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Apple Today - 7/26/2016 EARNINGS (AAPL)

seymour_greenz • July 26th 2016 09:31:44 AM

Good Morning,

NASDAQ Futures are up 7 with +2 Fair Value, S&P Futures are down 1 with -1 Fair Value and Dow Futures are down 26 as the tremendous intersection of the peak of earnings season crosses with an incredibly busy day of economic data and FOMC meeting kickoff. Apple's earnings are after the bell. Futures were up slightly in early morning and then took a dip just after 3:30am but have since bounced off the lows and are near even as we await the open.

Asian markets ended mixed. China gained 1.14%, Hong Kong went up 0.62% and Japan dropped 1.43%. European markets are mixed. The UK is up 0.21, Germany is up 0.31% and France is down 0.12%.

Commodities are mixed this morning. Oil is down 1.46%, natural gas is down 1.49% and gold is flat. Unleaded gas is down 1.64% and heating oil is down 0.84%. Metals are up except copper. Meats are up. Coffee, cotton and soybeans are up while cocoa, corn and wheat are down.

Fed seen holding rates steady as inflation watch continues.

GigOptix, Inc. (GIG) reported barely profitable Q2 earnings yesterday afternoon that beat forecasts and is down nearly 5.5% in pre-market. Express Scripts, Inc. (ESRX) announced in-line Q2 results and is up over 0.5%. Las Vegas Sands Corp. (LVS) reported Q2 earnings that missed expectations and is up over 3.5%. Texas Instruments Inc. (TXN) announced Q2 earnings that beat estimates and is up nearly 7.5%

Centene Corporation (CNC) reported Q2 earnings this morning that beat expectations and raised forecast and is up over 1.5% in pre-market. Fidelity National Information Services, Inc. (FIS) is up nearly 1% after announcing Q2 results that beat estimates. Mobileye (MBLY) reported Q2 earnings that beat expectations and announced dissolution of Tesla partnership and is down nearly 18%. Under Armour, Inc. (UA) announced Q2 earnings in-line with expectations and is up nearly 1%. Verizon Communications (VZ) announced Q2 earnings that topped estimates and is down nearly 0.5%. Caterpillar Inc. (CAT) Q2 results topped estimates but cut 2016 profit outlook and is down nearly 1%. McDonald's Corporation (MCD) reported Q2 earnings, indicating that sales growth missed estimates and is down over 2.5%. Baxter International Inc (BAX) is up nearly 1% after reporting Q2 results that beat estimates and raising full-year guidance. JetBlue Airways Corporation (JBLU) is up nearly 1% after announcing Q2 profit that beat forecasts. 3M Company (MMM) reported Q2 earnings that met forecasts and is down nearly 1%. Avery Dennison Corporation (AVY) is up nearly 1.5% after reporting Q2 earnings that topped estimates. Sirius XM Holdings Inc. (SIRI) announced Q2 earnings that missed estimates and is up nearly 3.5%. Valero Energy Corporation (VLO) reported Q2 earnings that beat profit estimates and is up nearly 1%.

This afternoon after the bell, look out for earnings from Akamai Technologies, Inc. (AKAM), Panera Bread Company (PNRA), Tanger Factory Outlet Centers, Inc. (SKT), iRobot Corporation (IRBT), Twitter, Inc. (TWTR), Gildan Activewear Inc. (GIL), Citrix Systems, Inc. (CTXS), Apple Inc. (AAPL), Buffalo Wild Wings, Inc. (BWLD), Edwards Lifesciences Corp (EW), United States Steel Corporation (X), Ameriprise Financial, Inc. (AMP), Cavium Networks, Inc. (CAVM) and Juniper Networks (JNPR).

Tomorrow morning, Goodyear Tire & Rubber Co. (GT), Ingersoll-Rand plc (IR), The Coca-Cola Company (KO), ARM Holdings, plc (ARMH), Owens Corning (OC), Wix.com (WIX), Equifax Inc. (EFX), Dr Pepper Snapple Group, Inc. (DPS), Garmin Ltd. (GRMN), T-Mobile US, Inc. (TMUS), Marriott International, Inc. (MAR), Six Flags Entertainment Corporation (SIX), Waste Management, Inc. (WM), Angie's List, Inc. (ANGI), Care.com, Inc. (CRCM), Extra Space Storage, Inc. (EXR), Hilton Worldwide Holdings (HLT), American Capital Agency Corp. (AGNC), Corning Inc. (GLW), The Boeing Company (BA), Comcast Corporation (CMCSA), General Dynamics Corporation (GD), Northrop Grumman Corporation (NOC), Rent-A-Center Inc. (RCII), Tetra Tech, Inc. (TTEK), Level 3 Communications, Inc. (LVLT) and Deutsche Bank AG (DB) are expected to report.


AAPL painted a red picture yesterday, down 1.34% on moderate volume. AAPL opened at 98.20 on high volume, struggled a bit and then turned green to set a high of 98.84 on relatively high volume before dripping down to 98 by the lunch bell and falling further off the wall later in the afternoon, reaching a low of 96.92 at 3:14pm on moderate volume before bouncing slightly into the close. AAPL ended the day down 1.32 at 97.34 and dropped 20 more cents in after-hours to 97.14.

This morning in pre-market, AAPL picked up with yesterday's after-hours and then gravitated down around 97. AAPL perked up little later in the morning making an attempt at the low-97 area. AAPL is currently down 19 cents at 97.15 as we approach the open.


Classic max-pain is 97. AAPL reports earnings this afternoon after the bell.


Fed seen holding rates steady as inflation watch continues:
http://www.reuters.com/article/us-usa-fed-idUSKCN1060D5

Yen hits 2-week high as Japanese stimulus expectations dialled back:
http://www.reuters.com/article/us-global-forex-idUSKCN10601Y?il=0

Verizon reports bigger-than-expected fall in quarterly revenue:
http://www.reuters.com/article/us-verizon-results-idUSKCN1061AC

Caterpillar posts lower second-quarter earnings, lowers 2016 outlook:
http://www.reuters.com/article/us-caterpillar-results-idUSKCN1061DL

McDonald's misses profit forecasts on refranchising charges:
http://www.usatoday.com/story/money/2016/07/26/mcdonalds-second-quarter-earnings/87538256/

Apple places former hardware exec Bob Mansfield in charge of Project Titan:
http://www.techtimes.com/articles/171354/20160726/apple-places-former-hardware-exec-bob-mansfield-in-charge-of-project-titan.htm

Microsoft just made it way easier to write a research paper with Word:
http://www.theverge.com/2016/7/26/12283814/microsoft-word-researcher-editor-features

Amazon to expand drone testing through British government partnership:
http://time.com/4423624/amazon-drone-testing-britain/

Nvidia Quadro P6000 is "world's fastest GPU":
http://www.techtimes.com/articles/171435/20160726/nvidia-quadro-p6000-rocks-24gb-ram-whopping-3840-cores-worlds-fastest-gpu-for-vr.htm

AMD's Polaris-based Radeon Pro WX GPUs can create VR content for under $1,000:
http://www.pcworld.com/article/3099993/components-graphics/amds-radeon-pro-wx-gpus-can-create-vr-content-for-under-1000.html

New lithium-oxygen battery greatly improves energy efficiency, longevity:
http://news.mit.edu/2016/new-lithium-oxygen-battery-greatly-improves-energy-efficiency-longevity-0725

Meet Luca, the ancestor of all living things:
http://www.nytimes.com/2016/07/26/science/last-universal-ancestor.html

Why we still don't know all of the ways you can contract Zika:
http://qz.com/740196/why-we-still-dont-know-all-of-the-ways-you-can-contract-zika/


Today's Economic Calendar:
FOMC meeting begins
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
9:45 PMI Services Index Flash
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:00 Richmond Fed Mfg.
10:00 New Home Sales
1:00 PM Results of $34B, 5-Year Note Auction


Notable earnings this afternoon after the bell: AIZ, *AKAM*, AKR, ARI, NCR, *PNRA*, RGC, RSYS, SGEN, *SKT*, USNA, CNO, CUZ, *IRBT*, *TWTR*, DDR, KN, NUVA, AAT, BXMT, CSV, CVA, FSP, PSB, ZIXI, OIS, BJRI, HURN, MDR, QTS, ALDR, JBT, PEI, TGB, *GIL*, GMED, WES, VIV, BVN, RRC, UHS, VICR, GLF, AEHR, CHFC, LLTC, *CTXS*, GHL, OSBC, RUSHA, UIS, *AAPL*, BANR, CEB, ETH, UDR, ZION, EQR, ASH, AXS, *BWLD*, BXP, CHRW, CINF, *EW*, HUBG, HXSCL, MTSI, NANO, RHI, RNR, STL, TRMK, TRU, TSS, ULTI, WNC, *X*, *AMP*, BCR, *CAVM*, *JNPR*, PMNXF, RM, VR, APC, FTK, ILMN, MTCH, PAR, CB, DOX, KTCC, TRNS, BOOT, LNDC, UMBF

And tomorrow before the open: AHL, SIGI, UFS, OI, RSGUF, ENTG, *GT*, *IR*, *KO*, ACGL, KS, *ARMH*, CG, IFCZF, *OC*, TUWLF, *WIX*, AEM, CDE, *EFX*, HMCBF, ORLY, PXD, SCI, ETM, FLIR, HUN, PPC, Q, WOOF, KNL, HT, PSA, *DPS*, DX, GCI, *GRMN*, MDCO, SCOR, *TMUS*, WCIC, CFPUF, *MAR*, TYL, AFRAF, BELFB, CFPZF, LCSHF, LH, *SIX*, TKC, *WM*, CNSWF, SJW, WIRE, WRE, ESRT, *ANGI*, *CRCM*, KOF, *EXR*, KRA, ROIC, DXYN, FMX, ANIK, CBD, DEL, EQY, MMLP, ORC, QEP, TILE, BLDP, CRI, ESV, FOE, LBLCF, KWR, BASFY, *HLT*, TPH, FDML, SALT, DCIX, TORSF, SNAK, TRK, BKCC, PEIX, NYCB, SEIC, CMRE, UFI, NSC, *AGNC*, AVX, BAYZF, FCAU, FCF, *GLW*, POL, R, SPG, SVU, TMK, ANTM, *BA*, BOKF, BSBR, BSMX, CFR, *CMCSA*, DHX, EVER, EVR, FSV, *GD*, GIB, GSK, HES, MDLZ, MHH, MPX, NDAQ, NHTC, *NOC*, OSAGF, OUKPF, PB, RES, ROK, ROL, SC, SLAB, SLGN, SO, SONS, STT, SUP, UCBI, UMC, USAP, UVSP, VLY, WEX, CMO, CVTI, DRE, IBKC, KEX, NEU, *RCII*, SU, *TTEK*, UNM, AUO, *LVLT*, MHO, MO, STM, *DB*, I, NEE, NEP, RTIX, TWODF, THNRF, CBT, SRDX, WEC, IMS, STRA, LL, BAH, MMYT, AI, ARCVF, CAPMF, CX, PEUGF, PMMAF, RNSHF, STO, TI, TLPFF

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