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Market Matters:

Futures Rallying Post Elections
by Geoff Garbacz & Staff Writers

November 7, 2018

In After Hours Trading

IPOs on deck: CNF Finance Holdings (CNF)

Secondaries on deck: none of note.

Filings After The Close:  (mixed shelf)

Courtesy of http://www.ipofinancial.com

Earnings From After the Close:

Surprises: REGN +0.78, JLL +0.7, MNK +0.31, BHC +0.29, DXCM +0.27, ZBRA +0.27, COHR +0.26, XOG +0.23, GOGO +0.21, WLK +0.21, IONS +0.18, RHP +0.16, TDG +0.15, LPX +0.15, JKHY +0.14, EXPD +0.14, GLDD +0.14, AFI +0.13, MBUU +0.13, ANIP +0.12, BR +0.11, RL +0.10

Misses: SERV -0.10, BCC -0.10, BOLD -0.10, ORA -0.11, GDDY -0.11, JELD -0.12, USAC -0.12, OCN -0.15, IRWD -0.18, SUM -0.19, SAGE -0.23, AAC -0.32, EMES -0.35, GLT -0.39, ONCE -0.8, VRTV -1.02

Flat:

Lower Guidance: CHUY INFN PXD RRGB TRUE ZG

Mixed Guidance:

Strong Guidance:  ASH DXCM DIOD ETSY FIVN HALO PLNT

What’s Happening This Morning:

U.S. futures: S&P +18 Dow Jones +140, NDX +68 and Russell 2000 +4.20 with fair values LOWER helping open. Asia and Europe higher.

Gold, silver and copper higher. WTI Crude lower and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 118.08 with yields lower since Tuesday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: Industrials, Consumers Services and Technology

Weak Sectors Yesterday None of note.

One Month Winners: Conglomerates and Utilities

Three Month Winners: Utilities

Six Month Winners: Healthcare, Utilities and Services

Twelve Month Winners: Healthcare, Services and Conglomerates

Year To Date Winners: Healthcare, Services and Conglomerates

Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)

Earnings Expected After The Close: QCOM PRU MFC MNST SQ CTRP MCHP MRO IAC TTWO ANSS WYNN ALB HOLX NWSA ADT MUR HUBS

Earnings Due Tomorrow Morning: AZN BAM JCI WP LNG CAH DHI PRGO UBNT NICE DISCA COMM CHH GOOS HAIN SBH MDCO PRTY

Rags & Mags: (Click on Story to Link Through)

Trump Watched the Election Results With Adelson, Schwarzman (Bloomberg)

New York’s Next Attorney General Vows to Investigate Trump’s Dealings (Bloomberg)

Mortgage applications hit a four year low. (CNBC)

Democrats win House and GOP keeps Senate. (CNBC)

NY Times analysis of Mid Term Results (NYT)

Wall Street Journal analysis of Mid Term Results (NYT)

President Trump endorse Rep. Nancy Pelosi for Speaker of the House. (Twitter)

Earnings Reported This Morning:

Surprises: BGNE +0.44 , HUM +0.34 , MDP +0.22 , KELYA +0.18 , KORS +0.17 , CRL +0.15 , DISH +0.15 , HZNP +0.14 , GEO +0.13 , WAAS +0.11 , SRE +0.10

Flat:

Misses: DF (0.22), RCM (0.17), MNTA (0.10), SGRY (0.10)

Lower Guidance: CARS CNHI DF SMG

Mixed Guidance:

Strong Guidance: HUM ODP SO

Date Points:

Yesterday saw 1825 stocks rise and 1070 fall on the NYSE. NASDAQ saw 1880 rise and 1185 fall.

The SP 500 is now 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 in September.

YTD 40% of stocks are higher and 60% are lower. Updated 11/2/18 close with next update on 11/12/18.

Courtesy of Quantitative Partners, Inc

IMG1%

Economics:

API Petroleum out yesterday at 4;30 p.m. EDT and saw a build of 7.831 mln barrels while Gasoline drew -1.195 mln barrels.

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

$19 billion 30 Year Treasury Auction at 1:00 p.m. EDT.

Politico:

President Trump to hold a press conference around 10:30/11:00 a.m. EDT.

Democrats to control House while GOP keeps the Senate.

Conferences & Analyst Meetings:

Analyst Meetings:

INUV FBMS NCR IMO AWI BMRN

Monthly Sales Numbers:

COST

Sellside Conferences:

Baird Global Industrial Conference

Stephens Fall New York City Investment Conference

Credit Suisse Annual China Conference

Bank of America Financials Future Conference

Piper Jaffray Westcoast Bank Symposium

Industry Conferences:

NAREIT Conference

M&A  Activity And Credible Rumors of Note Overnight:

First Bancshares (FBMS) to buy FPB Financial Corp (FPBF) for

 

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan IRWD MB
Goldman Sachs EEX GSKY
Morgan Stanley PGR ABD
Deutsche Bank
Citigroup CC Merrill Lynchp
Merrill Lynch
Wachovia/Wells Fargo NTRS
Credit Suisse
Banc of America
UBS FTR
Deutsche Bank
Piper Jaffray ZION
Jefferies
Stifel
Needham
Raymond James ONCE NBL
Stephens
Sun Trust RH OAS
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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