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Apple Today - 8/23/2016 (AAPL)

seymour_greenz • August 23rd 2016 09:28:57 AM

Good Morning,

NASDAQ Futures are up 11 with +15 Fair Value, S&P Futures are up 4 with +5 Fair Value and Dow Futures are up 36 on this crisp Tuesday with a few earnings and a fair dose of economic data, including new home sales at 10am. Futures were up in early morning and popped up even more at 4am and have been holding steady near the highs as we approach the open.

Asian markets ended mixed. China went up 0.16%, Hong Kong ended flat and Japan dropped 0.61%. European markets are up. The UK is up 0.66%, France is up 0.67% and the Germany is leading the advance, up 0.82%.

Commodities are mixed this morning. Oil is down 0.61%, natural gas is up 1.34% and gold is up 0.13%. Unleaded gas is down 1.22% and heating oil is down 0.70%. Metals are up except copper. Meat is mixed. Cocoa, coffee and cotton are up while corn, wheat and soybeans are down.

Global stocks creep up amid Fed limbo, dollar dips.

NQ Mobile Inc. (NQ) reported a profitable Q2 earnings yesterday afternoon that topped expectations and is up 2% in pre-market. ImmunoCellular Therapeutics, Ltd. (IMUC) announced Q2 results and is up 5%.

Best Buy Co. (BBY) reported Q2 earnings that beat estimates and is up over 15% in pre-market. J. M. Smucker Company (SJM) announced a Q1 revenue miss abd is down nearly 3.5%. Toll Brothers Inc. (TOL) announced Q3 results and is up nearly 1%. Trina Solar Limited (TSL) reported Q2 earnings that beat estimates and is up over 1.5%.

This afternoon after the bell, look out for earnings from La-Z-Boy Incorporated (LZB) and Intuit Inc. (INTU).

Tomorrow morning before the open, Express, Inc. (EXPR) are expected to report.


AAPL bobbed like a lure at the 108.5 water-line, ending the day down 0.78% on low volume. AAPL opened down at 109 to high volume and immediately set an intra-day high of 109.10 while then slipping and bouncing on 108.5 and then proceeding to struggle in the upper-108 to mid-108 areas on moderate volume. Shortly after 11am, AAPL dipped below 108 to an intra-day low of 107.85 at 11:44am on mild volume before bouncing back to 108.5 an hour later, also on moderate volume. AAPL spent the rest of the afternoon in a narrow range around 108.5 on low volume and there were no surprises into the close. AAPL ended the day down 85 cents at 108.51 and shed 9 more cents in after-hours to 109.42.

This morning in pre-market, AAPL opened up above 108.5 in conjunction with Futures and made a push towards 109 on low volume as Futures improved, reaching a peak of 108.89 at 5:06am. Later in the morning, gravity seemed to tug on AAPL and it was back near the mid-108 area. AAPL is currently up 8 cents at 108.59 as we approach the open.


Classic max-pain is 107.


Global stocks creep up amid Fed limbo, dollar dips:
http://www.reuters.com/article/us-global-markets-idUSKCN10Y024

Best Buy profits beats estimates, shares surge:
http://www.reuters.com/article/us-best-buy-results-idUSKCN10Y12S

Speedo and 3 other sponsors drop Ryan Lochte:
http://www.usatoday.com/story/sports/olympics/rio-2016/2016/08/22/speedo-ends-sponsorship-ryan-lochte/89099284/

Bank of Montreal profit tops estimates as US banking gains:
http://www.bloomberg.com/news/articles/2016-08-23/bank-of-montreal-profit-rises-4-4-on-gains-in-retail-banking

Mobileye, Delphi to develop self-driving system:
http://www.reuters.com/article/us-delphi-mobileye-idUSKCN10Y1CE

Lyft is said to seek a buyer without success:
http://www.nytimes.com/2016/08/20/technology/lyft-is-said-to-fail-to-find-a-buyer-despite-talks-with-several-companies.html

Man sought by China settles case in New Zealand for $31 million:
http://www.nytimes.com/aponline/2016/08/23/world/asia/ap-as-new-zealand-china-settlement.html

Walmart and Jet.com marriage won't be easy:
http://www.forbes.com/sites/forbesleadershipforum/2016/08/22/walmart-and-jet-com-the-marriage-wont-be-easy/#1dfcf3ba353e

Apple seeds 7th beta of macOS Sierra to developers and public beta testers:
http://www.macrumors.com/2016/08/22/apple-seeds-macos-sierra-beta-7-to-developers/

Does Amazon's rumored $5 music streaming service have a catch?
http://www.tomsguide.com/us/amazon-echo-music-streaming-service,news-23262.html

Google launches Android 7.0 Nougat:
http://www.techtimes.com/articles/174666/20160822/google-launches-android-7-0-nougat-here-is-what-users-can-expect-from-the-new-os.htm

Sony PS4 Neo:
http://www.pcmag.com/news/347210/sony-ps4-neo-everything-we-know

Happy 25th birthday to the World Wide Web:
http://www.cnet.com/news/happy-25th-birthday-to-the-world-wide-web/

Linux rules the world. Where to next?
http://www.zdnet.com/article/linux-rules-the-world-where-to-next/

NASA just found a spacecraft that's been lost for 2 years:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/08/23/nasa-just-found-a-spacecraft-thats-been-lost-for-two-years/

NASA's Curiosity rover sends images of Mars that look like Nevada:
http://www.techtimes.com/articles/174630/20160822/nasas-curiosity-rover-sends-images-mars-look-southwest.htm

Seeing through to a mouse's nervous system:
http://www.nytimes.com/2016/08/23/science/transparent-mouse-udisco-glow.html

Job satisfaction in your 20s and 30s may impact your health later:
http://www.cbsnews.com/news/job-satisfaction-in-your-20s-and-30s-may-impact-your-health-later/


Today's Economic Calendar:
8:55 Redbook Chain Store Sales
10:00 New Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $26B, 2-Year Note Auction


Notable earnings this afternoon after the bell: LTRX, *LZB*, DY, DL, *INTU*, NMBL, EHIC, LCI, APAJF, WFAFF

And tomorrow before the open: AVACF, RY, ECC, GLCNF, KLXI, SOL, *EXPR*, ALOT, EVLV, AMMX, HLUKF, PRSEY, GOGL, HKMPF

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