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Apple Today - 5/18/2016 (AAPL)

seymour_greenz • May 18th 2016 09:28:44 AM

Good Morning,

NASDAQ Futures are down 6 with -6 Fair Value, S&P Futures are down 4 with -4 Fair Value and Dow Futures are down 37 as we hit mid-week and await the FOMC minutes at 2pm. Futures have been shaking around from lower in early morning to higher at 6am and back to the lows again as we await the open.

Asian markets closed down today. China lost 1.27%, Hong Kong fell 1.45% and Japan dropped 0.05%. European markets are also down today. The UK is currently down 0.56%, Germany is down 0.21% and France is down 0.28%.

Commodities are mixed this morning. Oil is down 0.02%, natural gas is down 1.46% and gold is down 0.19%. Unleaded gas is down 0.09% and heating oil is down 0.35%. Metals are down. Meat is up. Cocoa and cotton are up while coffee, corn, wheat and soybeans and are down.

Global stocks steady after US rate rise expectations revive. Markets await FOMC minutes at 2pm.

Lowe's Companies, Inc. (LOW) reported Q1 earnings this morning with better than expected results and is up over 1% in pre-market. Hormel Foods Corporation (HRL) reported Q2 earnings topping forecasts and is up nearly 1%. On the other hand, Target Corporation (TGT) reported Q1 earnings missing estimates and is down nearly 7.5%. Staples, Inc. (SPLS) announced Q1 earnings and is down nearly 1%. Analog Devices Inc. (ADI) reported Q2 earnings this morning and is down over 0.5%.

This afternoon after the bell, look for earnings from Cisco Systems, Inc. (CSCO), Flowers Foods, Inc. (FLO), Salesforce.com, Inc. (CRM), American Eagle Outfitters, Inc. (AEO), Urban Outfitters, Inc. (URBN) and Take-Two Interactive Software, Inc. (TTWO).

Tomorrow morning, Advance Auto Parts, Inc. (AAP), Toro Company (TTC), Wal-Mart Stores, Inc. (WMT), Dick's Sporting Goods, Inc. (DKS), Cheetah Mobile Inc. (CMCM), Perry Ellis International Inc. (PERY) are expected to report.

Although there appeared to be great potential for AAPL in pre-market yesterday, the recent AAPL mountain looked as if it may have "peaked" with AAPL declining 0.42% on relatively high volume for the day. AAPL opened up at 94.67 and immediately set an intra-day high of 94.70 before selling off to mid-93 within an hour on moderate volume. After 10:30am, AAPL bounced back to 94 and struggled to hold it, selling off as 2pm approached and hitting a low of 93.01 at 3:26pm on relatively high volume before recovering mid-93 into the close. AAPL ended intra-day down 39 cents at 93.49 and gained back 2 cents in after-hours to 93.51.

This morning in pre-market, AAPL opened up higher on low volume and reclaimed 94 around 6am, later hitting a pre-market high of 93.49. AAPL is currently up 22 cents at 93.71 as we approach the open.


Classic max-pain is 96.


Global stocks steady after US rate rise expectations revive:
http://www.reuters.com/article/us-global-markets-idUSKCN0Y901P

Lowe's sales beat estimates as housing market strengthens:
http://www.reuters.com/article/us-lowes-results-idUSKCN0Y915J

Target tumbles:
http://www.bloomberg.com/news/articles/2016-05-18/target-sales-miss-estimates-even-as-cost-cuts-bolsters-profit

Time Warner Cable turns Charter:
http://www.bloomberg.com/news/articles/2016-05-17/so-long-time-warner-cable-charter-to-retire-much-maligned-brand

China accuses US of "unfair methods" in steel dumping probe:
http://in.reuters.com/article/china-steel-usa-idINL3N18F3FH

Are genetically engineered crops safe?
http://www.nytimes.com/2016/05/18/business/genetically-engineered-crops-are-safe-analysis-finds.html

Was Mitsubishi Motors' scandal an accident waiting to happen?
http://www.bloomberg.com/news/articles/2016-05-18/mitsubishi-motors-scandal-was-an-accident-waiting-to-happen

Apple woos app developers in India:
http://www.pcworld.com/article/3071686/mobile/apples-tim-cook-woos-app-developers-in-india.html

Fixing iTunes:
http://www.theverge.com/2016/5/18/11699020/how-many-apple-engineers-does-it-take-to-fix-itunes

Nokia phones warm up to Android:
http://www.cnet.com/news/nokia-phones-find-new-champion-packing-android-adios-microsoft/

Google to introduce Echo-like device:
http://www.nytimes.com/2016/05/18/technology/google-to-introduce-its-voice-activated-home-device.html

Google I/O highlights in photos:
http://www.cnet.com/pictures/google-io-highlights/

Facebook debuts 360-degree film "Here and Now":
http://www.cnet.com/au/news/facebook-debuts-360-degree-film-here-and-now/

Back where we started... the irony:
http://www.theverge.com/2016/5/18/11699544/amazon-new-retail-locations-prime-bezos

Bill Gates has homework for you:
http://time.com/4338995/bill-gates-summer-reading-2016/

Europa's ocean chemistry could be Earth-like:
http://news.discovery.com/space/alien-life-exoplanets/lifes-chemistry-europas-ocean-could-be-earth-like-160517.htm

Why do giraffes have long necks?
http://www.csmonitor.com/Science/2016/0517/Giraffes-Why-the-long-neck-Scientists-crack-evolutionary-code


Today's Economic Calendar:
7:00 MBA Mortgage Applications
10:00 Atlanta Fed's Business Inflation Expectations
11:00 EIA Petroleum Inventories
2:00 PM FOMC minutes


Notable earnings after today's close: *CSCO*, *FLO*, SNPS, *CRM*, LB, *AEO*, *URBN*, MQLXF, BOOT, DRWI, EXP, HLI, JHX, PBIO, RXN, *TTWO*, WSTL

And tomorrow before the open: AINV, CAE, NNA, *AAP*, JE, ENZY, TK, TOO, *TTC*, *WMT*, BRC, TNK, HENKY, BLERF, ECC, EVGN, SSI, TWMC, *DKS*, RAVN, SMRT, BONT, *CMCM*, TENX, ZX, WRCDF, *PERY*, DMPI, ELOS, HGG, HQCL, IVTJF, MKGAF, MNRO, NGG, OXLC, ROYMF, TCKGF

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