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Apple Today - 5/02/2016 (AAPL)

seymour_greenz • May 2nd 2016 09:28:34 AM

Good Morning,

NASDAQ Futures are up 12 with +10 Fair Value, S&P Futures are up 7 with +6 Fair Value and Dow Futures are up 48 as we welcome May in the thick of earnings season. Although Futures started out red early on there has been improvement throughout the morning and are at the highs as we await the open.

Asian markets were mostly closed today. China was closed, Hong Kong was closed and Japan ended down 3.11%. European markets are mixed today. The UK is currently down 1.27%, Germany is up 1.07% and France is up 0.57%.

Commodities are mixed this morning. Oil is down 0.07%, natural gas is down 2.8% and gold is up 0.91%. Unleaded gas is up 0.11% and heating oil is down 0.02%. Metals are up. Meat is up. Coffee and cotton are up while cocoa, corn, wheat and soybeans are down.

Yen holds near 18-month high as gold jumps, Euro, bonds advance. Puerto Rico declares moratorium on debt.

Diamond Offshore Drilling Inc. (DO) reported a profitable Q1 earnings that beat estimates this morning and is up nearly 3% in pre-market.

This afternoon after the bell, look for earnings from American International Group Inc (AIG), Chimera Investment Corporation (CIM), Denny's Corporation (DENN), EarthLink, Inc. (ELNK), Texas Roadhouse, Inc. (TXRH), Extra Space Storage, Inc. (EXR) and Del Taco Restaurants, Inc. (TACO).

Tomorrow morning, The Estée Lauder Companies Inc. (EL), Fidelity National Information Services, Inc. (FIS), RetailMeNot, Inc. (SALE), WellCare Health Plans, Inc. (WCG), CVS Health Corporation (CVS), Henry Schein, Inc. (HSIC), Molson Coors Brewing Company (TAP), Hyatt Hotels Corporation (H), Arrow Electronics Inc (ARW), Carbonite Inc. (CARB), The Clorox Company (CLX), GrubHub Inc. (GRUB), Halliburton Company (HAL), HSBC Holdings PLC (HSBC), Infineon Technologies AG (IFNNF), New York Times Co. (NYT), Pitney Bowes Inc. (PBI), Pfizer Inc. (PFE), Sprint Corporation (S) and UBS Group AG (UBS) are expected to report.

There's no sugar coating it. AAPL had a brutal week, dropping 11.3% on earnings and Icahn news on tremendous volume. AAPL started out on Monday in the mid-105 area and held the 105 line pretty well. On Tuesday before the big event, AAPL slipped to the lower-104 area before the report. In after-hours, AAPL dropped over 8 points on iPhone slowdown concerns and opened at 96 on Wednesday. AAPL saw some recovery on Wednesday with sights set on 99 early in the day and ending near 98. On Thursday, AAPL held the 97-area until 2pm when Icahn revealed his complete exit of AAPL, then AAPL dropped to the low-94 area. On Friday, AAPL opened at 94 to high volume and drifted down to the low of the day of 92.51 at 11:36am on high volume before recovering towards 94 by 1pm, then slipping again towards 93 later in the afternoon. AAPL recovered the upper-93 area again towards the close to end down 1.09 at 93.74. AAPL dropped 2 cents in after-hours to 93.72.

This morning in pre-market, AAPL opened higher in conjunction with Futures and has been hovering in the lower-94 area all morning. AAPL is currently up 39 cents at 94.13 as we approach the open.


Classic max-pain is 97.


Yen holds near 18-month high as gold jumps, Euro, bonds advance:
http://www.bloomberg.com/news/articles/2016-05-01/yen-near-18-month-high-as-asian-futures-signal-losses-oil-drops

Puerto Rico declares moratorium on debt:
http://www.reuters.com/article/us-puertorico-debt-idUSKCN0XS1KC

Goodbye Sport Chalet, I mean Sports Authority. Deja Vu?
http://www.forbes.com/sites/lauraheller/2016/04/30/sports-authority-closing-all-stores/#7785da1b2203

Halliburton, Baker Hughes call off $28 billion deal:
http://www.bloomberg.com/news/articles/2016-05-01/halliburton-baker-hughes-said-to-call-off-28-billion-merger

Exxon isn't worried. Should you be?
http://www.bloomberg.com/gadfly/articles/2016-04-29/exxon-earnings-its-reputation-keeps-weakening

Where does Apple go next?
http://www.zdnet.com/article/beyond-the-iphone-where-does-apple-go-next/

WWDC is coming and so is the new 2016 MacBook Pro:
http://www.techtimes.com/articles/155391/20160502/2016-macbook-pro-should-debut-soon-at-wwdc-so-heres-what-specs-and-features-we-expect.htm

Have we really found Satoshi?
http://www.bbc.com/news/technology-36168863

Your smartphone soon to get smarter:
http://www.theverge.com/2016/5/2/11538122/qualcomm-deep-learning-sdk-zeroth

Intel drops Atom processors:
http://www.techtimes.com/articles/155250/20160502/intel-drops-atom-processors-what-this-means-for-the-surface-phone.htm

Maybe not the best idea:
http://www.theverge.com/2016/5/2/11540962/iphone-samsung-fingerprint-duplicate-hack-security

Quite an icy case:
http://time.com/4313915/starbucks-lawsuit-iced-coffee-ice/

Frenchman sets new record for farthest hoverboard flight:
http://www.techtimes.com/articles/155238/20160502/frenchman-sets-new-world-record-for-farthest-hoverboard-flight.htm

Welcome back, old asteroid:
http://time.com/4313966/asteroid-science-comet/



Today's Economic Calendar:
8:30 Gallup US Consumer Spending Measure
8:50 Fed's Lockhart speech
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending


Notable earnings after today's close: EGOV, MPWR, PDM, PPS, BECN, AGII, OI, QLYS, ACSF, AIN, CUTR, OTTR, HMN, NGHC, SGMO, CGNX, FMC, GPRE, TCO, ALNY, *AIG*, RPAI, TTOO, VNO, *CIM*, *DENN*, *ELNK*, OGS, SBRA, LTC, CHGG, GLRE, MIC, MRC, ONDK, RAIL, RGLS, ROG, SHO, THC, *TXRH*, BBRG, EIX, *EXR*, LAND, NATL, AXTI, HVT, KAI, LMAT, RSPP, UVE, MACK, SBAC, VNR, ACUR, AEGN, MCEP, RSO, SYKE, TNET, AERI, PQ, KTWO, ACRX, ADUS, XNCR, WG, CERU, BDE, ACLS, AEIS, AFG, APC, APU, ARE, ARR, BETR, BWXT, CACC, CBT, CC, CIOXY, CYH, DHT, EDVMF, EHMEF, ENH, FN, FTK, GGP, IDTI, ININ, IVAC, LMNX, NBN, OLN, RTEC, SRDX, *TACO*, TSRA, UGI, WSTC

And tomorrow before the open: TSU, *EL*, *FIS*, *SALE*, VSH, *WCG*, ALLT, CPXGF, *CVS*, GLT, AFSI, *HSIC*, MYL, AHH, ORKLY, OZM, Q, *TAP*, CRZBF, PGSVY, AMAG, ENLK, ALE, BCC, DUK, EIGI, FRTSF, *H*, HCN, MNTA, NI, TAC, CRWN, CIE, CEQP, ECL, FDP, FTR, GLDD, HEP, PRTK, WLK, WLKP, WWW, ECA, EXAS, FMS, NTI, NXST, RRD, STAR, WNR, WNRL, ACW, FOLD, HBP, NWN, RHP, SALT, LXRX, OXFD, WJXFF, MPSYF, BDIMF, BTE, CGG, HSKA, SSH, ATAX, TICC, NERV, ARNGF, ABMD, ADM, AMG, APLP, AROC, ARRY, *ARW*, AUDC, BBW, BCO, BNPQF, *CARB*, CFX, *CLX*, CMI, COTY, CTS, CVLT, DLAKF, EMR, FSS, *GRUB*, *HAL*, HCA, HRS, *HSBC*, HW, IFMI, *IFNNF*, ITUB, KEM, KMT, MDABF, MNK, *NYT*, *PBI*, *PFE*, PKE, RDWR, REIS, RYAM, *S*, SCAI, SGNT, SMG, SNBC, SXI, TECH, TMBCF, *UBS*, VLO, VMC, WAC, WEC, WJAFF, XYL

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