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Apple Today 4/20/2017 (AAPL)

seymour_greenz • April 20th 2017 11:41:18 AM

Good Morning,

S&P Futures are up 7 with +6 Fair Value, NASDAQ Futures are up 22 with +22 Fair Value and Dow Futures are up 42 on this action-packed Thursday after a market dip yesterday. Oil bounced back from a sharp 4% drop on Wednesday to the $50 level. Techwise, Verizon Q1 results missed expectations as the number of wireless subscribers dropped and is down over 2.5%. Bitcoin is now just over 1,235, edging closer to the 1,300 all-time-high levels.

This morning's Economic Calendar includes: Initial Jobless Claims, Philly Fed Business Outlook, Bloomberg Consumer Comfort Index, Leading Indicators and EIA Natural Gas Inventory followed by Fed Balance Sheet and Money Supply this afternoon.

The earnings winners are: CSX Corporation (CSX), up almost 6%, The Sherwin-Williams Company (SHW), up nearly 4% and The Blackstone Group L.P. (BX), up over 3.5%.

On the other hand, Philip Morris International Inc. (PM) is down nearly 4%, eBay Inc. (EBAY) is down almost 3% and Verizon Communications (VZ) is down over 2.5%.

Futures were up in early morning, continued up consistently throughout the morning and are near the highs as we approach the open.

Asian markets ended mostly up. China went up 0.04%, Hong Kong gained 0.97% and Japan went down 0.01%. European markets are mostly up. The UK is down 0.05%, Germany is up 0.03% and France is up 0.82%.

Commodities are mixed this morning. Oil is up 0.33%, natural gas is up 0.44% and gold is down 0.09%. Unleaded gas is up 0.59% and heating oil is up 0.34%. Metals are up except gold. Meats are mixed. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.

US weekly jobless claims up, continuing claims hit 17-year low. Major oil producers reach initial deal to extend output cuts.

eBay Inc. (EBAY) reported Q2 results yesterday afternoon with earnings of 49 cents per share that beat expectations but offered soft guidance and is down almost 3% in pre-market. American Express Company (AXP) announced Q1 results with earnings of $1.34 per share that beat expectations and is up almost 2.5%. Qualcomm Inc. (QCOM) reported Q2 results with adjusted earnings of $1.34 per share and is up over 1.5%. CSX Corporation (CSX) announced Q1 results with a dividend hike and $1 billion buyback and is up almost 6%.

Verizon Communications (VZ) reported Q1 results this morning that missed expectations as the number of wireless subscribers dropped and is down over 2.5% in pre-market. Unilever Plc (UL) announced Q1 results that beat expectations and is up over 1.5%. Philip Morris International Inc. (PM) reported Q1 results that missed expectations and is down nearly 4%. The Blackstone Group L.P. (BX) announced Q1 results with adjusted earnings of 82 cents per share that beat expectations and is up over 3.5%. Quest Diagnostics Incorporated (DGX) reported Q1 results with adjusted earnings of $1.33 per share that beat expectations and is up nearly 0.5%. KeyCorp (KEY) announced Q1 results with adjusted earnings of 32 cents per share that beat expectations and is up over 2%. The Sherwin-Williams Company (SHW) announced Q1 results with adjusted earnings of $2.27 per share that beat expectations and is up nearly 4%. The Travelers Companies, Inc. (TRV) reported Q1 results with mixed results and is down nearly 2%. Janus Capital Group Inc. (JNS) announced Q1 results with adjusted earnings of 23 cents per share that beat expectations and is up over 0.5%. IMAX Corporation (IMAX) reported Q1 results with adjusted earnings of 6 cents per share that met expectations and is up over 3%

This afternoon after the bell, look out for earnings from Skechers USA Inc. (SKX), Mattel, Inc. (MAT), Briggs & Stratton Corporation (BGG), E*TRADE Financial Corporation (ETFC) and Visa Inc. (V).

Tomorrow morning before the open, Stanley Black & Decker, Inc. (SWK), Schlumberger Limited (SLB), General Electric Company (GE), Honeywell International, Inc. (HON) and SunTrust Banks, Inc. (STI) are expected to report.

A leading Bearish V trade strategy is: When the 8 SMA is Above the 12 SMA AND the 9 Day Stochastics is Bullish, daily bars.

AAPL jumped up out of the 141 fish bowl yesterday to nearly 142, and then flopped onto the 140 floor, ending down 0.37% on low volume. AAPL opened up at 141.88 to high volume and set an intra-day high of 141.99 at 11:30am before falling down over 1.5 points through a particularly harsh afternoon on light volume. AAPL scraped an intra-day low of 140.45 at 3:54am on mild volume and bounced slightly into the close on higher volume. AAPL ended the day down 52 cents at 140.68 and gained 24 cents in after-hours to 140.92.

This morning in pre-market, AAPL opened higher in conjunction with Futures and recovered the mid-141 area and setting a pre-market high of 141.43 as Morgan Stanley maintained AAPL coverage with Overweight and a $161 target before slipping into the open. AAPL is currently up 48 cents at 141.16 as we approach the open.

Classic max-pain is 138.


US weekly jobless claims up, continuing claims hit 17-year low:
http://www.reuters.com/article/us-usa-economy-idUSKBN17M1HT

Major oil producers reach initial deal to extend output cuts:
https://www.bloomberg.com/news/articles/2017-04-20/saudi-arabia-says-some-oil-producers-reach-deal-to-extend-cuts

Verizon profit, revenue misses expectations as subscribers dash:
http://www.reuters.com/article/us-verizon-results-idUSKBN17M1BM

US mortgage rates drop to 5-month low with 30-year at 3.97%:
https://www.bloomberg.com/news/articles/2017-04-20/u-s-mortgage-rates-drop-to-five-month-low-with-30-year-at-3-97

Apple promises to stop mining minerals to make iPhones:
https://news.vice.com/story/apple-promises-to-stop-mining-minerals-to-make-iphones-it-just-isnt-sure-how-yet

Are your Bose headphones spying on you?
https://arstechnica.com/tech-policy/2017/04/man-claims-his-bose-headphones-capture-what-hes-listening-to/

HTC sets May date for squeezable U phone:
https://www.cnet.com/news/main-squeeze-htc-sets-may-date-for-squeezable-u-phone/

Ideal habitable world would be mostly ocean, model suggests:
http://www.upi.com/Science_News/2017/04/20/Ideal-habitable-world-would-be-mostly-ocean-model-suggests/2991492696290/

Cassini is ready to sacrifice itself for the good of the solar system:
https://www.wired.com/2017/04/cassini-prepares-sacrifice-good-solar-system/

Gullies streak down Mars crater in stunning NASA photo:
http://www.space.com/36526-mars-gulllies-crater-amazing-mro-photo.html

Lyrid meteor shower peaks this weekend:
https://www.washingtonpost.com/news/capital-weather-gang/wp/2017/04/20/look-up-the-lyrid-meteor-shower-peaks-this-weekend/

Antarctica is covered with more meltwater than thought:
http://news.nationalgeographic.com/2017/04/antarctica-meltwater-lakes-streams-ice-shelf-environment/

Trillions of plastic bits are littering Arctic waters:
https://www.nytimes.com/2017/04/19/climate/arctic-plastics-pollution.html

Potential anti-aging component of cord blood refreshes minds of old mice:
https://arstechnica.com/science/2017/04/component-of-human-umbilical-cord-blood-perks-up-the-minds-of-old-mice/

Experts excited by brain "wonder-drug":
http://www.bbc.com/news/health-39641123

Cycling to work can cut cancer and heart disease, says study:
http://www.bbc.com/news/health-39641122


Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings this afternoon after the bell: NCR, CLW, *SKX*, BAS, OMAB, MANH, EFII, EGP, *MAT*, TSC, AMRB, ASB, *BGG*, *ETFC*, FCB, FFBC, GBCI, HA, INDB, MXIM, NBHC, PFPT, SBFG, *V*, RHI, WERN, FLXS, QCRH

And tomorrow before the open: WBC, IPG, BLX, SHOO, KSU, WBS, COL, MAN, *SWK*, *SLB*, ABCB, CBF, *GE*, GNTX, *HON*, OFG, SSB, *STI*, NEE, NEP, HUSQF, KJWNF, KCDMF

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