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Apple Today - 7/18/2016 (AAPL)

seymour_greenz • July 18th 2016 09:30:19 AM

Good Morning,

NASDAQ Futures are up 11 with +7 Fair Value, S&P Futures are up 6 with +3 Fair Value and Dow Futures are up 37 as we pass the midway mark of July and brace for a mammoth earnings stretch. It's relatively quiet on the economic calendar front and Futures were up in early morning, hitting a peak at 3am and then slipping, but are currently up off the lows as we await the open.

Asian markets ended mixed. China dropped 0.35%, Hong Kong gained 0.66% and Japan was closed. European markets are mixed. The UK is up 0.42%, Germany is flat and France is down 0.12%.

Commodities are mixed this morning. Oil is down 1.07%, natural gas is down 0.07% and gold is up 0.09%. Unleaded gas is down 1.68% and heating oil is down 0.94%. Metals are down except gold. Meat is down. Cocoa, coffee, cotton and wheat are up while corn and soybeans are down.

Dollar up on failed Turkey coup; SoftBank's ARM bid boosts shares. ARM chip designer to be bought by Japan's Softbank. Oil prices ease as market shrugs off Turkey coup bid.

Bank of America Corp (BAC) reported Q2 earnings this morning with mixed results hurt by lower rates and is up over 0.5% in pre-market. Cal-Maine Foods Inc (CALM) announced a Q4 earnings loss and is up over 1%. Charles Schwab Corp (SCHW) reported Q2 earnings that beat expectations and is up over 3%. On the other hand, Hasbro Inc (HAS) announced Q2 earnings that exceeded expectations by 2 cents, due in part to Disney Princess doll sales, and is down over 0.5%.

This afternoon after the bell, look out for earnings from International Business Machines Corporation (IBM), Netflix, Inc. (NFLX), Rambus, Inc. (RMBS), VMware, Inc. (VMW), Yahoo! Inc. (YHOO).

Tomorrow morning, Volvo AB ADR B (VOLVY), Tomtom NV (TMOAF), Regions Financial Corporation (RF), TD Ameritrade Holding Corporation (AMTD), Goldman Sachs Group Inc. (GS), Johnson & Johnson (JNJ), Philip Morris International Inc. (PM), UnitedHealth Group Inc. (UNH), LM Ericsson Telephone Company (ERIC), Novartis AG (NVS) and Lockheed Martin (LMT) are expected to report.

AAPL had another strong week, gaining 2.17% on low volume. On Monday, AAPL showed a mountain of strength, scaling from the mid-96 area to mid-97 and ending at 97 on low volume. On Tuesday, AAPL pulsed higher into the mid-97 area on low volume. On Wednesday, AAPL initially floated upwards but got weighed down below 97 on low volume. On Thursday, AAPL boomeranged back strong, up 2 points from 97 to 99 on moderate volume. On Friday AAPL ended down 0.01% on low volume. AAPL opened up at 99.06 to high volume and initially poked above 99, setting an intra-day peak of 99.30 at 9:32am on high volume before conceding to 98, but not without a fight. AAPL spent the rest of the morning in the upper-98 area before taking a lunchtime dip to 98.50 at 12:18pm on low volume. AAPL subsequently bounced back and made a solid attempt to recover 99 in early afternoon trading but eventually fell flat and dipped again, this time struggling for the remainder of the afternoon in the upper-98 area. AAPL ended the OPEX day landing down 1 cent at 98.78 and dropped an additional 23 cents in after-hours to 98.55.

This morning in pre-market, AAPL opened up higher at 99 and fluctuated in a narrow range below and above 99. AAPL is currently up 21 cents at 98.99 as we approach the open.


Classic max-pain is 97.5.


Dollar up on failed Turkey coup; SoftBank's ARM bid boosts shares:
http://www.reuters.com/article/us-global-markets-idUSKCN0ZX0P0

ARM chip designer to be bought by Japan's Softbank:
http://www.bbc.co.uk/news/business-36822806

Oil prices ease as market shrugs off Turkey coup bid:
http://www.reuters.com/article/us-global-oil-idUSKCN0ZY020

U.K. CFO confidence dives after Brexit vote, survey shows:
http://www.bloomberg.com/news/articles/2016-07-17/u-k-cfos-see-post-brexit-cuts-in-spending-hiring-survey-shows

German economy to rebound after weak Q2 according to Bundesbank:
http://www.reuters.com/article/us-germany-economy-bundesbank-idUSKCN0ZY0YK

BofA bond-trading beats estimates as 4 main units post gains:
http://www.bloomberg.com/news/articles/2016-07-18/bank-of-america-profit-falls-as-wealth-management-revenue-drops

SoftBank just became one of Apple's most important suppliers:
http://qz.com/734791/softbank-just-became-one-of-apples-most-important-suppliers/

iPhone 7 video compares size, design and rear camera with iPhone 6s:
http://www.techtimes.com/articles/170259/20160718/iphone-7-video-compares-size-design-and-rear-camera-with-iphone-6s-video.htm

Elon Musk says Autopilot upgrade could be coming:
http://money.cnn.com/2016/07/18/technology/elon-musk-tesla-autopilot-upgrade/

Volkswagen reportedly promises dealer-compensation plan within the next month:
http://www.cnet.com/roadshow/news/volkswagen-reportedly-promises-dealer-compensation-plan-within-the-next-month/

Samsung, Oracle join White House 5G research push:
http://www.zdnet.com/article/samsung-oracle-join-white-house-5g-research-push/

What did the first farmers look like?
http://www.csmonitor.com/Science/2016/0717/What-did-the-first-farmers-look-like

Zika data from the lab to the Web:
http://www.nytimes.com/2016/07/19/health/zika-data-monkey-studies.html

Cute sisters are born holding hands:
http://www.indiatimes.com/news/world/monoamniotic-twin-sisters-who-were-born-holding-hands-are-inseparable-even-after-two-years-258540.html


Today's Economic Calendar:
10:00 NAHB Housing Market Index
4:00 PM Treasury International Capital


Notable earnings this afternoon after the bell: BBCN, BRO, ELS, FDEF, *IBM*, IEX, *NFLX*, *RMBS*, SFBS, WIBC, *VMW*, *YHOO*, STLD

And tomorrow before the open: *VOLVY*, BDC, *TMOAF*, GPC, KHNGF, NEOG, *RF*, *AMTD*, CMA, *GS*, HAFC, *JNJ*, KSU, MBWM, MTG, PLD, *PM*, SNV, TTS, *UNH*, WIT, *ERIC*, KNYJF, *NVS*, *LMT*, TELNF, AKZOF, GWW

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