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Apple Today - 10/24/2016 (AAPL)

seymour_greenz • October 24th 2016 10:09:00 AM

Good Morning,

Welcome back. NASDAQ Futures are up 28 with +27 Fair Value, S&P Futures are up 9 with +9 Fair Value and Dow Futures are up 76 on the last full week of October, frightfully close to Halloween and the 2016 presidential election. AT&T Inc. (T) and Time Warner Inc (TWX) have agreed to an $85 billion takeover deal, one of the biggest media deals in history and will soon be in the hands of approval-or-not by anxious regulators. Today's economic calendar is peppered with Fed appearances and the earnings calendar train is nearing full speed with a huge number of companies reporting after the bell and tomorrow morning, including Visa Inc. (V), Sonic Corp. (SONC), General Motors Company (GM), Lockheed Martin (LMT), 3M Company (MMM), The Procter & Gamble Company (PG), Sprint Corporation (S) and Merck & Co Inc. (MRK), to name a few. Futures were up in early morning, peaked at 4am and have backed off slightly but are still near the highs as we approach the open.

Asian markets ended up. China led the advance, up 1.21%, Hong Kong gained 0.98% and Japan went up 0.29%. European markets are up. The UK is up 0.02%, France is up 0.88% and Germany is leading the advance, up 0.90%.

Commodities are mixed this morning. Oil is down 1.28%, natural gas is down 0.40% and gold is down 0.21%. Unleaded gas is down 0.75% and heating oil is down 0.38%. Metals are up except gold. Meats are up. Coffee and soybeans are up while cocoa, cotton, corn and wheat are down.

Spain, data lead Europe higher after breakthrough for PM Rajoy. European bonds rally as political, economic risks diminish. Japan's exports fall for 12th straight month. What does a AT&T-Time Warner deal mean for consumers?

T-Mobile US, Inc. (TMUS) reported Q3 results this morning with a 17.8% increase in revenue that beat expectations and is up over 4% in pre-market. Restaurant Brands International Inc. (QSR) is up over 2% after reporting Q3 results. B/E Aerospace Inc. (BEAV) announced Q3 results that topped expectations and is up over 16.5%. On the other hand, Kimberly-Clark Corporation (KMB) announced Q3 results with a profit of $1.52 per share that missed expectations and is down nearly 3.5%.

This afternoon after the bell, look out for earnings from Rambus, Inc. (RMBS), Swift Transportation Company (SWFT), Visa Inc. (V), AGNC Investment Corp. (AGNC) and Sonic Corp. (SONC).

Tomorrow morning before the open, Centene Corporation (CNC), Spirit Airlines (SAVE), Capella Education Company (CPLA), Nielsen Holdings N.V. (NLSN), The Greenbrier Companies, Inc. (GBX), TD Ameritrade Holding Corporation (AMTD), General Motors Company (GM), Novartis AG (NVS), The Sherwin-Williams Company (SHW), Under Armour, Inc. (UA), Caterpillar Inc. (CAT), Baxter International Inc (BAX), Corning Inc. (GLW), JetBlue Airways Corporation (JBLU), Janus Capital Group Inc. (JNS), Lockheed Martin (LMT), 3M Company (MMM), The Procter & Gamble Company (PG), Whirlpool Corporation (WHR), Sprint Corporation (S), Valero Energy Corporation (VLO) and Merck & Co Inc. (MRK) are expected to report.

AAPL had an underwater week, ending down 0.63% on low volume. On Monday, AAPL dipped into murky shark-infested waters below 117 but managed to outswim the beasts, ending down just 0.09% on low volume. On Tuesday, AAPL balanced up on the 118-line and tipped down towards the end of the day, ending down 0.07% on low volume. On Wednesday, a red AAPL dropped through the 117 net and wound up down 0.30% on extremely low volume. On Thursday, AAPL got snapped at by sharks, pulling AAPL below 116.5 and ending down 0.05% on low volume. On Friday, AAPL landed the OPEX chopper down 0.39% at 116.60 on very light volume. AAPL opened down at 116.81 to high volume and quickly dipped to the mid to low-116 area at 9:36am on moderate volume before bouncing back up to the upper-116 area and setting an intra-day high of 116.74 at 9:58am on moderate volume and then dipping back to the mid-116 zone. AAPL hung around this area for most of the day on low volume aside from a short lived pop back into the upper-116 area just before noon on low volume. After 3:30pm, AAPL dipped to an intra-day low of 116.28 at 3:44pm on mild volume and bouncing back into the close. AAPL ended the day down 46 cents at 116.60 and dropped 6 cents in after-hours to 116.54.

This morning in pre-market, AAPL opened higher in conjunction with Futures and made an attempt in the mid-117 area, setting a pre-market high of 117.48 at 6:57am before pulling back to the low-117 area after Wells Fargo maintained AAPL coverage with market perform and a 112.5 price target. AAPL is currently up 63 cents at 117.23 as we approach the open.


Classic max-pain is 115.


Spain, data lead Europe higher after breakthrough for PM Rajoy:
http://www.reuters.com/article/us-global-markets-idUSKCN12O01L

European bonds rally as political, economic risks diminish:
http://www.bloomberg.com/news/articles/2016-10-24/spanish-bonds-rise-as-socialists-vote-to-end-political-deadlock

Japan's exports fall for 12th straight month:
http://fortune.com/2016/10/24/japan-trade-exports-fall/

What does a AT&T-Time Warner deal mean for consumers?
http://www.bbc.com/news/business-37748137

TD Ameritrade, Toronto-Dominion buy Scottrade for $4 billion:
http://www.bloomberg.com/news/articles/2016-10-24/td-ameritrade-toronto-dominion-buy-scottrade-for-4-billion

What to expect from Apple's new Mac "hello":
http://www.computerworld.com/article/3134008/apple-mac/what-to-expect-from-apple-s-new-mac-hello.html

The iPod turns 15:
http://www.theverge.com/2016/10/23/13359534/ipod-mini-nano-touch-shuffle-15-years-visual-history-apple

Code clues show HTC's involvement in Google Pixel:
http://www.androidheadlines.com/2016/10/code-clues-show-htcs-involvement-google-pixel.html

What to expect at Microsoft's Surface PC event:
http://www.theverge.com/2016/10/24/13379386/microsoft-surface-event-windows-10-devices-preview

Facebook's guidelines are changing:
http://www.csmonitor.com/Technology/2016/1024/What-s-newsworthy-Facebook-s-guidelines-are-changing

Samsung is hoping to rekindle Note brand name next year:
https://techcrunch.com/2016/10/24/samsung-is-hoping-to-rekindle-note-brand-name-next-year/

Linux exploit gives any user full access in 5 seconds:
https://www.engadget.com/2016/10/24/linux-exploit-gives-any-user-full-access-in-five-seconds/

Elon Musk reveals plans for life on Mars:
http://www.zdnet.com/article/a-city-of-glass-elon-musk-reveals-plans-for-life-on-mars/

How did the European Space Agency's Mars lander meet its untimely end?
http://www.csmonitor.com/Science/2016/1023/How-did-the-European-Space-Agency-s-Mars-lander-meet-its-untimely-end

NASA's Viking Experiment May Have Detected Microbial Life On Mars In 1976
http://www.techtimes.com/articles/183372/20161023/nasas-viking-experiment-may-have-detected-microbial-life-on-mars-in-1976.htm

How artists imagine planets yet unseen:
http://www.npr.org/2016/10/24/495072203/out-of-this-world-how-artists-imagine-planets-yet-unseen

CO2 levels mark "new era" in the world's changing climate:
http://www.bbc.com/news/science-environment-37729033

Evidence of right handedness found in Homo habilis fossil:
http://www.popularmechanics.com/science/a23510/right-handedness-pre-humans/

To avoid SIDS, infants and parents should share a room:
http://www.cnn.com/2016/10/24/health/sids-sleep-in-same-room/

Pediatricians relax guidelines on screen time for kids to give more flexibility:
http://www.pbs.org/newshour/rundown/pediatricians-relax-guidelines-screen-time/

Mom holds separated twin for 1st time:
http://www.cnn.com/2016/10/23/health/mcdonald-conjoined-twin-separated-held-for-first-time/

This baby was born twice:
http://www.cnn.com/2016/10/20/health/baby-born-twice-fetal-surgery/index.html

Surprise baby:
http://www.usatoday.com/story/news/nation-now/2016/10/22/womans-abdominal-pain-turns-out-surprise-baby/92598812/


Today's Economic Calendar:
8:30 Chicago Fed National Activity Index
9:00 Fed's Dudley: "Evolving Structure of the U.S. Treasury Market"
9:05 Fed's Bullard speech
9:45 PMI Manufacturing Index Flash
1:45 PM Fed's Powell: "Future of the settlement process for Treasury market"


Notable earnings this afternoon after the bell: ALSN, BRX, CMP, KN, ACC, SPN, HSII, CLGX, ADC, *RMBS*, CMRE, EFII, GHL, *SWFT*, *V*, *AGNC*, BHLB, BOXC, CDNS, CR, FBP, FIBK, HMST, IBTX, RE, VASC, ZION, TRU, WNC, WASH, AVB, EFSC, EFUT, *SONC*

And tomorrow before the open: CAC, MINI, USG, *CNC*, CYNO, LPT, MAS, GPK, RDY, *SAVE*, MDSO, MIICF, SHERF, *CPLA*, KKR, NCI, *NLSN*, WSO, SIR, NHYDY, ETR, WAB, CETV, ASTE, CTG, FELE, GKNCF, KOF, STAY, TNC, DXYN, SERV, TRIB, *GBX*, SCHN, *AMTD*, EAT, EDU, DASTY, *GM*, KEY, *NVS*, PII, RNSDF, *SHW*, *UA*, *CAT*, ABG, AIQUF, AKS, ATI, AXE, *BAX*, DD, FBC, FCAU, FCX, FRME, *GLW*, HUBB, IIVI, *JBLU*, *JNS*, LLY, *LMT*, *MMM*, NJ, ORAN, PCAR, PEBO, *PG*, PNR, R, ST, UPMKF, WAT, WDR, *WHR*, BHI, CSL, NHTC, NTOIF, UTX, FOJCF, SEOJF, CIT, MMC, RTIX, CVLT, *S*, *VLO*, *MRK*, SWDBF, BPOP, OSB, PAC, VCISF, HTCKF, CPNFF

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