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Market Matters:

Futures Mixed After Lower Overnight
by Geoff Garbacz & Staff Writers

November 14, 2018

In After Hours Trading

IPOs on deck: Vapotherm (VAPO) price range 14-16,

Secondaries on deck: CDAY.

Filings After The Close:  NXRT NGHC ED CDNA (secondaries) NGS (mixed shelf) LAUR (shareolder selling).

Courtesy of IPO Financial

Earnings From After the Close:

Surprises: REZI +2.27 , BZH +0.86 , CDLX +0.38 , CWK +0.27 , HD +0.24 , TSN +0.20 , PETQ +0.20 , WIX +0.14 , AAP +0.13.

Misses SVMK -0.62.

Flat:

Lower Guidance

Mixed Guidance:

Strong Guidance: 

What’s Happening This Morning:

U.S. futures: S&P -3.50 Dow Jones -25, NDX -25 and Russell 2000 -0,60 with fair values LOWER helping open. Asia and Europe lower. 

Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is flat vs Euro, flat vs. Pound and flat vs. Yen. US 10 year Treasury price 118.53 with yields higher since Tuesday. Prices as of 7:15 a.m. EDT.

Top Sectors Yesterday: Financials, Technology and Industrials.

Weak Sectors Yesterday: Materials, Healthcare and Consumer Goods.

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: CSCO NTES NTAP ZTO WPM ZIPS ORIG EZPW SFS.

Earnings Due Thursday Morning: WMT WUBA BERY SR ENR BRC CUB DDS SPH LXFT MANU CSIQ TK SFUN JCP TNK.

Rags & Mags:

DOJ and SEC subpoena Snap (SNAP) over IPO disclosures, (Reuters)

Pfizer (PFE) loses drug patent case in U.K. (Reuters)

President Trump holds off on auto tariffs against Europe, for now. (Bloomberg)

British Cabinet to meet over Brexit deal. (NY Times)

Camp Fire death toll reach 48 with hundreds still missing. (USA Today)

Trump considers cabinet changes with Chief of Staff Gen. John Kelly to leave. (WSJ)

U.S. Steel (X) cuts a four year deal with steel workers. (AP)

Earnings Reported This Morning:

Surprises:  

Flat:

Misses:  

Lower Guidance:    

Mixed Guidance:

Strong Guidance:   

Date Points:

Yesterday saw 1429 stocks rise and 1444 fall on the NYSE. NASDAQ saw 1539 rise and 1491 fall.

The SP 500 is still below its 50 day simple moving average and remains 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 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 and Phil Erlanger Research, Inc.

Economics:

Weekly Mortgage Applications fell -3.2%.

October CPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from 0.1%.

API Oil Storage will be released at 4:30 p.m. EDT.

Weekly Crude Oil Inventories are normally due out at 10:30 a.m. EDT on Wednesdays but due to Veteran’s Day on Monday it will be out on Thursday.

Politico:

Federal Reserve Board of Governor President Randal Quarles will speak at 10:00 a.m. EDT.

Federal Reserve Chairman Jerome Powell to speak on a panel at 5:00 p.m. EDT.

Conferences & Analyst Meetings:

Analyst Meetings: PUK MMM BBT WEX OI NOVN ATRO OPTT AVID Liberty Media Cos PRGX QRTEA QRTEB UBSH SSTI       

Sellside Conferences:

Credit Suisse Annual Healthcare Conference

RBC TMT Conference

Stifel Healthcare Conference

Barclays Global Automotive Conference

Jefferies Global London Healthcare Conference

Goldman Sachs Natural Resource Conference

Bank of America Merrill Lynch Global Energy Conference

Industry Conferences:

World Economic Forum on ASEAN 2018

M&A  Activity And Credible Rumors of Note Overnight:

SIVB Financial (SIVB) to buy Leerink Holdings for $280 million.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs    
Morgan Stanley AMTD  
Deutsche Bank    
Citigroup CC Merrill Lynchp    
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America    
UBS    
Deutsche Bank    
Piper Jaffray    
Jefferies    
Stifel    
Guggenheim   AAPL
Raymond James  
Stephens    
Sun Trust RH    
Bernstein BLUE CAG
Moffet Nathanson    
Robert W. Baird ARMK  
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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