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Apple Today 9/14/2016 (AAPL)

seymour_greenz • September 14th 2016 10:05:26 AM

Good Morning,

Welcome to the middle of the week. NASDAQ Futures are up 15 with +21 Fair Value, S&P Futures are up 5 with +7 Fair Value and Dow Futures are up 33 after a "roller-coaster" start to the week and hitting a particularly sour market note yesterday, with the notable exception of AAPL which rallied against the tide and ended up nearly 2.5%. The calendar shows mortgage applications, import/export prices and petroleum inventories data due in this morning as well as a very light dusting of earnings again. Futures were up in early morning, suddenly dipped just before 4am, bounced back and are now near the highs as we approach the open.

Asian markets ended down. China dropped 0.68%, Hong Kong went down 0.11% and Japan led the decline, down 0.69%. European markets are up. Germany is up 0.39%, France is squeaking up by 0.04% and the UK is leading the advance, up 0.57%.

Commodities are mostly up this morning. Oil is up 0.04%, natural gas is up 2.06% and gold is up 0.16%. Unleaded gas is up 0.09% and heating oil is down 0.78%. Metals are up. Meat is down sharply. Cocoa, coffee, corn and soybeans are up while cotton and wheat are down.

Bayer confirms $66bn Monsanto takeover. Bond sell-off keeps investors on edge. BOJ to make negative rates centerpiece of future easing.

Cracker Barrel Old Country Store, Inc. (CBRL) reported Q4 earnings that beat estimates with a profit of $2.12 per share but offered a lower than expected outlook and is down nearly 2.5% in pre-market.

Tomorrow morning before the open NetSol Technologies Inc. (NTWK) is expected to report.

AAPL showed a mountain of strength yesterday, rising up 2.38% on tremendous volume due to reports from both carriers T-mobile and Sprint that iPhone 7 preorder sales data appear to be crushing low initial expectations. Buoyed in pre-market by this news, AAPL opened up over 2 points higher at 107.50 to huge volume, immediately getting the 107.24 intra-day low out of the way and confidently hiked up to a brisk peak of 108.79 at 9:42am on crushing volume. After summitting, AAPL briefly dipped to the sub-108 area on strong volume as 10am ticked by before resuming into the mid-108 area on moderate volume and holding the above-108 line on moderate but rapidly tapering volume into noon. By early afternoon, AAPL found a narrow but solid range in the low-108 area with periodic attempts towards mid-108 and a low-volume test of the upper-107 area shortly after 1pm, followed by a bounce. AAPL "lost a little steam" among a sour macro-environment later in the afternoon and shyly dipped into the upper-107 area again towards the close, ended the day up 2.51 at 107.95 and dropped 14 cents in after-hours to 107.81.

This morning in pre-market, AAPL opened up higher in conjunction with Futures and an outperform affirmation from Pacific Crest. Among a slew of optimistic press for iPhone sales , AAPL continued to rally throughout the morning, reaching a pre-market crescendo of 109.15 at 7:24am and then rest dipping to mid-108 to bounce back into the upper-108 area. AAPL is currently up 80 cents at 108.80 as we approach the open.

Classic max-pain is 105.

Bayer confirms $66bn Monsanto takeover
http://www.bbc.com/news/business-37361556

Bond sell-off keeps investors on edge:
http://www.reuters.com/article/us-global-markets-idUSKCN11K03Q

BOJ to make negative rates centerpiece of future easing:
http://www.reuters.com/article/us-japan-economy-boj-idUSKCN11K0NF?il=0

Bayer, Monsanto confront global review as farmer options shrink:
http://www.bloomberg.com/news/articles/2016-09-14/bayer-monsanto-confront-global-review-as-farmer-options-shrink

Uber debuts self-driving vehicles in landmark Pittsburgh trial:
http://www.reuters.com/article/us-uber-autonomous-idUSKCN11K12Y

Good news! We're as rich as we were in 1998:
http://www.newyorker.com/business/currency/good-news-were-as-rich-as-we-were-in-1998

Citigroup sees markets revenue up mid single digits:
http://www.bloomberg.com/news/articles/2016-09-14/citi-sees-third-quarter-markets-revenue-up-mid-single-digits

The Anti-Amazon?
http://fortune.com/2016/09/13/tesla-amazon-stock-solarcity-jim-chanos/

Oprah's not enough for Weight Watchers:
https://www.bloomberg.com/gadfly/articles/2016-09-13/weight-watchers-ceo-resigns-more-help-wanted

Apple Watch Series 2 review: work it out
http://www.theverge.com/2016/9/14/12906348/apple-watch-2-review-new-features

Proterra's new electric bus Catalyst E2 can go 350 miles on a single charge:
http://www.techtimes.com/articles/177394/20160913/proterras-new-electric-bus-catalyst-e2-can-go-350-miles-on-a-single-charge.htm

Amazon's Echo speakers head to UK and Germany:
http://www.bbc.com/news/technology-37351342

Is Microsoft killing off its Band fitness tracker?
http://www.theverge.com/2016/9/14/12912770/microsoft-band-fitness-tracker-discontinued

Samsung's Galaxy Note 7 woes:
http://www.pcmag.com/commentary/347849/samsungs-galaxy-note-7-woes-are-not-about-the-battery

Twitter app brings free NFL games to Apple TV, Amazon Fire TV, and the Xbox One:
http://www.theverge.com/2016/9/14/12912636/twitter-nfl-live-streaming-apple-tv-amazon-fire-tv-xbox-one

3 ways Android Nougat is a must for multitaskers:
http://www.pcworld.com/article/3113709/android/3-ways-android-nougat-is-a-must-for-multitaskers.html

Rescuers help Russians trapped by polar bears in Arctic:
http://www.upi.com/Top_News/World-News/2016/09/14/Rescuers-help-Russians-trapped-by-polar-bears-in-Arctic/6481473854717/

NASA launches airborne mission for Great Barrier Reef study:
http://www.techtimes.com/articles/177603/20160914/nasa-launches-airborne-mission-for-great-barrier-reef-study.htm

California bans killer whale captivity and breeding:
http://www.cnn.com/2016/09/14/us/orca-killer-whales-california-ban/

Japan's Sakurajima volcano due for major eruption within 30 years, say scientists:
http://www.bbc.com/news/world-asia-37358316

Gaia space telescope plots a billion stars:
http://www.bbc.com/news/science-environment-37355154

Exploding rockets are not always a bad thing:
http://www.space.com/34051-exploding-rockets-arent-always-bad.html

50 years ago sugar industry quietly paid scientists to point blame at fat:
http://www.npr.org/sections/thetwo-way/2016/09/13/493739074/50-years-ago-sugar-industry-quietly-paid-scientists-to-point-blame-at-fat

Pregnant women anxious as Florida's Zika test results take weeks:
http://www.nytimes.com/2016/09/13/us/zika-test-delays-florida-pregnant.html

45 potential toxins found in household dust:
http://health.usnews.com/health-care/articles/2016-09-14/45-potential-toxins-found-in-household-dust

Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Import/Export Prices
10:30 EIA Petroleum Inventories

Notable earnings this afternoon after the bell: ASPU, CLC, UWN, APOG, ZODFF, LAKE, APIC

And tomorrow before the open: *NTWK*, GROW, GSOL, STB

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