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Apple Today - 4/11/2016 OPEX (AAPL)

seymour_greenz • April 11th 2016 09:29:00 AM

Good Morning,

Welcome back. NASDAQ Futures are up 18 with +18 Fair Value, S&P Futures are up 7 with +7 Fair Value and Dow Futures are up 56 on this relatively quiet day as we kick off a new earnings season and are 1 week away from tax return filing. Futures were in the red earlier but took a huge turn for the better after 3:40am and are now up strong and near the highs as we await the open.

Asian markets were mostly up. China gained 1.64%, Hong Kong gained 0.36% and Japan declined 0.44%. European markets are also mostly up today. The UK is currently near flat (down 0.01%), France is up 0.63% and Germany is leading the advance, up 1%.

Commodities are mixed this morning. Oil is down 0.58%, natural gas is down 3.17% and gold is up 0.48%. Unleaded gas is down 0.08% and heating oil is down 0.67%. Metals are up except copper. Meat is up. Cocoa, coffee, cotton and soybeans are up while corn and wheat are down.

Wall Street set to open higher as earnings season begins. Puerto Rico unveils new proposal to restructure debt. EU Commission says progress with Greece, reform talks ongoing.

Protective Life Corporation (PL) reported Q3 earnings that beat expectations and has yet to react.

This afternoon after the bell, look out for earnings from Alcoa, Inc. (AA) and Bank of the Ozarks (OZRK).

Tomorrow morning, Fastenal Company (FAST) and Perry Ellis International Inc. (PERY) are expected to report.

AAPL had a tough week, dropping 1.21% on relatively light volume. On Monday, AAPL blasted up over 112 early on and arced down to 111 by eod. On Tuesday, AAPL took a yo-yo dive below 110. AAPL responded on Wednesday by revving the engines late in the day back towards 111. On Thursday, AAPL got a hard smack down to the mid-108 area. On Friday, AAPL gained 0.11% on light volume. AAPL opened at 108.94 to moderate volume and quickly flew up to the mid-109 area, peaking at 109.77 at 10:50am on moderately low volume. After that, AAPL began a low volume descent to the mid-108 area where it hovered for most of the afternoon and touched down on the OPEX heli-pad with a 12 cents gain at 108.66. AAPL dropped an additional 9 cents in after-hours to 108.57.

This morning in premarket, AAPL opened up in conjunction with rejuvinated Futures and spent most of the morning in the low-109 area with a peak of 109.39 at 5:32am. AAPL is currently up 51 cents at 109.17 as we approach the open.


Classic max-pain is 100.


Wall Street set to open higher as earnings season begins:
http://www.reuters.com/article/us-usa-stocks-idUSKCN0X816I

Puerto Rico unveils new proposal to restructure debt:
http://www.nytimes.com/aponline/2016/04/11/world/americas/ap-cb-puerto-rico-economic-crisis.html

EU Commission says progress with Greece, reform talks ongoing:
http://in.reuters.com/article/eurozone-greece-review-idINL5N17E22B

Canadian Pacific gives up on attempts to buy Norfolk Southern:
http://www.reuters.com/article/us-norfolk-southern-m-a-cp-idUSKCN0X819C

Stamp prices went down as pig spotted flying:
http://denver.cbslocal.com/2016/04/10/u-s-postal-service-stamp-price-reduction/

Are IRS extension more risky?
http://www.forbes.com/sites/robertwood/2016/04/11/is-irs-extension-like-giving-burglars-an-extension-of-time-before-calling-police/#2bf62df230ba

Could Daily Mail parent save Yahoo and Marissa?
http://www.reuters.com/article/us-yahoo-m-a-dailymail-idUSKCN0X70XQ

2016 Apple Watch upgrade:
http://appleinsider.com/articles/16/04/11/2016-apple-watch-will-be-internal-s-upgrade-major-design-changes-to-wait-until-2017-insider-says

Blackberry keeps trying:
http://www.bbc.com/news/technology-36015071

The IoT is coming...
http://www.forbes.com/sites/georgedeeb/2016/04/10/the-internet-of-things-is-coming-hang-on-to-your-hats/#520ff7e15119

Is anyone buying new tablets?
http://www.cnet.com/au/news/tablet-market-2016/

Overstock CEO and Bitcoin messiah Patrick Byrne takes medical leave:
http://www.wired.com/2016/04/overstock-ceo-bitcoin-messiah-patrick-byrne-takes-medical-leave-absence/

Ford's autonomous car has "night goggles":
http://www.zdnet.com/article/fords-autonomous-car-takes-the-fear-out-of-driving-in-the-dark/


Today's Economic Calendar:
11:00 4-Week Bill Announcement
11:30 3-Month Bill Auction
11:30 6-Month Bill Auction
1:00 PM Rob Kaplan Speaks


Notable earnings after today's close: *AA*, AVAL, FENX, JRJC, LVMHF, *OZRK*, SENR

And tomorrow before the open: ASOMF, *FAST*, NNOCF, *PERY*, STAF

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