morning-note

# Morning Note

Triggers on "morning note", "morning meeting", "what happened overnight", "trade idea", "morning call prep", or "daily note".

## Workflow

### Step 1: Overnight Developments

Scan for relevant events across coverage universe:

**Earnings & Guidance**
- Use macro MCP: `get_earnings_calendar(from_date, to_date)` for companies reporting in date range
- Use `get_company_overview` tool for consensus estimates and analyst data
- Earnings surprises (beat/miss on revenue, EPS, key metrics)
- Guidance changes (raised, lowered, maintained)

**News & Events**
- Use `WebSearch` / `WebFetch` for market news
- M&A announcements or rumors
- Management changes
- Product launches or regulatory decisions
- Analyst upgrades/downgrades

**Market Context**
- Use `get_sector_performance` tool for sector-level daily performance
- Use `get_stock_daily_prices` tool for pre-market and overnight price moves
- Use macro MCP: `get_economic_calendar(from_date, to_date)` for upcoming macro events
- Relevant commodity or currency moves

### Step 2: Morning Note Format

Keep it tight — a morning note should be readable in 2 minutes:

---

**[Date] Morning Note — [Analyst Name]**
**[Sector Coverage]**

**Top Call: [Headline — the one thing PMs need to hear]**
- 2-3 sentences on the key development and why it matters
- Stock impact: price target, rating reiteration/change

**Overnight/Pre-Market Developments**
- [Company A]: One-line summary of earnings/news + our take
- [Company B]: One-line summary + our take
- [Sector/Macro]: Relevant sector-wide development

**Key Events Today**
- [Time]: [Company] earnings call
- [Time]: Economic data release (expectations vs. our view)
- [Time]: Conference or investor day

**Trade Ideas** (if any)
- [Long/Short] [Company]: 1-2 sentence thesis + catalyst
- Risk: What would make this wrong

---

### Step 3: Quick Takes on Earnings

If a coverage company reported, provide a quick reaction:

| Metric | Consensus | Actual | Beat/Miss |
|--------|-----------|--------|-----------|
| Revenue | | | |
| EPS | | | |
| [Key metric] | | | |
| Guidance | | | |

**Our Take**: 2-3 sentences — is this good or bad for the stock? Does it change our thesis?

**Action**: Maintain / Upgrade / Downgrade rating? Adjust price target?

### Step 4: Output

- Save output to `$WORK_DIR/work/{task}/` (e.g. `morning_note_YYYY-MM-DD.md`)
- Markdown text for email/Slack distribution
- Keep to 1 page max — PMs and traders won't read more

## Important Notes

- Be opinionated — morning notes that just summarize news without a view are useless
- Lead with the most important thing — don't bury the headline
- "No news" is a valid morning note — say "nothing material overnight, maintaining positioning"
- Distinguish between actionable events (earnings, M&A) and noise (minor analyst notes, non-events)
- Time-stamp your takes — if you're writing at 6am, note that pre-market may change by open
- If you're wrong, own it in the next morning note — credibility matters more than being right every time