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Apple Today - 8/09/2016 (AAPL)

seymour_greenz • August 9th 2016 09:30:19 AM

Good Morning,

NASDAQ Futures are up 9 with +7 Fair Value, S&P Futures are up 3 with +2 Fair Value and Dow Futures are up 29 on this Tuesday as the markets flirt with all-time highs among earnings and economic data. Futures were up in early morning and briefly dipped into the red at 2:30am before bouncing up sharply and are now pressing up further for new highs as we await the open.

Asian markets ended mostly up. China gained 0.71%, Hong Kong dropped 0.13% and Japan went up 0.69%. European markets are up. The UK is up 0.41%, France is up 0.62% and Germany is leading the advance, up 0.99%.

Commodities are mostly down this morning. Oil is up 0.28%, natural gas is down 1.75% and gold is down 0.25%. Unleaded gas is down 0.30% and heating oil is up 0.61%. Metals are down. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Markets set to open slightly higher as oil steadies. US productivity unexpectedly falls for 3rd straight quarter.

WebMD Health Corp (WBMD) announced Q2 earnings yesterday afternoon that beat expectations but also a traffic decline and is down nearly 0.5% in pre-market. Rackspace Hosting, Inc. (RAX) reported Q2 earnings that beat expectations and lower forecasts and is down nearly 0.5%. MannKind Corporation (MNKD) announced a Q2 loss of 7 cents per share and is down over 3%. Weibo Corporation (WB) reported Q2 results that beat estimates and is up over 3%. Nuance Communications, Inc. (NUAN) announced a non-adjusted Q3 loss of 4 cents per share, missing expectations and is down over 2%. Hertz Global Holdings, Inc. (HTZ) reported a Q2 unadjusted loss of 28 cents and is down over 1.5%. LendingClub Corporation (LC) announced an adjusted Q2 loss of 9 cents per share is down nearly 4%. EarthLink, Inc. (ELNK) reported Q2 results that beat forecasts and is up nearly 2.5%.

Wayfair (W) reported a Q2 loss this morning and is down nearly 15% in pre-market. Valeant Pharmaceuticals International, Inc. (VRX) announced mixed Q2 results with strong guidance and is up nearly 5.5%. Monster Worldwide, Inc. (MWW) reported an adjusted Q2 loss of 2 cents per share and is up nearly 24% on $429 million Randstad bid. Red Robin Gourmet Burgers, Inc. (RRGB) announced Q2 results that missed forecasts and is down nearly 5%. Coach, Inc. (COH) reported Q4 earnings that beat expectations and is down nearly 3.5%. NRG Energy, Inc. (NRG) announced a Q2 loss and is down over 1%.

This afternoon after the bell, look out for earnings from Yelp (YELP), The Walt Disney Company (DIS), SolarCity Corp. (SCTY), CyberArk Software Ltd. (CYBR), Fossil, Inc. (FOSL), SunPower Corporation (SPWR), Jazz Pharmaceuticals, Inc. (JAZZ), Medivation, Inc. (MDVN), magicJack VocalTec Communications Ltd. (CALL), Eastman Kodak Co. (KODK), Liquidmetal Technologies, Inc. (LQMT) and The Container Store Group, Inc. (TCS).

Tomorrow morning before the open, Aramark Services, Inc. (ARMK), The Wendy's Company (WEN), Polo Ralph Lauren Corporation (RL), Michael Kors Holdings (KORS) are expected to report.

AAPL surfed the momentum wave, up 0.83% on low volume yesterday. AAPL opened up at 107.52 yesterday to high volume and within 30 minutes took a dip to set an intra-day low of 107.16 on moderate volume at 9:54am. AAPL quickly recovered, turned green and claimed 108 by lunchtime. AAPL subsequently spent early afternoon on the 108-line and pressed further up after 3pm into the close to set a rare intra-day high of 108.37 at the close. AAPL ended the day up 89 cents at 108.37 and remained flat in after-hours at 108.37.

This morning in pre-market, AAPL opened higher in conjunction with Futures and claimed the mid-108 area, setting a pre-market high of 108.65 before Oppenheimer "noted" near-term challenges ahead for AAPL. AAPL subsequently slipped into the red and has since bounced in the low-108 area. AAPL is currently down 24 cents at 108.13 as we approach the open.


Classic max-pain is 106.


Markets set to open slightly higher as oil steadies:
http://www.reuters.com/article/us-usa-stocks-idUSKCN10K14X

US productivity unexpectedly falls for 3rd straight quarter:
http://www.bloomberg.com/news/articles/2016-08-09/u-s-productivity-unexpectedly-falls-for-third-straight-quarter

Valeant maintains forecast, elevating goals in second half:
http://www.bloomberg.com/news/articles/2016-08-09/valeant-sales-fall-as-u-s-pricing-pressure-on-drugs-mounts

Twilio's results, forecast beats estimates on strong demand:
http://www.reuters.com/article/us-twilio-results-idUSKCN10J286

Is Walmart more attractive with Jet?
http://www.usatoday.com/story/money/columnist/krantz/2016/08/09/ask-matt-walmart-more-attractive-jet/88398750/

Quadrooter security flaws said to affect over 900 million Android devices:
http://www.cnet.com/news/quadrooter-security-flaws-said-to-affect-over-900-million-android-devices/

Will iPhone 7 have VR?
http://www.zdnet.com/article/why-every-iphone-7-spec-and-rumor-leads-to-virtual-reality/

Apple's iPad identity crisis:
http://qz.com/753259/apples-ipad-identity-crisis/

Apple denies iPhone price fixing in Russia:
http://fortune.com/2016/08/09/apple-denies-iphone-price-fixing-in-russia/

Facebook taking another go at connecting India, testing cheap Express Wi-Fi service:
http://www.cnet.com/news/facebook-having-another-go-at-india-testing-cheap-express-wi-fi-service/

AMD Radeon RX 460 review... an affordable graphics card with bleeding-edge tech:
http://www.pcworld.com/article/3104596/components-graphics/amd-radeon-rx-460-review-an-affordable-graphics-card-with-bleeding-edge-tech.html

Project Sauron malware hidden for five years:
http://www.bbc.com/news/technology-37021957

NASA's new camera:
http://www.theverge.com/2016/8/8/12404970/nasa-hdr-camera-rocket-boosters-test-watch

This 250,000-year-old tool was used to butcher a rhinoceros:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/08/09/this-250000-year-old-tool-was-used-to-butcher-a-rhinoceros/

Could one discovery take on three deadly parasites?
http://www.cnn.com/2016/08/09/health/chagas-sleeping-sickness-leishmaniasis-drug/


Today's Economic Calendar:
6:00 NFIB Small Business Optimism Index
8:30 Productivity and Costs
8:55 Redbook Chain Store Sales
10:00 Wholesale Trade
1:00 PM Results of $24B, 3-Year Note Auction


Notable earnings this afternoon after the bell: LITE, PCTY, PFLT, *YELP*, APPS, ARWR, CIVI, *DIS*, FSFR, OHRP, QNST, *SCTY*, VSAT, MYL, KEYUF, MATR, TTGT, *CYBR*, ELON, VRNS, CDPYF, DIOD, *FOSL*, HLIT, NAME, BMA, LSCC, *SPWR*, AMBC, MCHX, SRT, WAGE, YUME, STXS, EIFZF, HCKT, INFI, *JAZZ*, FLTX, KEYW, HWAY, *MDVN*, MOCO, PTLA, APEI, ASCMA, DPLO, HALO, XON, FSIC, EPIQ, GARS, CDXS, CLNE, CPTA, FENG, WGBS, CTSO, COKE, RYI, SPPI, TAHO, ATHX, GALE, HTM, IMDZ, OMED, SCLN, WATT, ZGNX, BIOA, FTEK, CALA, *CALL*, CHMI, CPRX, *KODK*, LXFR, MGMXF, MTEX, TWER, VEC, IWSY, RTK, *LQMT*, LUNA, XONE, ICTV, KLDX, HTGM, MBII, ADES, *TCS*, NVCN, DHT, MYGN, NVAX, SHSP, CLBS, SGRY, AEZS, HCHC, PEN, SEDG, TBRA, BSTC, OMER, APTO, BPTH, EVRI, FOGO, IPAR, PZRIF, RELY, RKDA, CBAY, DDS, GEVO, BTX, PRPH, AGLNF, BW, CBAUF, CVCO, DDEJF, EDIT, INNV, MMAC, OZMLF, SYUT, ZIOP

And tomorrow before the open: CRWS, *ARMK*, CAE, WSBHF, TEO, IEC, CYRN, GILT, MGIC, PRGO, SUUIF, CPHR, OA, GGB, JD, STKL, EEYUF, FOMX, INFU, ONCE, SEMFF, CGIX, XNET, TLF, CEL, AXAS, BXE, CWCO, STLJF, SLW, EVOTF, ELTK, OTIV, AGI, CDNA, TGEN, SMED, AVT, GCP, AMS, CXSNF, ENAKF, KELYA, LNXSF, OMVJF, SUNW, *WEN*, NEXOF, *RL*, KMPH, AFMD, OXLC, AQMS, *KORS*, BBSI, AG, ALDX, BFLBF, HBGRF, ICL, PUK, SBOT

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