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Apple Today 10/25/2016 Earnings (AAPL)

seymour_greenz • October 25th 2016 11:11:23 AM

Good Morning,

NASDAQ Futures are up 8 with +9 Fair Value, S&P Futures are up 3 with +1 Fair Value and Dow Futures are up 20 as the perfect storm of a packed economic calendar and overflowing earnings take center stage, including the legendary Apple Inc. (AAPL), Tesla Motors Inc (TSLA), Chipotle Mexican Grill, Inc. (CMG), Express Scripts, Inc. (ESRX), Panera Bread Company (PNRA) and Vertex Pharmaceuticals Incorporated (VRTX) which report later today. Watch for consumer confidence, up at 10am and a speech from Lockhart in early afternoon. Bloomberg reported Twitter (TWTR) may be looking to cut around 300 jobs, keep an eye out for any hatching developments. Futures were up in early morning, peaked at 5am and then dipped sharply at 7am but have since bounced back and are off the lows as we approach the open.

Asian markets ended mixed. China went up 0.12%, Hong Kong dropped 0.17% and Japan gained 0.76%. European markets are up. Germany is up 0.34%, France is up 0.09% and the UK is leading the advance, up 0.40%.

Commodities are mixed this morning. Oil is up 0.14%, natural gas is up 0.99% and gold is up 0.41%. Unleaded gas is up 0.01% and heating oil is down 0.20%. Metals are up. Meats are up strong. Cocoa, coffee, cotton, corn and wheat are up while soybeans are down.

US home prices rose in August. Caterpillar stung in Q3. GM posts best 3Q results since exiting bankruptcy. Apple and Tesla to report earnings.

Visa Inc. (V) reported Q4 earnings yesterday afternoon up 28% that beat expectations but offered a light outlook and is down nearly 1% in pre-market. Rambus, Inc. (RMBS) announced Q3 results that beat expectations and a higher outlook and is up nearly 8.5%. Swift Transportation Company (SWFT) reported Q3 results with an adjusted profit of 34 cents per share that topped expectations and is up nearly 7%. AGNC Investment Corp. (AGNC) posted an adjusted Q3 profit of 64 cents per share and is up over 0.5%. Sonic Corp. (SONC) is down 14.5% after reporting Q4 results that topped expectations.

3M Company (MMM) reported Q3 results this morning with profit of $2.15 per share that exceeded estimates but offered a lower outlook and is down over 1.5% in pre-market. The Procter & Gamble Company (PG) announced Q1 results that beat expectations and is up nearly 3.5%. General Motors Company (GM) reported record Q3 earnings despite slowing US sales and is up nearly 0.5%. Caterpillar Inc. (CAT) announced Q3 results with net income of $283 million that beat expectations but came up short on revenue and is down over 1.5%. Sprint Corporation (S) reported a Q2 earnings loss of $142 million and is down over 3%. Under Armour, Inc. (UA) announced Q3 earnings with a 28% profit rise but is down nearly 15% on slowed growth expectations.

This afternoon after the bell, look out for earnings from Akamai Technologies, Inc. (AKAM), Panera Bread Company (PNRA), Tanger Factory Outlet Centers, Inc. (SKT), iRobot Corporation (IRBT), Pandora Media (P), Express Scripts, Inc. (ESRX), Discover Financial Services (DFS), Apple Inc. (AAPL), Chipotle Mexican Grill, Inc. (CMG), Capital One Financial Corporation (COF), Edwards Lifesciences Corp (EW), Ameriprise Financial, Inc. (AMP), Vertex Pharmaceuticals Incorporated (VRTX), Juniper Networks (JNPR) and Tesla Motors Inc (TSLA).

Tomorrow morning before the open, Ingersoll-Rand plc (IR), The Coca-Cola Company (KO), Wyndham Worldwide Corporation (WYN), Owens Corning (OC), Vonage Holdings Corp. (VG), Garmin Ltd. (GRMN), Six Flags Entertainment Corporation (SIX), Waste Management, Inc. (WM), Hilton Worldwide Holdings (HLT), Biogen Inc. (BIIB), Southwest Airlines Co. (LUV), Avery Dennison Corporation (AVY), The Boeing Company (BA), Boston Scientific Corporation (BSX), Comcast Corporation (CMCSA), General Dynamics Corporation (GD), Hess Corporation (HES), Nasdaq Inc. (NDAQ), Northrop Grumman Corporation (NOC) and GrubHub Inc. (GRUB) are expected to report.

AAPL had a bullish day, wandering up 0.90% and grazing on low volume. AAPL opened up at 117.10 to high volume and immediately dipped to an intra-day low of 117 and then bounced back to the mid-117 area on strong volume before settling around the 117 area before lunchtime. AAPL remained in the low-117 area during lunch but by early afternoon AAPL forged up to the upper-117 area and set a high of 117.74 at 2:10pm on low volume and then dipped back below the mid-117 zone again on low volume before charging up above 117.5 into the close. AAPL ended the day up 1.05 at 117.65 and gained 5 cents in after-hours to 117.70.

This morning in pre-market, AAPL opened higher in conjunction with Futures and marched up higher through early morning, topping out around 118.30 before drifting below 118 later in the morning aside from a rogue spike to 126.32 at 8:54am. AAPL is currently up 32 cents at 117.97 as we approach the open.


Classic max-pain is 115. Apple reports earnings today after market close.


US home prices rose in August:
http://www.usnews.com/news/business/articles/2016-10-25/us-home-prices-rose-in-august-lifted-by-dwindling-supply

Caterpillar stung in Q3:
http://www.usnews.com/news/business/articles/2016-10-25/caterpillar-beats-3q-profit-forecasts

GM posts best 3Q results since exiting bankruptcy:
http://www.usatoday.com/story/money/cars/2016/10/25/general-motors-third-quarter-earnings/92714096/

P&G revenue, profit steady as health sales rise:
http://www.usatoday.com/story/money/2016/10/25/procter-gamble-first-quarter-earnings-2017-fiscal-year/92713856/

AT&T set to lobby for merger with deep pockets and a big network:
http://www.nytimes.com/2016/10/26/technology/att-set-to-lobby-for-merger-with-deep-pockets-and-a-big-network.html?_r=0

What to expect from Apple's earnings tomorrow:
http://qz.com/816174/what-to-expect-from-apples-fourth-quarter-earnings-tomorrow/

Apple and Tesla to report earnings:
http://www.nytimes.com/2016/10/24/business/apple-and-tesla-to-report-earnings.html

Apple boosted by iPhone 7 demand:
https://www.bloomberg.com/news/articles/2016-10-25/apple-boosted-by-iphone-7-demand-slowing-pace-of-sales-decline

Apple fixes bugs:
http://www.zdnet.com/article/apple-fixes-bugs-one-flaw-let-attackers-grab-iphones-with-booby-trapped-jpeg/

iPhone 8 rumors:
http://www.zdnet.com/article/iphone-8-rumors-a-reality-check/

Wait, did Xiaomi just steal the iPhone 8?
http://www.theverge.com/2016/10/25/13401600/xiaomi-mi-mix-iphone-8-preview

Microsoft CEO says mixed reality is the next big thing:
http://www.usatoday.com/story/tech/2016/10/24/microsoft-ceo-mixed-reality-next-big-thing/92711194/

Microsoft's October Windows, and maybe even hardware, event:
http://arstechnica.com/gadgets/2016/10/liveblog-microsofts-october-windows-and-maybe-even-hardware-event/?comments=1

Google buys wild eye-tracking VR tech:
https://www.cnet.com/uk/news/google-buys-eye-tracking-vr-tech/

Leak says Galaxy S8 will be an all-screen phone with amazing hardware:
http://bgr.com/2016/10/25/galaxy-s8-specs-release-date-leak/

Nvidia GeForce GTX 1050 and GTX 1050 Ti review:
http://www.pcworld.com/article/3134528/components-graphics/nvidia-geforce-gtx-1050-and-gtx-1050-ti-review-the-new-budget-gaming-champions.html

Smartwatch sales are tanking:
https://techcrunch.com/2016/10/24/smartwatch-sales-are-tanking/

Uber's self-driving truck company just completed its first shipment, 50k cans of Budweiser:
http://www.theverge.com/2016/10/25/13381246/otto-self-driving-truck-budweiser-first-shipment-uber

Zebrafish happy to hang out with lifelike robotic dopplegangers:
http://www.upi.com/Science_News/2016/10/24/Zebrafish-happy-to-hang-out-with-lifelike-robotic-dopplegangers/9071477325389/

Strange messages coming from the stars are probably from aliens, scientists say:
http://www.independent.co.uk/news/science/aliens-proof-evidence-facts-stars-scientists-extraterrestrial-life-et-intelligence-a7377716.html

Is dark energy a real thing? Maybe not, new study suggests:
http://www.csmonitor.com/Science/2016/1023/Is-dark-energy-a-real-thing-Maybe-not-new-study-suggests

This plant grows shimmering blue leaves to help it survive in the dark:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/10/24/this-plant-grows-shimmering-blue-leaves-to-help-it-survive-in-the-dark/

Uber is giving out free flu shots today:
http://fortune.com/2016/10/25/uber-free-flu-shots/

Women reaching equality in dubious habit:
http://www.upi.com/Health_News/2016/10/24/Women-reaching-equality-in-dubious-habit-Drinking/1291477357377/

If you’re a new parent, your baby should sleep in your room for up to a year:
https://www.bostonglobe.com/lifestyle/2016/10/24/study-babies-should-sleep-room-with-parents-for-first-six-months/GrApskMSNzE1xLxgVf0uCN/story.html

Eeek!
https://www.theguardian.com/australia-news/2016/oct/24/australia-giant-spider-mouse-carry-horrifying-impressive


Today's Economic Calendar:
8:55 Redbook Chain Store Sales
9:00 FHFA House Price Index
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
1:00 PM Results of $26B, 2-Year Note Auction
1:20 PM Fed's Lockhart speech


Notable earnings this afternoon after the bell: RNG, OI, AIZ, *AKAM*, AKR, HIW, NCR, *PNRA*, RSYS, *SKT*, USNA, *IRBT*, NUVA, *P*, RCKY, CPAC, BXMT, CSFFF, CSV, CVA, *ESRX*, HT, NBR, PSB, ZIXI, SCKT, HTA, MDR, QTS, ROIC, CLI, CYBE, FUEL, VIV, DGI, RRC, VICR, WMAR, CHFC, *DFS*, WSBC, UIS, *AAPL*, CEB, CNI, UDR, EQR, BXP, CHRW, CINF, *CMG*, *COF*, DHIFF, *EW*, MRCY, PREKF, RMD, STL, TMK, TRMK, TSS, WRB, *AMP*, BCR, NEFF, *VRTX*, ABAX, GRAM, *JNPR*, CB, TRNS, BUSE, JMP, LPL, *TSLA*

And tomorrow before the open: SAIA, ENTG, *IR*, *KO*, *WYN*, CG, DTE, *OC*, AB, FLIR, GRA, KINNF, PAG, *VG*, WOOF, FSP, *GRMN*, MDCO, ICD, LH, *SIX*, *WM*, SUZBY, CNV, EXAS, IBDRY, IBDSF, BLDP, HBP, *HLT*, FDML, OMAB, NEO, TRK, BVX, HBAN, NYCB, *BIIB*, KNYJF, *LUV*, NSC, ETH, ALLY, AVX, BAYZF, FCF, INGIY, POL, PROV, SPG, VNTV, AGCO, AOS, *AVY*, *BA*, BEN, BOKF, BSBR, *BSX*, CFR, *CMCSA*, EVR, FSV, *GD*, GSK, *HES*, LEA, LRN, MDLZ, MHH, MKTX, MPX, NAP, *NDAQ*, *NOC*, NRDEF, PB, RES, ROL, SC, SLAB, SLGN, SMED, SONS, STT, TELNF, UCBI, UMC, USAP, VLY, ALGT, LOGI, AIT, LANC, BCO, *GRUB*, WEC, GNRC, STRA, WFT, IX, VLRS, AI, CAPMF, PEUGF, NVZMF, SAN,

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