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Apple Today - 4/26/2016 Earnings (AAPL)

seymour_greenz • April 26th 2016 09:30:35 AM

Good Morning,

NASDAQ Futures are up 7 with +13 Fair Value, S&P Futures are up 5 with +7 Fair Value and Dow Futures are up 44 as the earnings tap overflows (including Apple this afternoon) and the FOMC meeting begins. Futures were slightly up from flat early in the morning and popped up at 3:30am, peaking 20 minutes later and settling a bit afterwards but still well up as we await the open.

Asian markets closed mixed today. China gained 0.61%, Hong Kong went up 0.48% and Japan declined 0.49%. European markets are mostly up today. The UK is currently up 0.37%, Germany is up 0.02% and France is flat.

Commodities are mostly up this morning. Oil is up 0.98%, natural gas is down 0.78% and gold is down 0.48%. Unleaded gas is up 0.97% and heating oil is up 1.12%. Metals are down. Meat is mostly up. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

Rebound in U.S. durable goods orders below expectations. Home prices rose less than forecast in February. FCC chairman, Justice Department sign off on Charter's takeover of Time Warner Cable. Apple to announce earnings this afternoon.

Express Scripts, Inc. (ESRX) reported Q1 earnings yesterday afternoon with mixed results and is down over 1% in pre-market. American Capital Agency Corp. (AGNC) announced a Q1 loss and is down over 0.5%.

T-Mobile US, Inc. (TMUS) reported Q1 earnings this morning that beat expectations driven by new customers and is up over 2.5%. JetBlue Airways Corporation (JBLU) announced Q1 earnings beating profit forecasts and is up nearly 2% in pre-market. The Procter & Gamble Company (PG) is also up slightly after reporting mixed Q3 results, but beat expectations. The Hershey Company (HSY) looks to be set for a sharply down open after posting mixed Q1 results and a weak outlook.

This afternoon after the bell, look for earnings from Apple Inc. (AAPL), Aflac Incorporated (AFL), Buffalo Wild Wings, Inc. (BWLD), Chipotle Mexican Grill, Inc. (CMG), Capital One Financial Corporation (COF), Cree, Inc. (CREE), Cirrus Logic, Inc. (CRUS), eBay Inc. (EBAY), Edwards Lifesciences Corp (EW), AT&T Inc. (T), United States Steel Corporation (X), Akamai Technologies, Inc. (AKAM), iRobot Corporation (IRBT), Panera Bread Company (PNRA) and Twitter, Inc. (TWTR).

Tomorrow morning, Six Flags Entertainment Corporation (SIX), Avery Dennison Corporation (AVY), The Boeing Company (BA), Barclays PLC (BCS), Boston Scientific Corporation (BSX), Comcast Corporation (CMCSA), General Dynamics Corporation (GD), International Paper Co. (IP), L-3 Communications Holdings Inc. (LLL), Nomura Holdings, Inc. (NMR), Northrop Grumman Corporation (NOC), PayPal Holdings, Inc. (PYPL), Dr Pepper Snapple Group, Inc. (DPS), Garmin Ltd. (GRMN), Goodyear Tire & Rubber Co. (GT), Hilton Worldwide Holdings (HLT), Lexmark International, Inc. (LXK) and Owens Corning (OC) are expected to report.

AAPL struggled to leap out of the fishbowl yesterday with a trajectory towards the floor, losing 0.57% on moderate volume. AAPL opened at 105 to moderate volume, hit an intra-day high of 105.65 at 9:36am and then sunk to the bottom of the bowl, hitting an intra-day low of 104.51 an hour later on moderate volume. AAPL then recovered 105 an hour later and made it as high as the mid-105 area by 2pm before dropping back down below 105 into the close. AAPL ended the day down 60 cents at 105.08. AAPL gained 7 cents in after-hours to end at 105.15.

This morning in pre-market, AAPL opened higher and sunk throughout the morning on KGI Securities analyst Ming-Chi Kuo comments on iPhone 7. AAPL hit a pre-market low of 104 at 7:36am on relatively high volume before bouncing slightly and is currently down 51 cents at 104.57as we approach the open.


Classic max-pain is 110. Apple reports earnings this afternoon.


Rebound in U.S. durable goods orders below expectations:
http://www.reuters.com/article/us-usa-economy-durable-idUSKCN0XN1IC

Home prices rose less than forecast in February:
http://www.bloomberg.com/news/articles/2016-04-26/home-prices-in-u-s-cities-rose-less-than-forecast-in-february

T-Mobile posts higher-than-expected earnings as customers climb:
http://in.reuters.com/article/us-t-mobile-us-results-idINKCN0XN13Y

P&G profit tops estimates:
http://www.bloomberg.com/news/articles/2016-04-26/p-g-profit-tops-analysts-projections-as-taylor-trims-expenses

Low oil price pushes BP to $485m loss:
http://www.bbc.com/news/business-36137008

FCC chairman, Justice Department sign off on Charter's takeover of Time Warner Cable:
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-fcc-charter-time-warner-cable-merger-20160415-story.html

Is Nokia coming back?
http://www.theverge.com/2016/4/26/11507344/nokia-gadgets-are-coming-back

Buffett strong at 85:
http://www.bloomberg.com/news/articles/2016-04-26/buffett-makes-it-easier-to-be-sure-he-hasn-t-drifted-away-at-85

Does Apple have a iPhone 7 problem?
http://www.cnet.com/uk/news/apples-iphone-7-problem/

Mitsubishi admits cheating on tests:
http://www.nytimes.com/2016/04/27/business/international/mitsubishi-fuel-economy-tests.html


Today's Economic Calendar:
FOMC meeting begins
8:30 Durable Goods
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:00 Richmond Fed Mfg.
1:00 PM Results of $34B, 10-Year Note Auction


Notable earnings after today's close: *AAPL*, BRX, AIZ, *AKAM*, AKR, ARI, CLMS, HIW, MKTO, NCR, *PNRA*, *IRBT*, O, SHERF, *TWTR*, NUVA, AAT, BXMT, BYD, CSFFF, CVA, EXAC, FE, FSP, FTI, PSA, PSB, ZIXI, TEX, BEAT, IIN, NMIH, HLS, JBT, PEI, SLCA, TX, FOE, VICR, SMSI, *AFL*, ARAY, ASH, AXS, BPMX, *BWLD*, BXP, CHRW, CINF, *CMG*, *COF*, *CREE*, *CRUS*, CUDA, DHIFF, *EBAY*, *EW*, FISI, FTNT, HUBG, HXSCL, ISIL, JBSS, KLAC, MRCY, MTSI, MWA, NANO, PREKF, RHI, RMD, RNR, RNST, STL, *T*, TMK, TRMK, TRU, TSS, ULTI, VNTV, WNC, WRB, *X*

And tomorrow before the open: SAIA, AVACF, *GT*, ACCO, BGCP, CG, EEFT, *OC*, CVE, FBRC, GPI, GRA, KINNF, OUTKF, TOT, WOOF, FOEAF, *DPS*, DX, GCI, *GRMN*, NHYDY, WCIC, CFPUF, CBZ, CFPZF, LDOS, SUZBY, CETV, KOF, *LXK*, BIN, IBDRY, IBDSF, MYCC, BLDP, IART, *HLT*, TPH, FDML, STNG, NEO, MVIS, TRK, AGCO, AMFW, ANTM, AOS, *AVY*, *BA*, *BCS*, BEN, BHI, BOKF, BSBR, BSMX, *BSX*, CFR, *CMCSA*, CSL, DHIL, DHX, DSPG, EURN, EVER, EVR, FBR, FI, FSV, *GD*, GIB, GSK, HES, *IP*, JCOUF, JLL, LDNXF, LEA, *LLL*, LRN, MDLZ, MHH, MKTX, MPX, NAP, NBRV, NDAQ, NHTC, *NMR*, *NOC*, NRDEF, NS, NSH, NTOIF, NYRSF, OSAGF, OSIS, OUKPF, PB, *PYPL*, RDN, RES, ROK, ROL, SC, SLAB, SLGN, SMED, SO, SONS, STT, SUP, SXC, SXCP, SZCRF, TELNF, TGNA, TKR, UCBI, UMC, USAP, UTX, UVSP, VLY, WASH, WEX, WILN

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