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Market Matters:

Futures Higher
by Geoff Garbacz & Staff Writers

November 13, 2018

In After Hours Trading

IPOs on deck: Eton Pharmaceuticals (ETON) should open $0.50-.75 priced at $6.00.

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:.

Misses: EB (-0.67), VERI (0.18).

Flat:

Lower Guidance

Mixed Guidance:

Strong Guidance: 

What’s Happening This Morning:

U.S. futures: S&P +16 Dow Jones +130, NDX +55 and Russell 2000 +11 with fair values LOWER helping open. Asia higher and Europe higher. 

Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 118.34 with yields flat since Friday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: None.

Weak Sectors Yesterday  All led by Technology, Industrials, Consumer Goods and Services.

One Month Winners Utilities, Conglomerates and Financials.

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: CGC TLRY WIX CWK HI SWCH MTSI PETQ .

Earnings Due Wednesday Morning: M WB ESTC SINA GOOS AVYA BZUN BPMP CVIA APRN.

Rags & Mags:

Commerce Department may be drafting language on auto import tariffs. (Bloomberg) Briefing

Kellogg (K) to sell cookie and fruit snack units. Will announce at investor event today. (CNBC)

S&P downgrades Argentina to B from B+. (S&P)

IEA Production commentary shows unprecedented growth in production (IEA)

Treasury Secretary Mnuchin resumes talks with China. (CNBC)

Boeing (BA) may have withheld information on risk of 737. (WSJ)

Amazon to split second headquarters between NYC and Northern Virginia. (CNBC)

Earnings Reported This Morning:

Surprises:  BZH +0.86, HD +0.24, TSN +0.20, AAP +0.13 EPC +.04

Flat:

Misses: GDS -.06 DQ -.06 ARMK -.02

Lower Guidance: EPC   

Mixed Guidance:

Strong Guidance: HD AAP GDS   

Date Points:

Yesterday saw 777 stocks rise and 2135 fall on the NYSE. NASDAQ saw 729 rise and 2355 fall.

The SP 500 is still below its 50 day simple moving average and is now BACK BELOW its 200 day simple moving average (2762.39). 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:

NFIB Small Business Optimism Index out at 6:00 a.m. EDT and fell to 107.42 from 107.90.

Politico:

Federal Reserve Governor Lael Brainard to speak at 10:00 a.m. EDT.

Conferences & Analyst Meetings:

Analyst Meetings: ZEN BL SCOR VOYA VZ ATO K TRP OSTK SFLY      

Sellside Conferences:

Credit Suisse Annual Healthcare Conference

UBS Global Technology Conference

Needham Networking, Communication & Security Conference

Morgan Stanley Consumer & Retail Conference

Morgan Stanley Global Chemicals & Ag Conference

RBC TMT Conference

Stifel Healthcare Conference

Citi Fintech Conference

Industry Conferences:

World Economic Forum on ASEAN 2018

M&A  Activity And Credible Rumors of Note Overnight:

Catalina will not bid for Maiden (MHLD).


Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan LITE
Goldman Sachs SAIL
Morgan Stanley INFN
Deutsche Bank
Citigroup CC Merrill Lynchp
Merrill Lynch KRC BBY DEI EVER
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Deutsche Bank
Piper Jaffray SND
Jefferies MOH
Stifel
Keefe Bruyette
Raymond James
Stephens
Sun Trust RH AMDX
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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