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Market Matters:

Futures Lower Into Mid Terms
by Geoff Garbacz & Staff Writers

November 6, 2018

In After Hours Trading


IPOs on deck none of note today but four this week. Secondaries of note for today NEOS.

Filings after close none of note EVRG GPI WCG (all mixed shelf) .

data courtesy of IPO Financial Network (ipofinancial.com)

In After Hours Trading: (Looking at beats or misses +/- .10)

SURPRISES: AEL +0.99 , SOHU +0.80 , CYOU +0.59 , OUT +0.31 , SBAC +0.27 , RARE +0.25 , ITRI +0.25 , OXY +0.24 , THC +0.17 , BHF +0.17 , CRZO +0.15 , PEN +0.13 , CNA +0.13 , FN +0.11 , KMPR +0.11.

MISSED: PTCT (0.65), FOLD (0.55), BKNG (0.35), TA (0.23), ANDE (0.22), DCP (0.22), CAR (0.21), RACE (0.20), PEGI (0.15), FTDR (0.15).

Lower Guidance: ACHC AVD COHU FMC MTW MAR APTS.

Mixed Guidance: .

Positive Guidance: FN MOS PEN RNG.

What's Happening This Morning

U.S. futures: S&P -4 Dow Jones -31, NDX -15 and Russell 2000 -4.40 with fair values HIGHER hurting open. Asia higher and Europe lower.

Gold, silver and copper lower. WTI Crude lower and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 118.17 with yields lower since Friday. Prices as of 7:55 a.m. EDT.

Top Sectors Utilities, Materials, Financials and Healthcare.

Weak Sectors Conglomerates and Technology.

One month winners Utilities.

Three Month Winners Utilities and Conglomerates.

Six Month Winners Healthcare, Conglomerates, Services and Utilities.

One Year Winners Services, Healthcare and Conglomerates.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected


Earnings due after the close (by avg. trade volume): PXD DVN GDDY DXCM JKHY JAZZ DATA TWLO ETSY PRI WEN SWX AAXN PLT ZG PZZA.

Earnings due Wednesday morning: FOXA SO HUM ROK ATHM KORS DISH CRL SINA WWW SODA PFGC SBGI GRPN ODP ITG DF  

Rags & Mags: Inside Wall Street









Reported Earnings This Morning (Looking at beats or misses +/- .10)

Reported This Morning: 

SURPRISES REGN +0.78 , MNK +0.31 , BHC +0.29 , ZBRA +0.27 , WLK +0.21 , IONS +0.18 , TDG +0.15 , LPX +0.15 , AFI +0.13 , MBUU +0.13 , BR +0.11

MISSES: GLT (0.39), EMES (0.35), AAC (0.32), SAGE (0.23), SUM (0.19), OCN (0.15), JELD (0.12), USAC (0.12), ORA (0.11), SERV (0.10), BCC (0.10)

Missing: .

Lower Guidance: MLM ABC EMR BDX.

Current Morning missing: .

Mixed Guidance:  Many of note.

Positive Guidance: MNK NOVT ONDK .

Data Points


Yesterday saw 1863 stocks rise and 1037 fall on the NYSE. NASDAQ saw 1542 rise and 1544 fall.

The SP 500 is now well below its 50 day simple moving average and is below its 200 day simple moving average but has been testing this average. The Russell 2000 is below its 50 day simple moving exponential average and 200 day simple moving average.

The QPI10 Day Moving Average of breadth is in cash and went there on . The Madison Market Timing Indicator is still invested.

YTD 35% of stocks are higher and 65% are lower. Updated 10/26/18 close with next update on 11/5/18.

Economics


September Jobs Openings (JOLTS) is due out at 10:00 a.m. EDT and is expected to fall to 7,023,000 from 7,136,000.

Politico

Mid Term Elections are held for all members of the House and 33% of Senate seats along with a variety of state elections for governorships and legislative elections.

Conference & Analyst Meetings


Meetings, Conference Calls or Announcements of note, FHN NOV MRCY RST FAST.

Baird Global Industrial Conference

Stephens Fall NY Investment Conference

Credit Suisse Annual China Investment Conference

Society For Immunotherapy of Cancer Annual Conference

M&A Activity

None of note.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan AMAG CVI NVRO
Goldman Sachs KOS ED
Morgan Stanley
Deutsche Bank
Citigroup CC Merrill Lynchp SQ AU
Merrill Lynch MYL
Wachovia/Wells Fargo ENB PBFX WU
Credit Suisse
Banc of America
UBS
Deutsche Bank
Piper Jaffray
Jefferies
Stifel
Needham
Raymond James
Stephens
Sun Trust RH
Nomura
Moffet Nathanson
Robert W. Baird
Cowen
Loop Capital
MKM
Sandler O'Neil
Keefe Bruyette
Cantor Fitzgerald
CIBC
Dresnder
Nomura
HSBC Securities
Cowen
William Blair
BNP Paribas
B. Riley
Kaufman
Brean Murray
JMP Securities
Wedbush
Argus
CLSA
BB&T
ING
Roth
Janney Montgomery
Susquehanna
Think Equity
Merriman
Cantor Fitzgerlad
BMO Capital
Benchmark
Jesup & Lamont
Macquarie
Canaccord Adams
Evercore
MKM
Bernstein
CLSN
Guggenheim
Auriga
Stephens
BTIG
Global Hunter

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