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Apple Today - 3/23/2016 (AAPL)

seymour_greenz • March 23rd 2016 09:28:18 AM

Good Morning,

NASDAQ Futures are flat with +8 Fair Value, S&P Futures are flat with +2 Fair Value and Dow Futures are down 7. Futures were down earlier, hitting a low at 1:30am and began to see recovery in the green near 4am and have hovered near even for the rest of the morning as we await the open.

Asian markets closed mixed today. China ended up 0.35%, Hong Kong lost 0.25% while Japan dropped 0.28%. European markets are up today. The UK is currently up 0.09%, France is up 0.48% and Germany is leading the advance, up 0.96%.

Commodities are mixed this morning. Oil is down 0.65%, natural gas is up 1.45% and gold is down 1.5%. Unleaded gas is up 0.16% and heating oil is down 0.9%. Metals are down. Meat is mixed. Coffee, cocoa, cotton, corn, wheat and soybeans are all down.

Market set to open flat as investors keep off risk. 1 arrest in Brussels attack investigation. European markets recover from Brussels-driven losses.

Not much in the way of positive earnings reactions to report. Krispy Kreme Doughnuts, Inc. (KKD) is down nearly 8% in pre-market after announcing Q4 earnings yesterday with mixed earnings and lower than expected guidance. Nike Inc. (NKE) reported Q3 earnings yesterday beating estimates and is curiously down over 5%. Red Hat, Inc. (RHT) announced a Q4 earnings beat with mixed guidance and is down over 2.5%. Cintas (CTAS) reported a Q3 revenue and earnings beat.

General Mills, Inc. (GIS) is down nearly 1.5% after announcing Q3 earnings beating profit estimates but missing on sales.

This afternoon after the bell, look for earnings from KB Home (KBH).

Tomorrow, Accenture plc (ACN), Scholastic Corporation (SCHL) and Winnebago Industries, Inc. (WGO) are expected to report.

The AAPL "gears were turning" yesterday following the product event and AAPL closed up 0.76% on below average volume. Additionally, the Apple FBI encryption case has been delayed, perhaps indefinitely. AAPL opened at lower at 105.25 on moderate volume and pedaled quickly up the hill, breezing by 105 and 106 on the way on higher volume to get to 107 less than an hour later. AAPL hit a peak of 107.29 at 10:40am on moderate volume and coasted down a little towards the upper-106 area on lower volume in early afternoon. AAPL picked up again later in the afternoon crossing 107 again on light volume before ending up in the upper-106 area. AAPL ended intra-day trading up 81 cents at 106.72. In after-hours AAPL dipped below the close but saw a huge rogue spike just below 109 on relatively high volume before ending down 17 cents at 106.55.

This morning in premarket, AAPL picked up where yesterday's intra-day session left off and hovered around in a fairly narrow range in the upper-106 area with an eye towards 107. AAPL is currently up 1 cent at 106.73 as we approach the open.


Classic max-pain is 104.


Market set to open flat as investors keep off risk:
http://www.reuters.com/article/us-usa-stocks-idUSKCN0WP1AI

1 arrest in Brussels attack investigation:
http://www.cnn.com/2016/03/23/europe/brussels-investigation/

European markets recover from Brussels-driven losses:
http://in.reuters.com/article/global-markets-europe-idINKCN0WP14O

Puerto Rico fights for chapter 9 bankruptcy in Supreme Court:
http://www.nytimes.com/2016/03/23/business/dealbook/puerto-rico-fights-for-chapter-9-bankruptcy-in-supreme-court.html

Credit Suisse CEO "blindsided":
http://www.bloomberg.com/news/articles/2016-03-23/credit-suisse-ceo-blindsided-as-bank-added-to-risky-positions

Nike's forecast concerns:
http://www.bloomberg.com/news/articles/2016-03-22/nike-s-sales-miss-estimates-after-currency-weighs-on-results

General Mills profit results:
http://www.reuters.com/article/us-general-mills-results-idUSKCN0WP1BK

Report indicates danger of some laminate wood flooring underestimated:
http://www.cnn.com/2016/03/22/health/health-effect-laminate-wood-flooring/index.html

In era of cheap oil, Saudi loses shine for foreign workers:
http://www.reuters.com/article/us-saudi-workers-foreign-idUSKCN0WP15U

Did Apple just win round 1 vs the FBI?
http://fortune.com/2016/03/23/apple-fbi-qa/

When and where to buy the iPhone SE:
http://www.cnet.com/how-to/how-and-where-to-buy-the-iphone-se/

The new iPad lineup:
http://www.cnet.com/news/what-is-the-new-ipad-lineup/

Can you use iPad Pro as your main work computer?
http://www.computerworld.com/article/3046467/mobile-wireless/why-the-ipad-pro-may-or-may-not-work-at-work.html

Facebook drops BlackBerry support:
http://www.zdnet.com/article/now-facebook-drops-support-for-blackberry/


Today's Economic Calendar:
7:00 MBA Mortgage Applications
10:00 New Home Sales
10:30 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction


Notable earnings after today's close: FTEK, AXU, BAA, CAPC, CELP, DSCO, EGO, FUL, ICTV, IMMY, *KBH*, KLDX, NFYEF, ONP, OXM, PVH, REED, RESN, ROSG, SIGM, SPKE, SPWH, STEM, STEMD

And tomorrow before the open: DIRI, PIRS, *ACN*, AGI, AMTX, BXC, CMC, DQ, EXLLF, FINL, HPJ, MTBC, *SCHL*, SIG, *WGO*

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