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Apple Today - 6/08/2016 (AAPL)

seymour_greenz • June 8th 2016 09:29:21 AM

Good Morning,

NASDAQ Futures are up 8 with +10 Fair Value, S&P Futures are up 4 with +3 Fair Value and Dow Futures are up 34 as we hit mid-week. Futures started down in very early morning but have marched upwards all morning and are near the highs as we await the open.

Asian markets ended mixed. China dropped 0.30%, Hong Kong declined 0.14% and Japan gained 0.93%. European markets are mostly down today. The UK is up 0.10%, Germany is down 0.30% and France is down 0.20%.

Commodities are mostly up this morning. Oil is up 1.37%, natural gas is up 0.89% and gold is up 0.83%. Unleaded gas is up 1.16% and heating oil is up 1.19%. Metals are up. Meat is down. Cocoa, coffee, corn, wheat and soybeans are up while cotton is down.

Oil hits 8-month high on disruptions, Chinese demand.

Dave & Buster's Entertainment, Inc. (PLAY) reported Q1 earnings yesterday afternoon beating revenue expectations by 13 cents, guidance above consensus and $100 million share repurchase and is up over 5% in pre-market. On the other hand, VeriFone Systems, Inc. (PAY) reported Q3 earnings yesterday afternoon missing by 5 cents and weaker than expected guidance and is down nearly 28%.

Lululemon Athletica Inc. (LULU) reported Q1 earnings this morning with strong sales and a mixed forecast and is up nearly 1.5% in pre-market. Renren Inc. (RENN) reported a Q1 loss and has yet to react.

This afternoon after the bell, look for earnings from FuelCell Energy, Inc. (FCEL), Restoration Hardware (RH) and Tailored Brands, Inc (TLRD).

Tomorrow morning, J. M. Smucker Company (SJM) and Francesca's Holdings Corp. (FRAN) are expected to report.


After an initial buffalo charge, AAPL leveled out towards a fairly flat plain, holding on to a 0.41% gain yesterday on low volume. Despite a pre-market see-saw AAPL opened up strong at 99.30 on moderate volume and quickly charged up to an intra-day high of 99.87 at 10:34am on low volume. AAPL then gave up the highs and flattened off in the mid-99 area for most of the day before dipping towards 99 to an intra-day low of 98.96 within minutes of the close on moderate volume. Still, another green day as AAPL ended the day up 40 cents at 99.03 and then gave up the 3 cents change in after-hours to end at 99 even.

This morning in pre-market, AAPL opened lower in the upper-98 area and found some footing in 99 as Futures became more cheery. AAPL hit a pre-market high of 99.25 and is currently up 14 cents at 99.17 as we approach the open.


Classic max-pain is 99.


Oil hits 8-month high on disruptions, Chinese demand:
http://in.reuters.com/article/us-global-oil-idINKCN0YU05Z

Brazil stocks rise as Petrobras rally offsets political tension:
http://www.bloomberg.com/news/articles/2016-06-07/brazil-stocks-fall-as-political-tension-threatens-recovery-plan

Brazil consumer inflation accelerates more than forecast in May:
http://www.bloomberg.com/news/articles/2016-06-08/brazil-consumer-inflation-accelerates-more-than-forecast-in-may

Lululemon sales beat estimates, outlook mixed:
http://www.bloomberg.com/news/articles/2016-06-08/lululemon-forecasts-second-quarter-profit-below-estimates

Devon Energy to get nearly $1 billion from asset sales:
http://www.reuters.com/article/us-devon-energy-divestiture-idUSKCN0YS0Z6

Asia's $60 trillion wealth takes Europe down a peg:
http://www.barrons.com/articles/asias-60-trillion-message-to-europe-were-richer-1465353909

WWDC is almost here:
http://www.theverge.com/2016/6/8/11876308/apple-wwdc-2016-keynote-date-no-macbook-pro-rumors

Google's Motion Stills app lets you create the best-looking GIFs on the web:
http://www.zdnet.com/article/googles-motion-stills-app-lets-you-create-the-best-looking-gifs-on-the-web/

New Microsoft Surface Pro 5 launch:
http://www.techtimes.com/articles/163659/20160608/new-microsoft-surface-pro-5-launch-date-pricing-and-spec-report-2017-release-16-gb-ram-4k-uhd-display-options.htm

Amazon targets India growth with $3 billion investment boost:
http://www.bloomberg.com/news/articles/2016-06-08/amazon-to-invest-additional-3-billion-in-india-ceo-bezos-says

Uber's quest to get more people in fewer cars:
http://www.techinsider.io/uberpool-ride-sharing-could-be-the-future-of-uber-2016-6

GPS issues?
http://www.usatoday.com/story/news/2016/06/07/faa-military-testing-could-leave-gps-unreliable-pilots-across-west-june/85562276/

Snapchat's redesign is aimed at attracting more eyeballs for publishers and brands:
http://www.adweek.com/news/technology/snapchats-redesign-aimed-attracting-more-eyeballs-publishers-and-brands-171843

Your fish knows your face!
http://www.csmonitor.com/Science/2016/0607/Does-your-pet-fish-know-who-you-are-It-just-might-scientists-say


Today's Economic Calendar:
7:00 MBA Mortgage Applications
10:00 Job Openings and Labor Turnover Survey
10:00 Quarterly Services Report
10:30 EIA Petroleum Inventories
1:00 PM Results of $20B, 10-Year Note Auction


Notable earnings this afternoon after the bell: ABM, *FCEL*, VISI, MIND, DTEA, DDC, STRM, CMTL, *RH*, *TLRD*

And tomorrow before the open: CRWS, *SJM*, GEF, CBK, MTN, AEPI, *FRAN*, TRZBF

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