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Apple Today - 10/12/2016 (AAPL)

seymour_greenz • October 12th 2016 09:45:26 AM

Good Morning,

NASDAQ Futures are down 12 with +1 Fair Value (semi-rare), S&P Futures are down 4 with flat Fair Value and Dow Futures are down 33 as we hit mid-week and await word from the Fed at 2pm, potentially on any clues into raising interest rates, which will be capping off the daily economic calendar. A handful of more "early earnings" are expected tomorrow morning, including Delta Air Lines, Inc. (DAL) and Unilever Plc (UL). Futures were up in early morning, peaked shortly after 1am, then sunk at 3am, hitting lows an hour later. Despite an attempt at recovery just before 7:30am, Futures are setting new lows as we approach the open.

Asian markets ended down. China went down 0.22%, Hong Kong dropped 0.60% and Japan led the decline, down 1.09%. European markets are also down. The UK is down 0.25%, France is down 0.17% and Germany is leading the decline, down 0.32%.

Commodities are mixed this morning. Oil is up 0.43%, natural gas is down 0.90% and gold is down 0.09%. Unleaded gas is up 0.24% and heating oil is up 0.06%. Metals are down except copper. Meats are mixed. Coffee, corn and soybeans are up while cocoa, cotton and wheat are down.

Global markets weighed by tech stocks, Fed minutes in focus. Fed minutes could show depth of hawkish rebel camp in FOMC. Pound steadies after recent slump.

Blackhawk Network Holdings, Inc. (HAWK) is down slightly in pre-market after posting a Q3 loss yesterday afternoon that missed expectations. On the other hand, Barracuda Networks, Inc (CUDA) reported Q2 earnings and revenue that beat expectations by 8 cents and is up nearly 9.5%.

This afternoon after the bell, look out for earnings from CSX Corporation (CSX).

Tomorrow morning before the open, Winnebago Industries, Inc. (WGO), Delta Air Lines, Inc. (DAL), First Republic Bank (FRC) and Unilever Plc (UL) are expected to report.

AAPL "steamrolled" over Samsung's Note 7 yesterday as the South Korean company "sent up the white flag" and AAPL ended up 0.22% on huge volume despite a nasty widespread market selloff. AAPL opened up at 117.64 to huge volume and rolled on up to an intra-day high of 9:46am on high volume before the broader market dragged AAPL steadily lower throughout the day, breaking 118 at 10am, 117 during lunchtime and scraping a low of 116.20 on high volume at 2:18pm on high volume before bouncing and struggling to hold the mid-116 area on mild volume and then slipping again into the close. AAPL ended the day up 25 cents at 116.30 and gained 19 cents in after-hours to 116.49.

This morning in pre-market, AAPL opened up higher in conjunction with Futures and flickered around the 117-area before weakening Futures dragged AAPL down towards the mid-116 area later in the morning. However, after OTR Global upgraded AAPL from negative to positive shortly before the bell, AAPL spiked up above 117, setting a pre-market high of 117.25 before pulling back to 117. AAPL is currently up 70 cents at 117 as we approach the open.


Classic max-pain is now 115. FOMC minutes at 2pm.


Global markets weighed by tech stocks, Fed minutes in focus:
http://www.usnews.com/news/business/articles/2016-10-12/asian-stocks-dip-taking-cue-from-wall-street-doubts-on-oil

Fed minutes could show depth of hawkish rebel camp in FOMC:
http://www.bloomberg.com/news/articles/2016-10-11/fed-minutes-could-show-strength-of-hawkish-rebel-camp-in-fomc

Pound steadies after recent slump:
http://www.bbc.com/news/business-37628354

Comcast to pay $2.3 million FCC fine over billing practices:
http://variety.com/2016/biz/news/comcast-fcc-fine-1201885295/

Wells Fargo's basis point solution:
https://www.bloomberg.com/gadfly/articles/2016-10-12/wells-fargo-can-limit-damage-with-a-basis-point-solution

2016 Nobel winner for economics says CEO pay contracts are too complex:
http://fortune.com/2016/10/12/2016-nobel-winner-economics-holmstrom-ceo-pay-contracts-too-complex/

Crowd gathers to pray for hospitalized Thai king, PM to meet prince:
http://www.reuters.com/article/us-thailand-king-idUSKCN12C1A2

Apple is opening a research and development center in Shenzhen, China's hardware mecca:
http://qz.com/807039/apple-aapl-is-opening-a-research-and-development-center-in-shenzhen-chinas-hardware-mecca/

Samsung looks likely to win Supreme Court appeal against damages in Apple patent case:
https://9to5mac.com/2016/10/12/samsung-apple-patent-trial-supreme-court-2/

Microsoft HoloLens comes to UK:
http://www.bbc.com/news/technology-37630601

Windows 10 MacBook challenger:
http://www.zdnet.com/article/windows-10s-macbook-challenger-hp-revamps-spectre-x360-with-thinner-case-and-bigger-battery/

Amazon’s full on-demand streaming music service launches today:
http://www.theverge.com/2016/10/12/13244158/amazon-music-unlimited-launch-echo-availability-price

NYT claims Samsung is clueless why the Note 7 keeps on catching fire:
http://www.theverge.com/2016/10/12/13254790/samsung-has-no-idea-why-the-note-7-keeps-catching-fire-nyt-claims

Musk's wild ride:
https://www.bloomberg.com/features/2016-elon-musk-companies/

Chinese scientists made worms produce super silk by feeding them a nanotube diet:
https://www.washingtonpost.com/news/morning-mix/wp/2016/10/12/chinese-scientists-made-worms-produce-super-silk-by-feeding-them-a-nanotube-diet/

Should humans go to Mars?
http://www.csmonitor.com/Science/2016/1011/Should-humans-go-to-Mars-President-Obama-says-yes.-video

New dwarf planet found in our solar system:
http://www.space.com/34358-new-dwarf-planet-found-2014-uz224.html

Extinct river dolphin sighted?
http://news.nationalgeographic.com/2016/10/baiji-extinct-river-dolphin-china-sighting-conservation/

These large US cities lead in healthy, active living:
http://www.techtimes.com/articles/181955/20161012/these-large-us-cities-lead-in-healthy-active-living-heres-why.htm

Dementia linked to sudden low blood pressure and dizziness:
http://www.bbc.com/news/health-37618624

Americans taking fewer multivitamins but more vitamin D, omega-3s:
http://www.cnn.com/2016/10/11/health/dietary-supplement-trends-steady/

McDonald's mascot to limit appearance due to creepy clown craze:
http://www.bbc.com/news/world-37630460


Today's Economic Calendar:
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $24B, 3-Year Note Auction
1:00 PM Results of $20B, 10-Year Note Auction
2:00 PM FOMC minutes


Notable earnings this afternoon after the bell: *CSX*, SAR, DRWI, NEPT, EXFO

And tomorrow before the open: MYCC, VAC, COLFF, *WGO*, LNN, *DAL*, *FRC*, FURCF, *UL*, SKYAY

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