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Market Matters:

Futures Mixed After Lower Overnight
by Geoff Garbacz & Staff Writers

November 15, 2018

In After Hours Trading

IPOs on deck: Bain Capital Specialty Finance (BCSE), Centrexion Therapeutics (CNTX), Weidai Ltd. (WEI).

Secondaries on deck: AGNC ED EYE HSDT KREF NGHC VICI.

Filings After The Close:  CASI (secondaries) (mixed shelf) (shareolder selling) W (convertibles).

Courtesy of IPO Financial

Earnings From After the Close:

Surprises: WUBA +.20 EZPW +.12 VIPS +.11 BPMP +.05 CSCO +.03.

Misses: CPA -.10

Flat:

Lower Guidance

Mixed Guidance:

Strong Guidance: 

Filings Of Note: Appaloosa starts positions in STT WMB AAPL. Trian Fund starts new position in PPG. Soros new positions in TRCO COTY ADM. Elliott Mgmt new positions in FE NLSN CYH.

What’s Happening This Morning:

U.S. futures: S&P +9.75 Dow Jones +99, NDX +43.25 and Russell 2000 5.30 with fair values HIGHER cutting into gains. Asia higher and Europe mixed. 

Gold,silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.86 with yields higher since Tuesday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: Materials.

Weakest Sectors Yesterday: Healthcare, Conglomerates, Financials and Utillities.

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: NVDA AMAT JWN POST WSM ESL SONO SCVL .

Earnings Due Friday Morning: VIAB HP.

Rags & Mags:

Brexit deal continues to weigh on Britain as Prime Minister Theresa May sees cabinet members resign (WSJ).

Saudi Arabia charges 11 with murder of Jamal Khashoggi and seeks the death penalty for 5 (NY).

Federal Reserve Chairman Jerome Powell noted that there are risks to some slowing in 2019 during a panel discussion last night with Federal Reserve Dallas President Robert Kaplan (Bloomberg).

British Pound falls on Brexit deal and loss of confidence. (CNBC)

White House limits Trade Advisor Peter Navarro as Economic Advisor Larry Kudlow critical of Navarro’s stance on China. (CNBC)

Earnings Reported This Morning:

Surprises: CSIQ +.64 LXFT +.10 SR +.10 WMT +.06 JCP +.04

Flat:

Misses: DDS -.28 CUB -.18 TK -.11

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:

API Petroleum Data saw Crude Oil Inventories rise +8.79M barrels after the close.

October Retail Sales is due out at 8:30 a.m. EDT and is expected to rise to 0.5% from 0.1%.

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

Weekly Crude Oil Inventories and Natural Gas Inventories are due out at 10:30 a.m. EDT.

Politico:

Federal Reserve Governor Randal Quarles speaks at 10:00 a.m. EDT.

Conferences & Analyst Meetings:

Analyst Meetings: B ROK LDSR OBE SSNC SEIC BADFF NMIH PFG       

Sellside Conferences:

Credit Suisse Annual Healthcare Conference

Jefferies Global London Healthcare Conference

Buckingham Best Ideas Conference

Industry Conferences:

Three Part IDEAS COnference

M&A  Activity And Credible Rumors of Note Overnight:

None of note.


Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan ATNX
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup CC Merrill Lynchp TSE CPA
Merrill Lynch O CUBE EPRT SRC SAFE
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Deutsche Bank
Piper Jaffray
Jefferies
Stifel
Guggenheim
Raymond James VYGR SWHC
Stephens
Sun Trust RH
Bernstein
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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