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Market Matters:

Futures Flat Into A New Week
by Geoff Garbacz & Staff Writers

November 12, 2018

In After Hours Trading

IPOs on deck: There are 9 IPOS scheduled for this week.

Secondaries on deck: There is one IPO scheduled for this week so far. Expect other announcements as the week progresses.

Filings After The Close:  None of note.

Courtesy of IPO Financial

Earnings From After the Close:

Surprises: ATHN +.09 OPK +.01.

Misses: GNC -.07.

Flat:

Lower Guidance

Mixed Guidance:

Strong Guidance: 

Hourly Action This Week:

image

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P -0.25 Dow Jones -18, NDX +13 and Russell 2000 +1 with fair values HIGHER helping open. Asia higher and Europe lower. 

Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.33 with yields lower since Friday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: Utilities.

Weak Sectors Yesterday  Technology, Services and Industrials.

One Month Winners Healthcare, Utilities and Technology.

Three Month Winners: Healthcare and 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: UGI YY APU YRD HUYA EXPI TDW EB VERI.

Earnings Due Tuesday Morning: HD TSN AAP ARMK CAE EYE GDS EPC DQ BZR.

Rags & Mags:

Saudis weigh having OPEC cut production by 1 million barrels in December. (CNBC)

Apple (AAPL) was the top selling phone on Alibaba (BABA) during singles day. (CNBC)

Camp Fire reaches 29 dead and 200 missing making worst fire in California history. (USA Today)

Business spending slows. (CNBC)

North Korea may be moving forward with missile production. (NYT)

Democrats could upend NAFTA in rebuke of President Trump. (NYT)

Congress to fight over The Wall and Mueller investigation. (WSJ)

Earnings Reported This Morning:

Surprises: ATHM +.03 ACM +.01

Flat:

Misses:

Lower Guidance: ACM  

Mixed Guidance:

Strong Guidance: ATHM  

Date Points:

Yesterday saw 905 stocks rise and 1990 fall on the NYSE. NASDAQ saw 782 rise and 2300 fall.

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

The latest short interest was released over the weekend. NYSE saw an increase of 0.73% to 15,438,572,245. NASDAQ saw short interest fall 0.30%.The latest collection period was from 10/15 through 10/31 on a settlement basis.

Courtesy of Phil Erlanger Research

The QPI10 Day Moving Average of breadth is invested and went there on November 8th at 2806.38.

YTD 40% of stocks are higher and 60% are lower. Updated 11/9/18 close with next update on 11/19/18.

Courtesy of Quantitative Partners, Inc

Economics:

Releases of note this week the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as CPI, Retail Sales and Industrial Production.

Politico:

The U.S. Bond Market is closed for Veterans Day.

Conferences & Analyst Meetings:

Analyst Meetings: IBM TSRO MYOK EIDX   

Sellside Conferences:

Credit Suisse Annual Healthcare Conference

JP Morgan Ultimate Services Investor Conference

UBS Global Technology Conference

Industry Conferences:

World Economic Forum on ASEAN 2018

M&A  Activity And Credible Rumors of Note Overnight:

SAP to buy Qualtrics for $8 billion in cash.

Vista Equity Partners to buy Apptio (APTI) for $38 a share in cash.

Management of China Customer Relations (CCRC) makes $16 bid for company.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan INFI
Goldman Sachs JBL
Morgan Stanley SNV CMA CFR
Deutsche Bank
Citigroup CC Merrill Lynchp MRT SCCO SWKS
Merrill Lynch AWI PHM
Wachovia/Wells Fargo LB
Credit Suisse ARD
Banc of America
UBS
Deutsche Bank
Piper Jaffray
Jefferies
Stifel PEB PHAS
Keefe Bruyette
Raymond James KERX
Stephens
Sun Trust RH OIS
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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