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Apple Today - 2/24/2016 (AAPL)

seymour_greenz • February 24th 2016 11:11:53 AM

Good Morning,

NASDAQ Futures are down 49 with -51 Fair Value, S&P Futures are down 17 with -19 Fair Value and Dow Futures are down 150 as we hit mid-week and another busy economic calendar day. Futures saw green early morning but sunk after 4am and have been souring as we approach the open.

Asian markets closed mixed today. China gained 0.88%, Hong Kong closed down 1.15% and Japan lost 0.85%. European markets are down significantly. The UK is currently down 1.43%, France is down 1.99% and Germany is leading the decline, down 2.38%.

Commodities are mostly down this morning. Oil is down 3.23%, natural gas is up 0.17% and gold is up 1.37%. Unleaded gas is down 0.29% and heating oil is down 1.14%. Metals are up except copper. Meat is up. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Wall Street stumbles as oil slumps again. Fed says still a case for further rate hikes.

Dreamworks Animation SKG Inc (DWA) reported earnings yesterday afternoon with an increase in profit and revenue is up nearly 10% in pre-market. Etsy, Inc. (ETSY) also announced earnings yesterday along with strong growth and an optimistic 3-year outlook and is up over 12%. First Solar, Inc. (FSLR) is up nearly 3% after reporting a Q4 beat.

Lowe's Companies, Inc. (LOW) reported Q4 earnings meeting estimates and a revenue beat this morning but is down over 3%. Mobileye (MBLY) announced a penny beat this morning but is also down over 7%. On the other hand, Target Corporation (TGT) is up over 1% after reporting Q4 short of expectations but strong holiday sales.

This afternoon after the bell, look for earnings from Salesforce.com, inc. (CRM), Digimarc Corporation (DMRC), Green Dot Corporation (GDOT), HP Inc. (HPQ), IMAX Corporation (IMAX), La Quinta Holdings Inc. (LQ), Bankrate Inc. (RATE), Transocean Ltd. (RIG) and Sunoco LP (SUN).

Tomorrow before the bell, AMC Networks Inc. (AMCX), Best Buy Co. (BBY), Anheuser-Busch Inbev SA/NV (BUD), Campbell Soup Company (CPB), Chesapeake Utilities Corporation (CPK), Domino's Pizza, Inc. (DPZ), Iron Mountain Inc. (IRM), Kohl's Corporation (KSS), Pinnacle Foods (PF), ReWalk Robotics (RWLK) and LendingTree, Inc. (TREE), Wayfair (W) are expected to report.

AAPL got dragged 2.26% under water yesterday and bobbed around 95 for most of the day. AAPL gapped down to start the day at 96.40 on moderate volume, briefly touched 94.55 and then continued a precipitous slide towards 95 until 11am on moderate volume. AAPL spent most of the remainder of the day struggling at 95 and then dipped under into the last hour on low but increasing volume, seeing a low of 94.55 on high volume within minutes of the close. AAPL ended the day down 2.19 at 94.69. AAPL dropped 39 cents in after-hours to end at 94.3.

This morning in pre-market, AAPL dropped lower in conjunction with Futures, with a low of 93.40 at 6:50am. AAPL is currently down 89 cents at 93.8 as we approach the open.


Classic max-pain is 96.


Wall Street stumbles as oil slumps again:
http://in.reuters.com/article/usa-stocks-idINKCN0VW1N5

Global shares fall sharply with oil prices, yen in demand:
http://www.reuters.com/article/us-global-markets-idUSKCN0VX01F

Fed says still a case for further rate hikes:
http://in.reuters.com/article/us-usa-fed-lacker-idINKCN0VX1J1

FBI battles Apple over encryption, pushback from the tech industry persists:
http://www.latimes.com/business/technology/la-fi-apple-encryption-20160224-story.html

Moody's says BOJ negative rates unlikely to boost lending:
http://in.reuters.com/article/japan-economy-boj-idINL3N1632K5

Target trades profit for sales growth in holiday-season push:
http://www.bloomberg.com/news/articles/2016-02-24/target-s-holiday-sales-grow-though-promotions-weigh-on-profit

Lowe's vs Home Depot:
http://www.bloomberg.com/news/articles/2016-02-24/lowe-s-sales-top-estimates-as-home-improvement-boom-continues

Gates disputes report that he backs FBI in Apple case:
http://www.bloomberg.com/news/videos/2016-02-23/gates-disputes-report-that-he-backs-fbi-in-apple-dispute

Google's new human robot:
http://money.cnn.com/2016/02/24/technology/google-robot/

Facebook emojis arrive:
http://www.cnet.com/news/facebook-emojis-arrive-love-haha-wow-sad-angry-like/

Chesapeake to cover $500 million debt as asset sales swell:
http://www.bloomberg.com/news/articles/2016-02-24/chesapeake-asset-sales-increase-to-700-million-in-first-quarter

Starbucks changes rewards program:
http://www.csmonitor.com/Business/The-Bite/2016/0223/Starbucks-new-rewards-program-isn-t-for-the-frugal

Microsoft's new Android app puts Office 365 in the keyboard:
http://www.zdnet.com/article/microsofts-new-android-app-puts-office-365-in-the-keyboard/

Get ready for PlayStation VR on March 15th:
http://www.theverge.com/2016/2/24/11104260/playstation-vr-gdc-event-date

How much is Galaxy S7?
http://www.forbes.com/sites/amitchowdhry/2016/02/24/samsung-galaxy-s7-how-much-does-it-cost/#1c61ad1b38bc

BlackBerry buys cyber security consultancy to move deeper into services:
http://www.reuters.com/article/us-blackberry-services-idUSKCN0VX0Y3

Uber starts 1st motorbike service in Bangkok:
http://www.bloomberg.com/news/articles/2016-02-24/uber-jumpstarts-first-motorbike-service-in-gridlocked-bangkok

Spotify switching from AWS to Google Cloud:
http://www.zdnet.com/article/spotify-to-switch-from-aws-to-google-cloud/

Samsung printers can automatically re-order ink via Amazon:
http://www.pcmag.com/article2/0,2817,2499876,00.asp

Sony hackers were causing mayhem years earlier:
http://www.wired.com/2016/02/sony-hackers-causing-mayhem-years-hit-company/

Xiaomi may be coming to US:
http://www.pcworld.com/article/3036991/phones/xiaomis-barra-says-us-market-on-the-radar.html

How UL tests hoverboards:
http://www.cnet.com/au/news/new-safety-standards-might-save-hoverboards-from-extinction/

NYC loses its "Billionaire Capital of the World" crown:
http://www.cbsnews.com/news/beijing-nyc-new-york-billionaire-capital-of-the-world-crown/

Milky Way gas survey completed:
http://www.bbc.com/news/science-environment-35639899

3 days to Mars:
http://www.csmonitor.com/Science/2016/0223/3-days-to-Mars-How-laser-propulsion-could-revolutionize-space-travel

China bets big on gene-editing:
http://www.bloomberg.com/news/articles/2016-02-23/china-bets-big-on-gene-editing-technology-in-race-against-u-s

Dodo birds not so dumb:
http://news.discovery.com/animals/dodo-birds-not-so-dumb-after-all-160224.htm

Meet the 1st animal on Earth:
http://timesofindia.indiatimes.com/home/science/Sea-sponges-were-the-first-animals-on-Earth-scientists-discover/articleshow/51117687.cms

Proving Zika:
http://www.reuters.com/article/us-health-zika-microcephaly-insight-idUSKCN0VX18X

Milk & honey sounds better:
http://www.npr.org/sections/goatsandsoda/2016/02/23/467687101/can-a-bath-of-milk-and-honey-replace-female-genital-mutilation

Benefit of bacteria swabbing for newborns uncertain:
http://www.cnn.com/2016/02/23/health/vaginal-seeding-trend/

Meet the newborn baby gorilla from Bristol Zoo:
http://www.bbc.com/news/uk-england-bristol-35629649

Hold the sprouts:
http://www.cnn.com/2016/02/23/health/alfalfa-sprouts-salmonella/

And the haircut:
http://www.timesofmalta.com/articles/view/20160222/odd-news/fashion-haircut-sparks-furore.603365


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:00 Fed's Lacker: Monetary Policy
9:45 PMI Services Index Flash
10:00 New Home Sales
10:30 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $34B, 5-Year Note Auction
1:15 PM Fed's Kaplan: Monetary Policy
6:30 PM Fed's Bullard speech


Notable earnings after today's close: AAOI, AEGR, ALDW, ALJ, AMRN, AMSF, AMSG, ANIK, AR, ATNI, AVG, AWK, AWR, AXTI, BEL, CAGDF, CBD, CEMP, CHDN, CLGX, CLI, CLR, *CRM*, CSGP, CW, CWT, CXO, CYBE, DAVE, DEL, DL, *DMRC*, DOOR, DRII, DTLK, DYN, ECPG, ENTL, EPR, EQY, ETP, FARO, FLTX, FRGI, FUEL, *GDOT*, GMED, GMKYY, GXP, *HPQ*, HVT, HZNOF, IL, *IMAX*, INN, ISH, KAI, KEYW, LB, LDL, LGCY, LMAT, *LQ*, LWSCF, MDDWF, MMLP, MTDR, MYCC, MYTAY, NANX, NFX, NLY, NRX, NSPH, NTES, OAS, ORC, PE, PGH, PHH, PRAH, QEP, *RATE*, RBCN, RGR, RICE, *RIG*, RIGP, RLJ, RLYP, RSPP, SBY, SFM, SLRC, SPOK, SPTN, *SUN*, SUNS, SXL, TAL, TILE, TNDM, TOLWF, TS, TSLX, TUMI, TXTR, UVE, VIPS, WES, WGP, WLL, WPX, WR, WSR, XPO, ZPIN

And tomorrow before the open: AAON, ABEV, ABLYF, ACIW, ALKS, *AMCX*, AMWD, ANSS, APA, ATGFF, AXAHF, *BBY*, BLDP, *BUD*, CCLP, CCO, CCOI, CHS, CLDX, CM, CNSL, CORE, *CPB*, *CPK*, CRI, *DPZ*, EGRX, EME, EMES, ENOC, ESV, FCH, FCN, FIG, FOE, FUR, GASS, GLOG, GOGO, GPX, GTLS, GVA, HEES, HENKY, HMHC, HNT, HTCH, HTH, HTWR, IHRT, INCR, INGXF, IONS, IPCC, IRDM, *IRM*, ITC, ITCI, KERX, KOP, *KSS*, LBLCF, LKQ, MITL, MYE, NADL, NEWM, NGLS, NPO, NTI, NXST, PCRX, PDCO, *PF*, PWR, RAS, RDHL, RDUS, RGEN, ROIA, ROIAK, RRD, *RWLK*, SAFM, SDRNF, SEAS, SERV, SFUN, SGC, SNR, SPAR, STAR, STN, STWD, SUMR, SWX, TC, TCAP, TCP, TD, TFX, TNHPF, *TREE*, TRGP, TRS, TWI, UNT, UTHR, VAC, VALE, VC, VIV, VWR, *W*, WIN, WLH, WNR, WNRL, WPC, XCRA, XLRN, ZBRA, ZEUS

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