & Staff Writers

October 26, 2018

In After Hours Trading

IPOs on deck Gamida Cell (GMDA). Secondaries of note LOVE TLSA VLRX.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: 

SURPRISES:  AMZN +2.66 GOOGL +2.65 DECK +.68 SIVB +.62 JEF +.47 NTGR +.29 INTC +.25 UHS +.22 GILD +.21 BMRN +.19 CMG +.14 COLM +.13 ELLI +.10. (LOOKING ABOVE +.10)

MISSED: MHK-.29 SGEN -.21 CPT -.19 SAM -.12 LPLA -.05 BGG -.04.

Lower Guidance: AMZN GILD FSLR ELLI .

Mixed Guidance: .

Positive Guidance: LOGM .

What's Happening This Morning

U.S. futures: S&P -33 Dow Jones -241, NDX -150 and Russell 2000 -15 with fair values HIGHER hurting open. Asia  and Europe lower.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 118.98 with yields higher since yesterday. Prices as of 8:15 a.m. EDT.

Top Sectors All Sectors but Utilities.

Weak Sectors Utilities.

One month winners Utilities and Conglomerates.

Three Month Winners Utilities and Healthcare.

Six Month Winners Healthcare, Conglomerates, Services and Utilities.

One Year Winners Services, Healthcare and Materials.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected

Earnings due after the close (by avg. trade volume): none of note.

Earnings due Monday morning: FDC ESS YNDX ON AMG DAN TSEM BLMN CTB.

Rags & Mags: Inside Wall Street

Q3 GDP came in at 3.5% an futures improved by almost 100 points on the Dow. (SSI)

Stock market correction unlikely to stop the Federal Reserve. (CNBC)

Mellanox (MLNX) puts itself up for sale. (CNBC)

Reported Earnings This Morning

Reported This Morning: 

SURPRISES CHTR +1.01 PSX +.64 LPNT +.25 PSXP +.21 ROP +.15 TEN +.13 AON +.09.

MISSES: ALIV -.18 WY -.09 MCO -.09 GBX -.09 GT -.06 COG -.02 R -.01.

Missing: .

Lower Guidance: MCO.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: R GBX.

Data Points

Yesterday saw 2134 stocks rise and 799 fall on the NYSE. NASDAQ saw 2172 rise and 894 fall.

The SP 500 is now well below its 50 day exponential moving average and is now below its 200 day exponential moving average. The Russell 2000 is below its 50 day moving exponential average and 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 41% of stocks are higher and 59% are lower. Updated 10/19/18 close.


Q3 GDP out at 8:30 a.m. EDT and came in at 3.5% versus consensus of 3.3%.

October Michigan Sentiment is due out at 10:00 a.m. EDT and is expected to remain at 99.


Federal Reserve Cleveland President Loretta Mester was interviewed on CNBC this morning.

Federal Reserve Dallas President Rob Kaplan was interviewed on Bloomberg this morning.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, AGN .

Conference of Note

American Academy of Opthamology.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup CC Merrill Lynchp
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Deutsche Bank
Piper Jaffray
Raymond James
Loop Capital
Moffet Nathanson
Robert W. Baird
Sun Trust RH
Sandler O'Neil
Keefe Bruyette
Cantor Fitzgerald
HSBC Securities
William Blair
BNP Paribas
B. Riley
Brean Murray
JMP Securities
Janney Montgomery
Think Equity
Cantor Fitzgerlad
BMO Capital
Jesup & Lamont
Canaccord Adams
Global Hunter

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