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Apple Today - 7/22/2016 OPEX (AAPL)

seymour_greenz • July 22nd 2016 09:31:26 AM

Good Morning,

NASDAQ Futures are up 6 with +5 Fair Value, S&P Futures are up 4 with +3 Fair Value and Dow Futures are up 33 on this OPEX Friday, concluding a busy earnings week. Futures were down slightly in early morning then turned green at 2am and peaked just before 5:30am and have settled since but are still up as we await the open.

Asian markets ended down. China dropped 0.86%, Hong Kong dropped 0.16% and Japan led the decline, down 1.09%. European markets are slightly up. Germany is up 0.03%, France is up 0.05% and the UK is leading the advance, up 0.41%.

Commodities are mixed this morning. Oil is down 0.09%, natural gas is up 1.04% and gold is down 0.59%. Unleaded gas is up 0.59% and heating oil is down 0.11%. Metals are down except copper. Meat is down. Cocoa is up while coffee, cotton, corn, wheat and soybeans are down.

US stock-index Futures inch higher amid mixed earnings results. Global stocks fall, UK PMIs flash Brexit recession warning. Brexit causes dramatic drop in UK economy, data suggests.

Athenahealth, Inc. (ATHN) announced a Q2 loss yesterday afternoon and is down nearly 12% in pre-market. Skechers USA Inc. (SKX) is down over 15.5% after reporting Q2 earnings that missed expectations. Pandora Media (P) reported mixed Q2 earnings and is down over 6.5% on guidance. Boston Beer Co. (SAM) beat Q2 profit forecasts and is up over 2.5%. Advanced Micro Devices, Inc. (AMD) reported Q2 earnings that topped expectations and is up nearly 10.5%. E*TRADE Financial Corporation (ETFC) announced Q2 earnings that beat expectations and is up nearly 2%. Starbucks Corporation (SBUX) announced Q2 earnings that missed expectations and is down nearly 1.5%. Schlumberger Limited (SLB) is down slightly after posting a Q2 loss. Visa Inc. (V) reported Q3 earnings and is up over 0.5%. Chipotle Mexican Grill, Inc. (CMG) announced Q2 earnings that were below expectations and is down nearly 2.5%. Capital One Financial Corporation (COF) reported Q2 earnings that missed and is down nearly 2%. AT&T Inc. (T) is down over 0.5% after announcing in-line earnings for Q2 but a drop in TV subscribers. PayPal Holdings, Inc. (PYPL) reported Q2 earnings and is down over 5.5%. Skyworks Solutions, Inc. (SWKS) announced Q3 earnings with mixed results on a revenue miss and is down nearly 5%.

Stanley Black & Decker, Inc. (SWK) reported Q2 earnings this morning that beat expectations and is up nearly 1.5%. American Airlines Group (AAL) announced Q2 earnings that beat estimates and is up nearly 4%. General Electric Company (GE) reported Q2 earnings and is down nearly 3%. Honeywell International, Inc. (HON) is down nearly 3% after announcing mixed Q2 earnings. Synchrony Financial (SYF) beat Q2 profit forecasts and is up nearly 1%. Whirlpool Corporation (WHR) reported Q2 earnings that topped expectations and is up nearly 2%.


AAPL initially sparked up but eventually fizzled out down 0.56% on mild volume. AAPL opened at 100 to high volume and zapped up to set an intra-day high of 101 at 9:48am on moderate volume before sliding back down towards 100 an hour later. AAPL continued to shock downwards through lunchtime and into the afternoon, hitting an intra-day low of 99.13 at 3:10pm on moderate volume before bouncing slightly into the close. AAPL ended the day down 56 cents at 99.40 and dropped 35 additional cents in after-hours to 99.05.

This morning in pre-market, AAPL picked up with yestarday's weak after-hours and went on to take a low volume bounce towards mid-99 before falling back down to the 99-line where it has been in a narrow range for the rest of the morning. AAPL is currently down 36 cents at 99.07 as we approach the open.


Classic max-pain is 98.

US stock-index Futures inch higher amid mixed earnings results:
http://www.bloomberg.com/news/articles/2016-07-22/u-s-index-futures-inch-higher-as-amd-rallies-on-sales-growth

Global stocks fall, UK PMIs flash Brexit recession warning:
http://www.reuters.com/article/us-global-markets-idUSKCN102018

Brexit causes dramatic drop in UK economy, data suggests:
http://www.bbc.com/news/business-36864273

As summer heats up, gas prices stay cool:
http://www.usatoday.com/story/money/2016/07/21/summer-heats-up-gas-prices-stay-cool/87388482/

American Airlines profit beats estimates as costs fall:
http://www.reuters.com/article/us-american-airline-results-idUSKCN1021A9?il=0

Southwest Airlines flight woes cascade into Friday:
http://www.usatoday.com/story/travel/flights/todayinthesky/2016/07/22/southwest-airlines-flight-woes-cascade-into-friday/87430038/

Amazon now offering discounted student loans as a Prime perk:
http://fortune.com/2016/07/22/amazon-wells-fargo-student-loan/

New York terminates tampon tax:
http://www.newsweek.com/new-york-tampon-tax-cuomo-periods-tampons-menstruation-donald-trump-482918?rx=us

Apple Watch sales tumble 55%:
http://arstechnica.co.uk/gadgets/2016/07/apple-watch-smartwatch-market-idc-sales-fall/

Nvidia's powerful new Titan X arrives next month:
http://www.pcmag.com/news/346357/nvidias-powerful-new-titan-x-arrives-next-month

Police 3D print murder victim's finger to unlock his phone:
http://www.telegraph.co.uk/technology/2016/07/22/police-3d-print-murder-victims-finger-to-unlock-his-phone/

Where is all the dark matter?
http://www.csmonitor.com/Science/2016/0721/Looming-large-dark-matter-still-proves-hard-to-pin-down

Female smokers at higher risk for strokes caused by subarachnoid hemorrhage:
http://www.techtimes.com/articles/170668/20160722/female-smokers-at-higher-risk-for-strokes-caused-by-subarachnoid-hemorrhage.htm


Today's Economic Calendar:
9:45 PMI Manufacturing Index Flash
1:00 PM Baker-Hughes Rig Count


Notable earnings on Monday before the open: CPXWF, BMRC, PDMDF, FBR, PETS, RANJF


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