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Apple Today - 10/19/2016 (AAPL)

seymour_greenz • October 19th 2016 09:46:23 AM

Good Morning,

NASDAQ Futures are down 4 with -9 Fair Value, S&P Futures are up 1 with -1 Fair Value and Dow Futures are up 12 as China reports its economy grew at 6.7% in Q3 and ahead of an "unexpected" new product announcement from Tesla and the 3rd presidential debate tonight at 9pm. Today's economic calendar is fairly busy with MBA Mortgage Applications and Housing Starts expected this morning and the Fed's Beige Book due this afternoon, offering insight into current economic conditions. Futures were up slightly in early morning and took a dive into negative territory at 4am, have since bounced back somewhat and are near even as we approach the open.

Asian markets ended mostly up. China gained 1.43%, Hong Kong dropped 0.38% and Japan went up 0.58%. European markets are also mostly up. The UK is down 0.10%, Germany is up 1.01% and France is up 1.20%.

Commodities are mixed this morning. Oil is up 1.59%, natural gas is down 2.30% and gold is up 0.70%. Unleaded gas is down 0.08% and heating oil is up 1.24%. Metals are up except copper. Meats are mostly up. Cocoa, coffee, cotton, corn and wheat are down while soybeans are flat.

China Q3 GDP grows 6.7% as construction booms, debt rises.

Intel Corporation (INTC) reported Q3 earnings yesterday afternoon that beat expectations but is down over 5% in pre-market on a weaker than expected outlook. Cree, Inc. (CREE) announced Q1 results with adjusted earnings of 15 cents per share that topped expectations and is down nearly 12%.

Seagate Technology (STX) reported Q1 results this morning with adjusted earnings of 55 cents per share that topped expectations and is up nearly 2% in pre-market. Morgan Stanley (MS) reported Q3 earnings with a 61.7% jump in profit due to trading and is up over 1%. Halliburton Company (HAL) is up over 1.5% after reporting a surprise Q3 profit that beat expectations of a loss. Abbott Laboratories (ABT) announced a Q3 loss that beat estimates and is down nearly 2.5%.

This afternoon after the bell, look out for earnings from WD-40 Company (WDFC), American Express Company (AXP), Citrix Systems, Inc. (CTXS), Kinder Morgan, Inc. (KMI), Mattel, Inc. (MAT), Tractor Supply Company (TSCO) and eBay Inc. (EBAY).

Tomorrow morning before the open, Sonoco Products Co. (SON), IMAX Corporation (IMAX), Walgreens Boots Alliance, Inc. (WBA), Textron Inc (TXT), Alaska Air Group, Inc. (ALK), The Bank of New York Mellon Corporation (BK), Quest Diagnostics Incorporated (DGX), The Travelers Companies, Inc. (TRV), Union Pacific Corporation (UNP), Verizon Communications (VZ), American Airlines Group (AAL), Dunkin' Brands (DNKN) are expected to report.

AAPL balanced up on the 118-line yesterday and tipped towards the end of the day, ending down 0.07% on low volume. AAPL opened up at 118 to heavy volume and dipped into the upper-117 area at 9:36am on strong volume before bouncing back above 118 by 9:48am on relatively high volume and then dipping back into the upper-117 area at 10:22am on more fairly strong volume. AAPL bounced back again and continued on through the morning and lunchtime, setting an intra-day high at of 118.21 at 12:38pm on low volume before slipping below 118 on moderate volume. AAPL made a last attempt to hold 118 shortly before 1:30pm on low volume before tipping down to the upper-117 area on low volume by 3pm and then dropping sharply after 3pm to the mid-117 area on moderate volume. AAPL ended the day down 8 cents at 117.47 and dropped 6 more cents in after-hours to 117.41.

This morning in pre-market, AAPL opened lower near 117 and fought back to the mid-117 area by 6am, setting a pre-market high of 117.85 at 6:26am. Later in the morning, AAPL dipped in sympathy with a report from Apple supplier Laird warning of sharply lower profits, tipping AAPL to drop into the low-117 zone again. AAPL is currently down 13 cents at 117.34 as we approach the open.


Classic max-pain is 113. Tesla is holding a new product event today and the 3rd presidential debate is tonight at 9pm.


China Q3 GDP grows 6.7% as construction booms, debt rises:
http://www.reuters.com/article/us-china-economy-gdp-idUSKCN12J060

Morgan Stanley beats estimates on surge in bond-trading revenue:
http://www.bloomberg.com/news/articles/2016-10-19/morgan-stanley-profit-rises-57-on-surge-in-bond-trading-revenue

Yahoo profit beats but some analysts worry over effect of hack:
http://www.reuters.com/article/us-yahoo-results-idUSKCN12I2L0

Starbucks plans to double number of locations in China by 2021:
http://www.bloomberg.com/news/articles/2016-10-19/starbucks-plans-to-double-number-of-locations-in-china-by-2021

New Macs to be unveiled at October 27 event, claims report:
http://www.zdnet.com/article/new-macs-to-be-unveiled-at-october-27-event-claims-report/

Apple is reportedly putting a dynamic E Ink keyboard in 2018 MacBooks:
http://www.theverge.com/2016/10/19/13328710/apple-e-ink-keyboard-macbook-sonder-rumors

iPhone 8's AI Boost Will Have Surprising Benefit:
http://www.tomsguide.com/us/iphone-8-ai-battery-life,news-23685.html

The Google phone is almost as good as the iPhone?
http://www.theverge.com/2016/10/19/13315354/google-pixel-vs-iphone-comparison-specs-value-camera

Microsoft's new breakthrough with AI that's as good as humans at listening:
http://www.zdnet.com/article/microsofts-new-breakthrough-ai-thats-as-good-as-humans-at-listening-on-the-phone/

Things just keep getting worse for Samsung:
http://bgr.com/2016/10/19/samsung-note-7-recall-lawsuit-lost-business/

You may soon be able to buy broadband from Amazon Prime in Europe:
http://www.wired.co.uk/article/amazon-internet-provider

Yahoo says traffic rose despite hacking that could alter Verizon deal:
http://www.nytimes.com/2016/10/19/technology/yahoo-says-traffic-rose-despite-hacking-that-could-alter-verizon-deal.html?_r=0

This tool tells you if you're making what you're worth:
http://www.bloomberg.com/news/articles/2016-10-19/this-tool-tells-you-if-you-re-making-what-you-re-worth

Watch the ExoMars spacecrafts arrive at Mars:
http://www.theverge.com/2016/10/19/13323450/esa-exomars-mission-spacecraft-landing-on-mars-watch-live-stream

NASA captures stunning images of Mars in ultraviolet:
http://www.huffingtonpost.co.uk/entry/nasa-captures-stunning-images-of-mars-in-ultraviolet_uk_58074c7ee4b07ebc072bd11c

NASA predicts 2016 will be the hottest year on record:
http://www.huffingtonpost.com/entry/2016-hottest-year-nasa_us_5806e661e4b0b994d4c28583

Cave paintings reveal clues to mystery Ice Age beast:
http://www.bbc.com/news/science-environment-37649597

Beware hot peppers!
https://www.washingtonpost.com/news/morning-mix/wp/2016/10/18/he-ate-an-extremely-spicy-ghost-pepper-hours-later-doctors-found-a-hole-in-his-throat/

Quit the soda if you want to become pregnant:
http://www.telegraph.co.uk/news/2016/10/17/women-who-regularly-consume-soft-drinks-may-be-reducing-their-ch/


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Housing Starts
10:00 Atlanta Fed's Business Inflation Expectations
10:30 EIA Petroleum Inventories
2:00 PM Fed's Beige Book


Notable earnings this afternoon after the bell: HNI, SCSS, FTI, KALU, VMI, BJRI, LHO, HLX, GMKYY, HCCI, *WDFC*, RCI, *AXP*, BDN, BRKL, BXS, CATY, CCK, CLB, CNS, *CTXS*, CVBF, EGBN, EGP, EWBC, EXPO, FBNK, GGG, HXL, *KMI*, LRCX, LSTR, *MAT*, MLLGF, OSBC, PFBC, PKG, RLI, SLG, SLM, STLD, TBI, TSC, *TSCO*, UMPQ, URI, SFNC, FNB, *EBAY*, CVTI, XLNX, NVEC, GSBC, CTO

And tomorrow before the open: MNI, FAF, GPI, NWE, *SON*, STC, WBC, DAN, LAWS, POOL, RS, SYNT, BLX, ICLR, JAKK, LAD, *IMAX*, NANX, ATGFF, *WBA*, SPCB, KPELF, PLD, BKU, ITW, *TXT*, UBSH, ADS, *ALK*, AMRB, BANC, *BK*, *DGX*, DHR, DST, FITB, HOMB, IIIN, KCG, NUE, NURO, PHM, PPG, SASR, SNA, STBA, *TRV*, *UNP*, UTEK, UTL, *VZ*, *AAL*, ACU, CBF, GNTX, ATLKY, SXC, SXCP, WNS, *DNKN*, LODE, MNRO, RHHBY, GATX

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