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Apple Today - 4/29/2016 OPEX (AAPL)

seymour_greenz • April 29th 2016 09:29:38 AM

Good Morning,

NASDAQ Futures are down 18 with +8 Fair Value, S&P Futures are down 6 with -3 Fair Value and Dow Futures are down 45 as this busy week draws to a close. Futures have been erratic all morning and are at the lows as we await the open.

Asian markets ended down today. China fell 0.25%, Hong Kong dropped 1.5% and Japan was closed for holiday. European markets are down today. The UK is currently down 0.69%, Germany is down 1.67% and France is down 1.61%.

Commodities are up this morning. Oil is up 0.91%, natural gas is up 0.34% and gold is up 0.94%. Unleaded gas is down 0.12% and heating oil is up 0.11%. Metals are up. Meat is mostly down. Cocoa, coffee, corn, wheat and soybeans are up while cotton is down.

Futures hold losses after lackluster inflation data. US consumer spending edges up in March.

Amazon.com, Inc. (AMZN) reported Q1 earnings yesterday afternoon that beat expectations with strong cloud sales and is up over 12% in pre-market. LinkedIn (LNKD) announced Q1 earnings and is up nearly 9%. Pandora Media (P) reported Q1 earnings with increased revenue from ad sales and is up over 10%. Baidu, Inc. (BIDU) announced Q1 earnings that beat expectations and increased guidance and is up nearly 4.5%. On the other hand, Groupon, Inc. (GRPN) reported a Q1 earnings loss yesterday afternoon and is down nearly 5.5%. Skyworks Solutions, Inc. (SWKS) announced Q2 earnings with lowered guidance and is down nearly 2.5%.

Exxon Mobil Corporation (XOM) announced Q1 earnings with lower profits but beat expectations and is up over 0.5%. Chevron Corporation (CVX) reported a Q1 earnings loss this morning and is down nearly 1.5%. ImmunoGen, Inc. (IMGN) announced a Q3 loss and lowered guidance and is down over 13%. Seagate Technology (STX) reported a Q3 earnings loss and is down slightly.

Monday morning, Diamond Offshore Drilling Inc. (DO) and Loews Corporation (L) are expected to report.

After attempting to rebuild from the earnings bomb, another "bomb" hit AAPL. "News" that Carl Icahn exited his AAPL position hit hard and AAPL dropped 3.06% on colossal volume. AAPL opened at 97.55 to high volume and took a quick dip below 97 on high volume before managing to turn green briefly and setting an intra-day high of 97.88 at 10:56am on moderate volume. Afterwards, AAPL returned to the 97-area until 2pm when Icahn announced his exit from AAPL. AAPL then reacted by dropping below 95 on extremely high volume, hitting a low of 94.25 at 3:26pm on huge volume. AAPL bounced slightly in the last hour to end down 2.99 at 94.83. AAPL gained 26 cents in after-hours to 95.09.

This morning in pre-market, AAPL opened lower in conjunction with Futures and has been fighting to open near yesterday's close. AAPL is currently down 25 cents at 94.58 as we approach the open.


Classic max-pain is 102. Today is OPEX. Have a good weekend with your friends and family.


Futures hold losses after lackluster inflation data:
http://www.nasdaq.com/article/market-snapshot-stock-futures-hold-losses-after-lackluster-inflation-data-20160429-00475

US consumer spending edges up in March:
http://www.nytimes.com/aponline/2016/04/29/us/politics/ap-us-consumer-spending.html?_r=0

Is Bank of England likely to keep rates unchanged until 2017?
http://www.reuters.com/article/us-boe-policy-poll-idUSKCN0XQ1C0

Amazon profit tops estimates as fast delivery, cloud fuels growth:
http://www.bloomberg.com/news/articles/2016-04-28/amazon-sales-top-estimates-as-fast-delivery-options-fuel-growth

Exxon Mobil Q1 profit drops 63 percent:
http://in.reuters.com/article/us-exxon-mobil-results-idINKCN0XQ1EK

Apple buybacks to resume on Friday, gobbling up stock priced near the lowest of 2016:
http://appleinsider.com/articles/16/04/28/apple-buybacks-to-resume-on-friday-gobbling-up-stock-priced-near-the-lowest-of-2016

Europe's case against Google might help rivals more than consumers:
http://www.nytimes.com/2016/04/29/business/europes-case-against-google-might-help-rivals-more-than-consumers.html

Twitter changes its stripes:
http://www.technewstoday.com/29479-twitter-is-now-categorizing-itself-as-a-news-app-on-ios-app-store/


Today's Economic Calendar:
6:30 Fed's Kaplan: Monetary Policy
8:30 Personal Income and Outlays
8:30 Employment Cost Index
9:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
3:00 Farm Prices


Notable earnings after today's close: IFSPF

And on Monday before the open: *DO*, *L*, AKKVF, EEP, FELE, PCRX, BSFT, CEVA, CPPMF, CUB, HP, ONB

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