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Market Matters:

Futures Lower Overnight
by Geoff Garbacz & Staff Writers

November 19, 2018

In After Hours Trading

IPOs on deck: Three due this week: Alzheon, TuanChe and Yayyo.

Secondaries on deck: Two due this week TLC TLSA.

Filings After The Close:  CDIZ VIAB (mixed shelf), CDTX RMTI AMETH HFC EYE (common stock), HFC (debt)

Courtesy of IPO Financial

Earnings From After the Close:

Surprises:.

Misses: .

Flat:

Lower Guidance

Mixed Guidance:

Strong Guidance: 

Friday After The Close News:

Lockheed (LMT) gets $282 million contract from the Navy.

Northrop Grumman (NOC) gets $424 million Air Force contract.

What’s Happening This Morning:

U.S. futures: S&P -10, Dow Jones -87, NDX -27 and Russell 2000 -7 with fair values LOWER LESSENING THE PAIN. Asia higher and Europe MIXED. 

Gold, silver and copper lower. WTI Crude higher and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 119.14 with yields higher since Friday. Prices as of 7:55 a.m. EDT.

Top Sectors Yesterday: Utilities, Healthcare, Materials and Consumer Goods.

Weak Sectors Yesterday  Services and Technology.

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:  INTU A LB NUAN URBN PSTG GH JACK BRKS BECN KLIC

Earnings Due Tuesday Morning: MDT LOW TGT ROST ADI TJX HRL BBY KSS CPB JEC NJR DY BKS.

Rags & Mags:

Nissan (NSANY) fires Chairman Carlos Ghosn over financial misconduct. (CNBC)

Apple (AAPL) falls again on production cuts to iPhone. (CNBC)

Over 1,000 remain missing from the California fires. (CNN)

President Trump stands by Saudi Prince. (NYT)

U.S. and China square off at APEC Summit and other Asian nations watch. (NYT)

Novartis (NVS) bet on cutting edge drugs to remake company. (WSJ)

Earnings Reported This Morning:

Surprises: JD +.13

Flat:

Misses: SPB -.29  

Lower Guidance: JD    

Mixed Guidance:

Strong Guidance:    

Date Points:

Yesterday saw 1519 stocks rise and 1388 fall on the NYSE. NASDAQ saw 1542 rise and 1503 fall.

The SP 500 is still below its 50 day simple moving average and 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 39% (-1) of stocks are higher and 61% (+1) are lower. Updated 11/16/18 close with next update on 11/26/18.

Courtesy of Quantitative Partners, Inc

Economics:

Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as housing starts, durable goods, existing home sales, leading indicators and Michigan Sentiment.

Politico:

Federal Reserve New York President John Williams to speak at .

Conferences & Analyst Meetings:

Analyst Meetings: AXGN GNUS BKI UMRX QURE QIWI     

Sellside Conferences:

A quite week due to Thanksgiving.

M&A  Activity And Credible Rumors of Note Overnight:

Cimarex Energy (XEC) to buy Resolute Energy (REN) for $1.6 billion which is $35 a share. Investors could also take Cimarex share and or a combination of shares/cash.


Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup CC Merrill Lynchp PCG
Merrill Lynch OHI HD ENR
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Needham CUB
Piper Jaffray
Jefferies SNH
Stifel
Guggenheim
Raymond James OHI ACBI
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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