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Apple Today - 5/19/2016 (AAPL)

seymour_greenz • May 19th 2016 09:29:22 AM

Good Morning,

NASDAQ Futures are down 6 with -10 Fair Value, S&P Futures are down 3 with -6 Fair Value and Dow Futures are down 16 as the Fed's words on a June rate hike sink in on this Thursday laced particularly heavily with economic results. Futures were down earlier and sunk to lows at 5am but have since lifted off the lows and are now at the highs pointing to a near-even start as as we await the open.

Asian markets closed mixed today. China lost 0.02%, Hong Kong fell 0.67% and Japan gained 0.01%. European markets are down today. The UK is currently down 1.11%, Germany is down 0.78% and France is down 0.12%.

Commodities are mostly down this morning. Oil is down 2.14%, natural gas is up 1.12% and gold is down 1.84%. Unleaded gas is down 2.38% and heating oil is down 1.83%. Metals are down. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Fed puts June rate increase on table provided economy says go. Stocks edge lower amid uncertain rate outlook. EgyptAir flight 804 disappears over Mediterranean, 66 on board. Wal-Mart profit beats expectations.

Cisco Systems, Inc. (CSCO) reported Q3 earnings yesterday afternoon with results beating expectations and positive guidance and is up nearly 5% in pre-market. Salesforce.com, Inc. (CRM) announced Q1 earnings that beat expectations and is up nearly 6.5%. Urban Outfitters, Inc. (URBN) reported Q1 earnings that beat expectations and is up over 8%. American Eagle Outfitters, Inc. (AEO) announced Q1 earnings beating estimates and is up nearly 15.5%. On the other hand, Take-Two Interactive Software, Inc. (TTWO) reported Q4 results beating expectations but with lowered guidance and is down over 1.5% in pre-market.

Wal-Mart Stores, Inc. (WMT) reported upbeat Q1 earnings this morning and is up over 8% in pre-market. Dick's Sporting Goods, Inc. (DKS) announced Q1 earnings beating expectations but lower guidance and is up nearly 1%. Perry Ellis International Inc. (PERY) reported Q1 earnings this morning topping expectations and raising guidance and is up nearly 9.5%. On the other hand, Cheetah Mobile Inc. (CMCM) announced disappointing Q1 earnings and is down nearly 10.5% in pre-market. Advance Auto Parts, Inc. (AAP) reported a Q1 earnings miss with lowered guidance and is down nearly 11.5%. Toro Company (TTC) also announced Q2 earnings and is down over 1% in pre-market.

This afternoon after the bell, look for earnings from Applied Materials, Inc. (AMAT), Autodesk, Inc. (ADSK), The Gap, Inc. (GPS), Ross Stores, Inc. (ROST), New York & Company, Inc. (NWY) and Shoe Carnival, Inc. (SCVL).

Tomorrow morning, Deere & Company (DE), Foot Locker, Inc. (FL), Destination XL Group, Inc. (DXLG) are expected to report.

AAPL had a strong day, rolling up 1.14% on a bit higher than average volume. AAPL opened up at 94.18 on relatively high volume and quickly set an intra-day low of 93.89 on high volume before bouncing up sharply above mid-94 and continuing up. AAPL spent the rest of the morning and lunchtime in the upper-94 area area until 1pm when AAPL jumped up to set an intra-day high of 95.21 at 1:24pm on moderate volume before slipping down towards 94 on moderate volume and then bouncing back to the mid-94 area into the close. AAPL ended the day up 1.07 at 94.56 and gained an additional 21 cents in after-hours to 94.77.

This morning in pre-market, AAPL opened up higher on low volume and gravitated around the mid-94 area with a later surge into the upper 94-area followed by a slide to the lower-94 area. AAPL is currently down 10 cents at 94.46 as we approach the open.


Classic max-pain is 96.


Fed puts June rate increase on table provided economy says go:
http://www.bloomberg.com/news/articles/2016-05-18/fed-puts-june-rate-increase-on-table-provided-economy-says-go

Stocks edge lower amid uncertain rate outlook:
http://www.usatoday.com/story/money/markets/2016/05/19/stocks-dow-thursday/84580874/

EgyptAir flight 804 disappears over Mediterranean, 66 on board:
http://www.nytimes.com/2016/05/20/world/middleeast/egyptair-flight-804.html

Wal-Mart profit beats expectations:
http://in.reuters.com/article/wal-mart-results-idINKCN0YA1DM

Grand Theft Auto V, closing in on Minecraft, ships 65 million units:
http://www.cnet.com/news/gta-v-closes-in-on-minecraft-with-65-million-units-shipped/

iPhone 7 images show new tapered antenna design, possible laser auto-focus feature:
http://9to5mac.com/2016/05/17/apple-iphone-7-images-camera-laser-focus/

Apple sets up Maps development center in India:
http://www.pcworld.com/article/3072681/mobile/apple-sets-up-development-center-in-india-for-its-maps-product.html

Tesla to sell $2 billion in shares to bolster Model 3 output:
http://www.nytimes.com/2016/05/19/business/tesla-to-offer-2-billion-in-stock-to-meet-model-3-production-goal.html

Google doubles down on AI:
http://www.theverge.com/2016/5/19/11706274/walt-mossberg-google-home-artificial-intelligence-chatbot-io-2016

8 biggest new features in Android N:
http://www.theverge.com/2016/5/19/11711704/android-n-new-features

Google has an AI chip... Skynet coming?
http://www.zdnet.com/article/google-io-custom-tpu-chip-amplifies-machine-learning-performance/

Fitbit is buying Coin so it can make a fitness tracker that pays for things:
http://www.theverge.com/2016/5/18/11700658/fitbit-coin-acquisition-announced

Are Uber and Airbnb for the rich?
http://qz.com/687471/uber-and-airbnb-really-are-for-the-wealthy-and-well-educated/

"Some pig"... remember that?
http://www.csmonitor.com/Science/2016/0518/Some-pig.-Scientists-unravel-the-liquid-wire-in-Charlotte-s-Web


Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Chicago Fed National Activity Index
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
10:30 Fed's Williams Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings after today's close: BRCD, *AMAT*, KEYS, *ADSK*, *GPS*, *ROST*, MENT, ORIG, QADA, *NWY*, *SCVL*, EGHT, QSII

And tomorrow before the open: TGP, *DE*, *FL*, BKE, HIBB, *DXLG*, GMAN

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