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Apple Today 2/07/2017 (AAPL)

seymour_greenz • February 7th 2017 12:26:14 PM

Good Morning,

S&P Futures are up 6 with +5 Fair Value, NASDAQ Futures are up 13 with +7 Fair Value and Dow Futures are up 64 as earnings season "takes it up another notch" as the Dow and Nasdaq hit record highs.

This morning's Economic Calendar includes: International Trade, Gallup US ECI, Redbook Chain Store Sales and Job Openings and Labor Turnover Survey, followed by Results of $24B, 3-Year Note Auction and Consumer Credit this afternoon.

The earnings winner is Centene Corporation (CNC), up over 2%. On the other hand, Michael Kors Holdings (KORS) is down nearly 12.5% and General Motors Company (GM) is down nearly 1.5%.

Futures were flat in early morning and turned up after 3am, peaking at 6:40am and then settled back since and are off the highs as we approach the open.

Asian markets ended down. China gained 0.12%, Hong Kong went down 0.07%, and Japan led the decline, down 0.35%. European markets are mostly up. The UK is up 0.70%, Germany is up 0.57% and France is down 0.06%.

Commodities are mostly down this morning. Oil is down 0.87%, natural gas is up 2.62% and gold is down 0.06%. Unleaded gas is down 0.04% and heating oil is down 0.41%. Metals are down. Meats are mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

Dow and Nasdaq hit record highs. US trade deficit falls as exports hit more than 1-1/2 year high.

Tesoro Corporation (TSO) reported Q4 results yesterday afternoon with an adjusted loss of 2 cents per share that beat expectations and is up nearly 0.5% in pre-market. Twenty-First Century Fox, Inc. (FOXA) is down slightly after announcing Q2 results with adjusted earnings of 53 cents per share. CBOE Holdings (CBOE) reported Q4 results with adjusted earnings of 63 cents per share that beat expectations and has yet to react.

General Motors Company (GM) reported Q4 results this morning with profit of $1.28 per share and is down nearly 1.5% in pre-market. Fidelity National Information Services, Inc. (FIS) announced Q4 results with adjusted earnings of $1.14 per share that met expectations and is down nearly 0.5%. Arrow Electronics Inc (ARW) reported Q4 results with adjusted earnings of $2 per share that missed expectations and is down over 1%. Michael Kors Holdings (KORS) is down nearly 12.5% after announcing Q3 results that missed expectations. Centene Corporation (CNC) reported Q4 results with adjusted earnings of $1.19 per share that beat expectations and is up over 2%. The Mosaic Company (MOS) announced Q4 results with adjusted earnings of 26 cents per share that beat expectations and is down over 1.5%.

This afternoon after the bell, look out for earnings from NETGEAR, Inc. (NTGR), Farmer Brothers Company (FARM), Akamai Technologies, Inc. (AKAM), The Walt Disney Company (DIS), Nuance Communications, Inc. (NUAN), Panera Bread Company (PNRA), Tucows Inc (TCX), Zillow Group, Inc. (Z), Hudson's Bay Co (HBAYF), The Container Store Group, Inc. (TCS), Buffalo Wild Wings, Inc. (BWLD) and Take-Two Interactive Software, Inc. (TTWO).

Earnings data for 2017-02-08 Pre-Market:
Tomorrow morning before the open, Goodyear Tire & Rubber Co. (GT), Tomtom NV (TMOAF), Owens Corning (OC), Time Warner Inc. (TWX), Voya Financial, Inc. (VOYA), Nokia Corporation (NOK), Allergan plc (AGN), Alaska Air Group, Inc. (ALK) and GrubHub Inc. (GRUB) are expected to report.

A leading Bullish DIS swing trade strategy is: When MACD experiences a Bearish crossover with settings of Fast 5, Slow 16 and Signal 8, daily bars.

AAPL jumped out of the bowl pattern from Friday, above 130 and ended up 0.94% on low volume. AAPL opened up at 129.13 to high volume and immediately set an intra-day low of 128.92 before flying up to the low-130 area on strong volume. AAPL spent the rest of the day in a relatively narrow zone and set an intra-day high of 130.50 at 1:12pm on low volume before returning to the low-130 area on moderate volume. AAPL ended the day up $1.21 at 130.29 and dropped 2 cents in after-hours to 130.27.

This morning in pre-market, AAPL opened lower and then gravitated to the 130.5-line as Canaccord Genuity maintained AAPL coverage with Buy and a $154 target. AAPL is currently up 26 cents at 130.55 as we approach the open.

Classic max-pain is 124.


Dow and Nasdaq hit record highs:
http://www.reuters.com/article/us-usa-stocks-idUSKBN15M1CT

US trade deficit falls as exports hit more than 1-1/2 year high:
http://www.reuters.com/article/us-usa-economy-idUSKBN15M1IG

GM wants comprehensive tax reform:
http://www.usatoday.com/story/money/cars/2017/02/07/general-motors-cfo-chuck-stevens-tax-reform-nafta-president-trump/97584744/

Honda and Hitachi are forming an electric vehicle motor company:
http://fortune.com/2017/02/07/honda-hitachi-electric-vehicle-joint-venture/

Apple's new "spaceship" campus:
http://fortune.com/2017/02/07/apple-spaceship-campus-steve-jobs/

Is Apple working on AR glasses?
http://www.techtimes.com/articles/196255/20170207/apple-working-on-an-ar-glasses-announcement-expected-mid-2017.htm

Twitter says it's cracking down on abuse again:
http://www.usatoday.com/story/tech/news/2017/02/07/twitter-says-it-is-cracking-down-on-abuse-again/97574368/

Facebook shareholders urge company to replace Mark Zuckerberg with "independent" board chair:
http://venturebeat.com/2017/02/06/facebook-shareholders-urge-company-to-replace-mark-zuckerberg-with-independent-board-chair/

Vizio smart TVs tracked viewers around the clock without consent:
https://arstechnica.com/tech-policy/2017/02/vizio-smart-tvs-tracked-viewers-around-the-clock-without-consent/

If you own a PC with a DVD drive, you may be due a $10 settlement:
http://www.pcworld.com/article/3166548/storage-optical/if-you-own-a-pc-with-a-dvd-drive-youre-probably-owed-10.html

SpaceX plans to launch a rocket every 2 to 3 weeks:
http://www.csmonitor.com/Science/2017/0207/SpaceX-plans-to-launch-a-rocket-every-two-to-three-weeks.-Impossible

Japanese mission to clear up space junk failed:
http://www.bbc.co.uk/newsround/38894453

See rare, dying "rotten egg" star:
http://time.com/4662484/nasa-hubble-telescope-rotten-egg-star/

How was Mars warm enough for liquid water?
http://www.space.com/35595-ancient-mars-atmosphere-liquid-water-mystery.html

Gecko eludes foes with tearaway skin:
http://www.bbc.com/news/science-environment-38897327

A Martian volcano may have continuously erupted for billions of years:
http://www.smithsonianmag.com/smart-news/martian-volcano-may-have-continuously-erupted-billions-years-180962068/

Male contraceptive gel passes monkey test:
http://www.bbc.com/news/health-38879224

Fat-shaming could raise health risks, study suggests:
http://www.cnn.com/2017/02/07/health/fat-shaming-sick-study-partner/

Pregnant? Avoid eating licorice:
http://www.livescience.com/57771-pregnant-women-should-avoid-licorice.html


Today's Economic Calendar:
8:30 International Trade
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $24B, 3-Year Note Auction
3:00 PM Consumer Credit


Notable earnings this afternoon after the bell: GNW, IPHI, LITE, MOBL, NEWR, *NTGR*, WAIR, HRG, *FARM*, PAA, PAGP, PSDV, AIZ, *AKAM*, AMRK, CALD, DEI, *DIS*, ESE, HIW, KFRC, *NUAN*, *PNRA*, PRO, SCSC, *TCX*, USNA, CNO, ORLY, PXD, CTRE, *Z*, INPCF, JIVE, *HBAYF*, SPSC, *TCS*, *BWLD*, NANO, ULTI, MDLZ, COHR, CPT, GILD, RM, JKHY, MYGN, POWL, ZG, ATO, MCHP, EMKR, *TTWO*, UVV, CSRA, DRYS, CTO, TDW, ELMD, HCSG, PDVW, TWLO

And tomorrow before the open: FLDM, IIJI, GWR, *GT*, LABL, SNY, *TMOAF*, CCUR, OESX, AXTA, CABGY, CG, CSTE, DLHC, EEFT, FLOW, IFCZF, MIICF, *OC*, ORBK, PZN, TUWLF, *TWX*, *VOYA*, WD, CAMT, GRA, LPX, *NOK*, *AGN*, SPP, ABB, *ALK*, GSK, MHH, NHTC, ARCB, VWDRY, BCO, *GRUB*, RDWR, NJR, PFGC, BR, JEC, CTSH, EXC, HLUKF, VNRCF, THR, ROLL, AI, AMKAF, SCMWY, ATSAF, CNGO, DKILF, KNCRF, RIO, SAXPF, SBSNF, SFTBY, SMFTF

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