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Apple Today - 5/20/2016 OPEX (AAPL)

seymour_greenz • May 20th 2016 09:28:48 AM

Good Morning,

Happy Friday. NASDAQ Futures are up 17 with +21 Fair Value, S&P Futures are up 6 with +8 Fair Value and Dow Futures are up 54 as we wrap up this week up with another OPEX amid tapering earnings and sparse economic data. Futures were up more earlier and dipped at 5am but have bounced back to recover and are headed back towards the highs as we await the open.

Asian markets closed up today. China gained 0.66%, Hong Kong increased 0.8% and Japan went up 0.54%. European markets are rallying today. The UK is currently up 1.34%, Germany is up 0.86% and France is up 1.05%.

Commodities are mixed this morning. Oil is down 0.12%, natural gas is up 0.15% and gold is up 0.18%. Unleaded gas is down 0.73% and heating oil is down 0.33%. Metals are up. Meat is down. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

EgyptAir plane wreckage found, military says.

Applied Materials, Inc. (AMAT) reported Q2 earnings beating expectations with upbeat guidance yesterday and is up 8% in pre-market. The Gap, Inc. (GPS) reported Q1 earnings meeting expectations and is up 1.5%. On the other hand, Autodesk, Inc. (ADSK) announced a Q1 loss and is down slightly. Ross Stores, Inc. (ROST) also announced Q1 earnings and is down nearly 6.5% in pre-market.

Deere & Company (DE) reported Q2 earnings this morning with a lowered Q3 forecast due to "a global farming recession'" and is down over 1.5%. Foot Locker, Inc. (FL) announced Q1 earnings with mixed results, blaming "a global foot recession" and is down nearly 3% in pre-market.

Splash. AAPL spent the entire day bobbing on the 94 waterline and ended down 0.38% on relatively low volume, but a flicker of hope for 95 still remains as AAPL has put in a good performance in pre-market this morning. Despite a strong showing in pre-market yesterday AAPL opened at 94.56 to heavy volume and immediately put in a high of 94.64 on high volume before quickly slipping below 94 on high volume and later hitting a low of 93.57 at 11:46am on low volume before working back towards 94 later in the afternoon and putting in a small surge into the close to end the intra-day down 36 cents at 94.2. AAPL gained 11 cents in after-hours to 94.31.

This morning in pre-market, AAPL opened up higher on India news and sold off towards mid-94 later in the morning with a dip to 94.32 before bouncing back to mid-94. AAPL is currently up 29 cents at 94.49 as we approach the open.


Classic max-pain is 95. Today is OPEX. Have a good weekend with your friends and family.


EgyptAir plane wreckage found, military says:
http://www.cnn.com/2016/05/20/middleeast/egyptair-flight-804-main/

Lacking new ideas, G7 to agree on "go-your-own-way" approach:
http://in.reuters.com/article/us-g7-japan-idINKCN0YB0DQ

Deere cuts full-year profit outlook amid farm income decline:
http://www.bloomberg.com/news/articles/2016-05-20/deere-cuts-full-year-profit-forecast-amid-decline-in-farm-income

Troubling chatter on Yahoo core sale process:
http://www.forbes.com/sites/jaysomaney/2016/05/20/troubling-chatter-on-yahoo-core-sale-process/#31b772744b0b

VW, IG Metall union reach deal in pay talks for German plants:
http://www.reuters.com/article/us-volkswagen-wages-idUSKCN0YB0BX

Apple's Indian charm offensive has 1 goal:
http://www.cnet.com/au/news/apple-ceo-tim-cook-looks-india-for-iphone-sales/

Today is the 15th anniversary of Apple's first 2 retail stores:
http://www.macrumors.com/2016/05/19/apple-retail-stores-15th-anniversary/

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

Google payday loan ban winds up affecting... one of Google's own start-ups?
http://www.pcmag.com/news/344606/google-payday-loan-ban-snags-google-ventures-backed-start-up

IMAX plans to open 6 virtual reality theaters this year:
http://www.theverge.com/2016/5/20/11719284/imax-vr-movie-theaters

These are the best US cities for jobs:
http://www.bloomberg.com/news/articles/2016-05-18/these-are-the-best-u-s-cities-for-jobs

Google patent human flypaper... Jeff Goldblum approves:
http://www.pcmag.com/news/344594/google-patent-tips-pedestrian-flypaper-for-driverless-cars

Angry bird? Just genes:
http://www.bbc.com/news/science-environment-36302791

Hubble Telescope captures incredible closeup view of Mars:
http://www.space.com/32926-mars-opposition-amazing-hubble-photo.html

How your nose got its shape:
http://news.discovery.com/human/evolution/how-your-nose-got-its-shape-160520.htm


Today's Economic Calendar:
10:00 Existing Home Sales
1:00 PM Baker-Hughes Rig Count


Notable earnings after today's close: ATEA, EFUT

And on Monday before the open: EXTN, KLXI, SOL

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