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Apple Today - 4/20/2016 (AAPL)

seymour_greenz • April 20th 2016 09:28:27 AM

Good Morning,

NASDAQ Futures are up 7 with +1 Fair Value, S&P Futures are up 2 with +2 Fair Value and Dow Futures are up 5 as this earning season shifts into overdrive. Futures were sharply down early this morning but saw some signs of recovery after 5am and rallied to green as 7am rolled around and are currently near the highs as we await the open.

Asian markets closed mostly down today. China dropped 2.31%, Hong Kong lost 0.93% and Japan gained 0.19%. European markets are mostly up today. The UK is currently down 0.21%, Germany is up 0.16% and France is up 0.14%.

Commodities are mostly up this morning. Oil is down 1.6%, natural gas is up 1.82% and gold is down 0.33%. Unleaded gas is down 0.76% and heating oil is down 0.59%. Metals are mixed. Meat is mixed. Cocoa, coffee, corn and wheat are up while cotton and soybeans are down.

Kuwait oil output set to return to normal after strike ends. Google charged with breaking Europe’s antitrust rules.

Yahoo! Inc. (YHOO) reported Q1 earnings yesterday afternoon that met low expectations and is up over 1.5%. Discover Financial Services (DFS) announced Q1 earnings that beat expectations by 6 cents and is up nearly 5% in pre-market. VMware, Inc. (VMW) reported Q2 earnings with better than expected results and added a share buyback and is up nearly 10%.

The Coca-Cola Company (KO) reported Q1 earnings with a drop in sales due to weak Europe demand and is down over 1.5%. ARM Holdings, plc (ARMH) reported a Q1 profit and is down over 0.5%. DISH Network Corporation (DISH) announced Q1 earnings with a 10.8% profit increase and is up nearly 2.5%. Angie's List, Inc.(ANGI) reported a Q1 loss and membership decline and is down over 12%. EMC Corporation (EMC) announced Q1 earnings with mixed results and is up nearly 2.5%. Abbott Laboratories (ABT) is up nearly 1.5% after reporting a Q1 earnings beat of 2 cents.

This afternoon after the bell, look for earnings from Ancestry.com Inc. (ACOM), Chicago Bridge & Iron Company (CBI), American Express Company (AXP), Citrix Systems, Inc. (CTXS), F5 Networks, Inc. (FFIV), Kinder Morgan, Inc. (KMI), Las Vegas Sands Corp. (LVS), Mattel, Inc. (MAT), Qualcomm Inc. (QCOM), Raymond James Financial Inc. (RJF), Tractor Supply Company (TSCO) and Yum! Brands, Inc. (YUM).

Tomorrow morning, Sonoco Products Co. (SON), IMAX Corporation (IMAX), Alaska Air Group, Inc. (ALK), Citizens Financial Group (CFG), Quest Diagnostics Incorporated (DGX), General Motors Company (GM), Southwest Airlines Co. (LUV), Novartis AG (NVS), The Sherwin-Williams Company (SHW), Stanley Black & Decker, Inc. (SWK), The Travelers Companies, Inc. (TRV), Under Armour, Inc. (UA), Union Pacific Corporation (UNP) and Verizon Communications (VZ) are expected to report.

With a long way to trek back up the hill to 112, AAPL slipped 0.53% on moderate volume yesterday. AAPL opened at 107.81 and immediately set a high of 108 before dropping sharply on high volume to the mid-106 area within 15 minutes. AAPL quickly bounced back above 107.5 by 10:08am and then slid down the slippery yellow hill to an intra-day low of 106.23 at 12:48pm on moderately high volume. AAPL bounced off the lows and clawed back towards the lower-107 area before settling for the day in the upper 106-area. AAPL ended the day down 57 cents at 106.91 and declined an additional 23 cents in after-hours to 106.68.

This morning in pre-market, AAPL opened lower in conjunction with Futures and gained later in the morning in an attempt to recover 107 reaching as high as 106.94. However, AAPL has since slipped and appears to be opening slightly in the red. AAPL is currently down 24 cents at 106.67 as we approach the open.


Classic max-pain is 108.


Kuwait oil output set to return to normal after strike ends:
http://www.bloomberg.com/news/articles/2016-04-20/kuwait-s-oil-output-set-to-return-to-normal-after-strike-ends

Intel to cut up to 12,000 jobs as PC industry swoons:
http://www.reuters.com/article/us-intel-results-idUSKCN0XG2NM

ASML sees rising sales, margin pressure on new technology:
http://www.bloomberg.com/news/articles/2016-04-20/asml-projects-sales-topping-estimates-on-chip-machine-demand

US Bancorp profit drops as provisions for energy loans surge:
http://www.bloomberg.com/news/articles/2016-04-20/u-s-bancorp-profit-drops-3-1-as-expenses-compensation-climb

Coca-Cola sales drop on weak Europe demand, strong dollar:
http://www.reuters.com/article/us-coca-cola-results-idUSKCN0XH163

EMC Q1 soft as orders slip, Dell deal ahead:
http://www.zdnet.com/article/emc-q1-soft-as-orders-slip/

Apple refused China request for source code in last 2 years:
http://in.reuters.com/article/us-apple-encryption-idINKCN0XG28Z

Google charged with breaking Europe’s antitrust rules:
http://www.nytimes.com/2016/04/21/technology/google-europe-antitrust.html

Is Google trying to tell us something?
https://www.washingtonpost.com/news/the-switch/wp/2016/04/19/why-google-is-warning-that-google-com-is-partially-dangerous/

The highest-paying companies in the US:
http://www.bloomberg.com/news/articles/2016-04-20/these-are-the-highest-paying-companies-in-the-u-s

Mitsubishi Motors admits manipulating fuel economy data, shares tumble:
http://www.reuters.com/article/us-mitsubishimotors-regulations-idUSKCN0XH0LG

Has anyone ever heard of Brita?
http://news.nationalgeographic.com/2016/04/160420-bottled-water-sales-record-high-despite-environmental-opposition/


Today's Economic Calendar:
7:00 MBA Mortgage Applications
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories


Notable earnings after today's close: TFIFF, KALU, *ACOM*, NEM, SCKT, UFPI, VMI, BAS, CLGX, GMKYY, *CBI*, *AXP*, BDN, BPFH, BRKL, BXS, CATY, CCK, CLB, CMRE, CNS, *CTXS*, CVBF, DWCH, EFII, EGBN, EGP, ESND, EWBC, EXPO, FBHS, FBNK, *FFIV*, GGG, GHL, HXL, *KMI*, KNX, LRCX, LSTR, *LVS*, *MAT*, MLLGF, MLNX, NOW, OSBC, PCBK, PFBC, PKG, PLXS, PTC, *QCOM*, *RJF*, RLI, RUSHA, SLG, SLM, STLD, STRM, SYK, TBI, TCBI, TIS, TSC, *TSCO*, UMPQ, URI, *YUM*, ZHNE

And tomorrow before the open: USG, ALIOF, BHE, MDSO, CYS, FAF, *SON*, STC, YARIY, DAN, POOL, RS, SYNT, JAKK, ASMI, LAD, *IMAX*, ADS, AEXAF, *ALK*, AMRB, AZZ, BANC, BBT, BIIB, BK, BX, CAHPF, *CFG*, COL, DASTY, *DGX*, DHI, DHR, DOV, DST, ERIC, FITB, *GM*, GMT, HFWA, HOMB, IIIN, JCI, KB, KCG, KEY, KNYJF, LAZ, LDBKF, *LUV*, MAN, MDWD, NUE, NURO, *NVS*, PBCT, PDRDF, PHM, PII, PPG, PVTB, RNSDF, SASR, SBGSF, SFNC, *SHW*, SILC, SKYAY, SNA, STBA, *SWK*, TCB, TGSNF, *TRV*, *UA*, UAL, UFI, *UNP*, UTEK, UTL, *VZ*, YDKN

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