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Apple Today 10/28/2016 OPEX (AAPL)

seymour_greenz • October 28th 2016 10:25:18 AM

Good Morning,

NASDAQ Futures are up 10 with -12 Fair Value, S&P Futures are up 4 with flat Fair Value and Dow Futures are up 23 as Apple Inc. (AAPL) on this Friday ahead of Halloween weekend with the bulk of a helter-skelter week behind us. Apple Inc. (AAPL) introduced a number of new products yesterday, including new MacBooks with a second color "Touch Bar" screen for quick access to contextual functions. Apple also debuted a new 5K display in partnership with LG and unveiled a new "unified" TV app with access to over 2,000 games and improved Siri integration, available as a free update. The economic calendar has a few key metrics rolling in such as Q3 GDP and Consumer Sentiment coming up at 10am and the earnings calendar is busy reacting to a number of reports from yesterday and this morning. Alphabet Inc. (GOOG) spiked up as high as 850 in after-hours yesterday after beating Q3 expectations but has since faded somewhat and is up nearly 1.5%. On the other hand, Amazon.com, Inc. (AMZN) is down over 5.5% after reporting Q3 that missed estimates and a subdued outlook. Futures were up in early morning and dipped at 3am, hitting a low just after 4:30am and bounced back setting highs just after 7am and are near the highs as we approach the open.

Asian markets ended mostly down. China went down 0.88%, Hong Kong fell 1.59% and Japan gained 0.31%. European markets are mostly up. The UK is up 0.43%, Germany is down 0.69% and France is up 0.21%.

Commodities are mostly down this morning. Oil is down 0.86%, natural gas is down 1.14% and gold is down 0.16%. Unleaded gas is down 0.45% and heating oil is down 0.99%. Metals are mixed, gold and silver are down while copper and platinum are up. Meats is up. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

US economic growth rebounds on inventory, export boost. US labor costs increase 0.6% in Q3. Google parent Alphabet profit surges on mobile, video ads. Amazon spooks investors with big spending ahead of holidays.

Alphabet Inc. (GOOG) reported Q3 results yesterday afternoon that beat expectations and is up nearly 1.5% in pre-market. Amazon.com, Inc. (AMZN) announced Q3 earnings that missed expectations and a subdued outlook and is down over 5.5%. Twitter, Inc. (TWTR) is up over 0.5% after reporting Q3 earnings, announcing a 9% worldwide workforce cut and plans to shut down Vine. Baidu, Inc. (BIDU) announced Q3 results that beat estimates and is up over 3%. Expedia, Inc. (EXPE) reported Q3 earnings with mixed results and is up nearly 1.5%. Cirrus Logic, Inc. (CRUS) announced Q2 results with adjusted earnings of $1.35 per share that beat expectations and is up nearly 7.5%.

Exxon Mobil Corporation (XOM) reported Q3 results this morning with a 38% drop in profit but beat estimates and is down over 1.5% in pre-market. Chevron Corporation (CVX) announced Q3 results with net income of 68 cents per share that topped estimates, raised dividend and is up over 0.5%. MasterCard Incorporated (MA) is up nearly 1.5% after beating Q3 expectations.

On Monday before the open, look out for earnings from Diamond Offshore Drilling Inc. (DO) and Loews Corporation (L).

As the Apple event showcased new products AAPL dropped 0.93% for the day on low volume. AAPL opened at 115.30 to high volume and quickly put in an intra-day high of 115.86 on high volume before dipping to the 115-area after 10am and remaining in a surprisingly narrow range throughout the event, never straying too far from 115. However, after 3pm AAPL showed signs of weakness and dipped below 114.5 on moderate volume, scraping an intra-day low of 114.10 at 3:46pm before bouncing back towards mid-114 into the close on mild volume. AAPL ended the day down 1.08 at 114.51 and dropped 29 cents in after-hours to 114.22.

This morning in pre-market, AAPL opened lower and briefly dipped into the upper-113 area before bouncing back to a pre-market high of 113.80 at 4:51am and then settling in the low-114 area. AAPL is currently down 33 cents at 114.15 as we approach the open.


Classic max-pain is 115. Today is OPEX. Have a good weekend with your friends and family.


US economic growth rebounds on inventory, export boost:
http://www.bloomberg.com/news/articles/2016-10-28/u-s-economic-growth-rebounds-on-boost-from-exports-inventories

US labor costs increase 0.6% in Q3:
http://www.reuters.com/article/us-economy-costs-idUSKCN12S1HJ

ECB will provide stimulus until sustained inflation rebound:
http://in.reuters.com/article/ecb-policy-coeure-idINKCN12S1DU

Google parent Alphabet profit surges on mobile, video ads:
http://www.reuters.com/article/us-alphabet-results-idUSKCN12R2N6

Amazon spooks investors with big spending ahead of holidays:
https://www.bloomberg.com/news/articles/2016-10-28/amazon-spooks-investors-with-big-spending-heading-into-holidays

Exxon profit slides as oil-market slump threatens reserves:
http://www.bloomberg.com/news/articles/2016-10-28/exxon-mobil-profit-slides-as-oil-market-extends-slump

Qualcomm to buy NXP Semiconductors for $47 billion:
http://www.nasdaq.com/article/qualcomm-qcom-to-buy-nxp-semiconductors-for-47-billion-cm700044

The 7 biggest announcements from Apple's MacBook event:
http://www.theverge.com/circuitbreaker/2016/10/27/13439594/apple-event-october-2016-news-recap-macbook-pro

Here's how the MacBook Pro stacks up against the PC:
http://www.pcworld.com/article/3136317/computers/heres-how-the-macbook-pro-stacks-up-against-the-pc.html

MacBook Pro vs Surface Studio PC:
http://www.theverge.com/2016/10/28/13451870/poll-macbook-pro-or-surface-studio-pc

The future of PCs and Macs is expensive:
http://www.theverge.com/2016/10/28/13452084/microsoft-apple-new-pc-surface-macbook-prices-expensive-exclusive

Amazon Web Services is the financial life preserver that Amazon desperately needs:
http://qz.com/821060/amazon-web-services-amzn-is-now-a-11-billion-a-year-cloud-computing-business/

Facebook clones Snapchat's face filters and ephemeral photo messages:
http://www.theverge.com/2016/10/28/13446254/facebook-camera-update-test-snapchat-clone-msqrd

Watch Tesla's solar roof unveiling live:
https://techcrunch.com/2016/10/28/how-to-watch-teslas-solar-roof-unveiling-live/

Faraday Future gives us our first look at its electric SUV:
http://arstechnica.com/cars/2016/10/faraday-future-gives-us-our-first-look-at-their-electric-suv/

Vine is dead:
http://www.popularmechanics.com/technology/apps/news/a23576/vine-is-dead/

You might be able to beat a 401(k) by investing on your own:
http://www.usatoday.com/story/money/personalfinance/2016/10/28/401k-plan-invest-your-own/92416620/

The FCC just passed sweeping new rules to protect your online privacy:
https://www.washingtonpost.com/news/the-switch/wp/2016/10/27/the-fcc-just-passed-sweeping-new-rules-to-protect-your-online-privacy/

This is the best view yet of Europe's Mars lander crash site:
http://www.space.com/34534-exomars-mars-lander-crash-site-best-photo.html

"Alien megastructure" star targeted by $100 million SETI search:
http://www.space.com/34505-alien-megastructure-star-seti-search.html

Nations agree to establish world's largest marine reserve In Antarctica:
http://www.npr.org/sections/thetwo-way/2016/10/28/499717685/nations-reach-deal-to-establish-worlds-largest-marine-reserve

Researchers say they've found a bit of fossilized dinosaur brain:
http://www.npr.org/sections/thetwo-way/2016/10/27/499579906/researchers-say-theyve-found-a-bit-of-fossilized-dinosaur-brain

Cranberry juice won't prevent urinary tract infection, study finds:
http://www.cnn.com/2016/10/27/health/cranberry-urinary-tract-infection/

But be sure to eat your broccoli!
http://time.com/4547919/this-compound-in-broccoli-can-slow-aging/

Cute:
http://www.cnn.com/2016/10/27/health/nicu-babies-get-tiny-halloween-costumes-trnd/


Today's Economic Calendar:
8:30 GDP Q3
8:30 Employment Cost Index
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count


Notable earnings this afternoon after the bell: AIV, MDDWF

And on Monday before the open: *DO*, *L*, LPX, WMB, CVEO, BSFT, SALT, UCP, CPLP, DSPG, EURN, FBR, ZBH, CNHI, EDVMF, D

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