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Apple Today - 10/11/2016 (AAPL)

seymour_greenz • October 11th 2016 10:05:33 AM

Good Morning,

NASDAQ Futures are down 7 with -1 Fair Value, S&P Futures are down 7 with -5 Fair Value and Dow Futures are down 42 as earnings season begins. The economic calendar has a few notable data points this morning, including NFIB Small Business Optimism Index, Redbook Chain Store Sales and the Labor market condition index. Alcoa Inc (AA) kicks off Q3 earnings season this morning and there's a handful of other early birds this afternoon. Futures were down in early morning, hit lows at 5am then made a failed attempt to rise at 7am and are at the lows as we approach the open.

Asian markets ended mixed. China went up 0.56%, Hong Kong dropped 1.27% and Japan gained 0.96%. European markets are up. The UK is up 0.14%, Germany is up 0.26% and France is leading the advance, up 0.29%.

Commodities are mostly down this morning. Oil is down 0.97%, natural gas is down 0.73% and gold is down 0.28%. Unleaded gas is down 0.75% and heating oil is down 0.97%. Metals are down. Meats are down. Cocoa, cotton and soybeans are up while coffee, corn and wheat are down.

Dollar leaves rivals for dust, FTSE hits record high. Alcoa falls as earning disappointment takes shine off split plan. Samsung kills off the Galaxy Note 7 smartphone.

Alcoa Inc (AA) reported Q3 earnings with a rise in profit but that missed expectations and is down over 3.5% in pre-market. Bank of The Ozarks Inc (OZRK) announced Q3 results with record net income up 64.8% to $76 million and is up nearly 2.5%. Fastenal Co (FAST) reported Q3 earnings that missed expectations and is down nearly 0.5%.

This afternoon after the bell, look out for earnings from Blackhawk Network Holdings, Inc. (HAWK) and Barracuda Networks, Inc (CUDA).


AAPL broke "the chains that bind" and rose up 1.74% yesterday on slightly lower than average volume. AAPL opened up at 115.02 to high volume and quickly set an intra-day low of 114.72 at 9:31am on high volume before bouncing up to the mid-115 area within minutes on high volume and pressing on to 116 by 10:30am on strong volume. AAPL continued to shine through the morning and strolled towards the mid-116 area on mild volume by lunchtime. AAPL held the low-116 zone through lunch on low volume and pressed further up above 116.50 after lunch, setting an intra-day high of 116.75 at 2:50pm on mild volume before selling off towards 116 on moderate volume into the close. AAPL ended the day up 1.99 at 116.05 and gained 31 cents in after-hours to 116.36.

This morning in pre-market, AAPL opened up and initially warmed up to the upper-116 area before news surfaced that Samsung is "ending all sales and production of Note 7". AAPL subsequently broke up to the mid-118 area, setting a pre-market high of 119 at 7:53am before pulling back to 118. AAPL is currently up 1.52 at 117.57 as we approach the open.


Classic max-pain is 112.


Dollar leaves rivals for dust, FTSE hits record high:
http://www.reuters.com/article/us-global-markets-idUSKCN12B04E

US stocks set for fall as oil retreats, Alcoa results disappoint:
http://www.nasdaq.com/article/market-snapshot-us-stocks-set-for-fall-as-oil-retreats-alcoa-results-disappoint-20161011-00219

Alcoa falls as earning disappointment takes shine off split plan:
http://www.bloomberg.com/news/articles/2016-10-11/alcoa-misses-estimates-as-128-year-old-firm-bids-goodbye

Samsung kills off the Galaxy Note 7 smartphone:
http://www.nytimes.com/2016/10/12/business/international/samsung-galaxy-note7-terminated.html

Verizon won't drop Yahoo but may seek lower price:
http://fortune.com/2016/10/11/verizon-drop-yahoo-lower-price/

Yum sees faster growth, less risk after splitting off China unit:
http://www.bloomberg.com/news/articles/2016-10-11/yum-sees-faster-growth-less-risk-after-splitting-off-china-unit

What Walmart must do to fight back at Amazon:
http://fortune.com/2016/10/10/walmart-amazon-3/

South African finance minister to face fraud charges, rand plunges:
http://www.reuters.com/article/us-safrica-gordhan-idUSKCN12B0QV

Apple and Samsung reach Supreme Court in patent row:
http://www.bbc.com/news/technology-37614014

3 law firms join iPhone 6 Plus "touch disease" lawsuit against Apple:
http://motherboard.vice.com/read/iphone-6-plus-touch-disease-lawsuit

That's a good one, Google:
http://www.huffingtonpost.in/2016/10/11/google-is-hiring-comedy-writers-so-google-assistant-can-tell-bet/

Is Samsung's snafu Google's golden opportunity?
http://www.theverge.com/2016/10/11/13241094/samsung-galaxy-note-7-google-pixel-phone-competition

Samsung introduces its own high-end cylindrical desktop computer:
http://arstechnica.com/gadgets/2016/10/samsung-introduces-its-own-high-end-cylindrical-desktop-computer/

Here's a first look at Microsoft's new Paint app for Windows 10:
http://www.theverge.com/2016/10/10/13225094/microsoft-paint-windows-10-app-leak-hands-on

Microsoft Dynamics 365 to start rolling out November 1
http://www.zdnet.com/article/microsoft-dynamics-365-to-start-rolling-out-november-1/

Netgear claims its new wireless security camera lasts 6 months on a single charge:
http://www.theverge.com/circuitbreaker/2016/10/11/13229520/arlo-pro-netgear-security-camera-announced

Hinge app wants to help you find a relationship:
https://www.cnet.com/news/swiped-out-hinge-app-wants-to-help-you-find-a-relationship/

South Korea invests $450 million to make awesome robots:
https://www.cnet.com/news/south-korea-has-invested-450-million-to-make-awesome-robots/

New York City flood risk will triple, Western wildfires have doubled:
http://www.csmonitor.com/Science/2016/1010/Climate-studies-New-York-City-flood-risk-will-triple-Western-wildfires-have-doubled

Will Elon Musk scuttle the search for life on Mars?
https://blogs.scientificamerican.com/observations/will-elon-musk-scuttle-the-search-for-life-on-mars/

Pack your bags!
http://www.reuters.com/article/us-usa-space-obama-idUSKCN12B1OL

The real cost of a trip to Mars could be brain damage:
https://www.cnet.com/news/trip-to-mars-brain-damage-space-x-elon-musk-university-of-california-irvine/

World Health Organisation backs tax on sugary foods and drinks:
http://www.bbc.com/news/health-37620087

The next Zika:
https://www.scientificamerican.com/article/the-next-zika/

Why you shouldn't do a hard workout when you're upset:
http://www.livescience.com/56437-strenuous-exercise-emotional-heart-health.html


Today's Economic Calendar:
6:00 NFIB Small Business Optimism Index
8:55 Redbook Chain Store Sales
10:00 Labor market condition index


Notable earnings this afternoon after the bell: *HAWK*, *CUDA*, VOXX, RMCF, AJRD, CNBKA, FBMS, KTCC

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