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Apple Today - 4/18/2016 (AAPL)

seymour_greenz • April 18th 2016 09:31:06 AM

Good Morning,

NASDAQ Futures are down 18 with -14 Fair Value, S&P Futures are down 9 with -8 Fair Value and Dow Futures are down 63 as we start off another busy earnings week and many scramble to make the US tax filing deadline. Futures were further down early this morning and saw a 3am turnaround to nearly even by 6am but have since given back some recovery as we await the open.

Asian markets closed lower today. China dropped 1.44%, Hong Kong lost 0.73% and Japan led the decline, down 3.4%. European markets are in the red today. The UK is currently down 0.32%, Germany is down 0.27% and France is down 0.31%.

Commodities are mixed this morning. Oil is down 4.01%, natural gas is up 1.47% and gold is up 0.36%. Unleaded gas is down 2.44% and heating oil is up 2.03%. Metals are mixed. Meat is up. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.

Major oil exporters fail to agree on production freeze in Doha. Oil prices slide after freeze deal failure.

PepsiCo Inc. (PEP) reported Q1 earnings this morning with an 8-cent beat and a miss on revenue but reaffirms FY16 guidance and is up nearly 1% in pre-market.

This afternoon after the bell, look for earnings from (GIG) GigOptix, Inc., International Business Machines Corporation (IBM), Netflix, Inc. (NFLX) and Rambus, Inc. (RMBS).

Tomorrow morning, (OMC) Omnicom Group Inc., Tomtom NV (TMOAF), TD Ameritrade Holding Corporation (AMTD), Goldman Sachs Group Inc. (GS), Harley-Davidson, Inc. (HOG), Johnson & Johnson (JNJ), Philip Morris International Inc. (PM) and UnitedHealth Group Inc. (UNH) are expected to report.

Despite an OPEX "orbit dip" on Friday, AAPL had a pretty solid week ending up 1.1% on moderately low volume. AAPL opened higher and bounced up on Monday, reaching a height of mid-110 on higher volume before gravity sunk in, dragging AAPL back down to 109. On Tuesday, AAPL took a spin around the carousel, opening higher in the upper-109 area, then taking a ride below 109 only to end the ride on a high note near mid-110. On Wednesday, AAPL saw fields of green and blue skies, gapping up to 111 and running up through those green fields all day with barely a cloud overhead. On Thursday, AAPL bobbed along the 112 water line while the curious fish investigated. On OPEX Friday, AAPL fell out of 112-orbit losing 2.01% on strong volume. AAPL opened at 112.06 to moderate volume and took a mild dip to mid-111 on light volume at 10am before returning to 112 for lunchtime. After lunch, Japanese newspaper Nikkei supposedly reported "Apple said to continue reduced iPhone production through June quarter" and just like that AAPL "furiously" dropped over 2 points on heavy volume to end below 110. AAPL ended this rough OPEX Friday down 2.25 at 109.85. AAPL continued to decline in after-hours, losing an additional 15 cents to 109.6.

This morning in pre-market, AAPL opened lower in conjunction with Futures and gravitated to the 109-area, setting a low of 108.5 at 7:34am before returning back to 109. AAPL is currently down 84 cents at 109.01 as we approach the open.


Classic max-pain is 109.


Major oil exporters fail to agree on production freeze in Doha:
http://www.nytimes.com/2016/04/18/business/energy-environment/major-oil-exporters-fail-to-agree-on-production-freeze.html

Oil prices slide after freeze deal failure:
http://www.reuters.com/article/us-global-oil-idUSKCN0XE14H

PepsiCo profit tops estimates as Frito-Lay division's sales gain:
http://www.bloomberg.com/news/articles/2016-04-18/pepsico-profit-tops-estimates-as-north-american-snack-sales-grow

Morgan Stanley's profit falls by more than half as trading slumps:
http://www.reuters.com/article/us-morganstanley-results-idUSKCN0XF190

Disney princesses, Star Wars propel Hasbro results:
http://in.reuters.com/article/hasbro-results-idINL3N17L3CT

Goodbye old friend, Sport Chalet:
http://money.cnn.com/2016/04/16/news/companies/sport-chalet-store-closures/

Chinese housing market gains as demand increases:
http://www.bloomberg.com/news/articles/2016-04-18/china-s-home-price-gains-spread-as-easing-measures-spur-demand
http://www.nytimes.com/2016/04/19/business/international/china-real-estate-housing-prices.html

Defaults hit highest level since 2009 bust:
http://www.usatoday.com/story/money/markets/2016/04/18/defaults-hit-highest-level-since-09-bust/83003002/

iPhone with glass casing and AMOLED display coming 2017?
http://www.zdnet.com/article/iphone-with-glass-casing-and-amoled-display-coming-2017-says-analyst/

British Airways jet may have been hit by drone near Heathrow:
http://www.bloomberg.com/news/articles/2016-04-17/british-airways-jet-may-have-been-hit-by-drone-near-heathrow

Hungry? All-you-can-eat fries to be offered at Missouri McDonald's:
http://www.nydailynews.com/life-style/eats/all-you-can-eat-fries-offered-missouri-mcdonald-article-1.2605183

Amazon Prime Video comes out on its own:
http://www.cnet.com/news/amazon-prime-video-comes-out-on-its-own/

MIT is teaching AI how to help stop cyberattacks:
http://www.wired.com/2016/04/mits-teaching-ai-help-analysts-stop-cyberattacks/

Electronic "tattoo" transforms skin into a screen:
http://www.newsweek.com/electronic-tattoo-skin-screen-448928


Today's Economic Calendar:
8:30 Fed's Williams speech
10:00 NAHB Housing Market Index
7:00 PM Fed's Rosengren speech


Notable earnings after today's close: BMI, *GIG*, BBCN, BRO, CE, ELS, FDEF, *IBM*, IEX, MBFI, *NFLX*, PNFP, RCI, *RMBS*, SFBS, ULTR, WIBC, WTFC

And tomorrow before the open: *OMC*, *TMOAF*, PUBGY, GPC, LECO, TRIB, ACRFF, *AMTD*, ASBFY, CMA, EAT, EDU, *GS*, HAFC, *HOG*, *JNJ*, KSU, MBWM, MTG, NTRS, PLD, *PM*, SNV, TTS, *UNH*, WBS

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