Apple Today - 9/22/2016 (AAPL)
seymour_greenz • September 22nd 2016 09:36:04 AM
Good Morning,
NASDAQ Futures are up 18 with +22 Fair Value, S&P Futures are up 7 with +8 Fair Value and Dow Futures are up 60 on this Thursday as the Fed left rates unchanged for now, lowering forecasts and Janet Yellen followed up with strong implications that rates would still get a hike before the end of 2016. Appropriately, the economic calendar is busting at the seams today with jobless claims and home sales data expected this morning, among many others. The earnings calendar is quiet with a handful of companies reporting yesterday and this morning and little in the queue for tomorrow. Futures were flat in early morning, took at dip into negative territory at 2am and bounced back an hour later, jumping up even further at 5am and are near the highs as we approach the open.
Asian markets ended up. China gained 0.54%, Hong Kong went up 0.38% and Japan's JPX was closed in observance of Autumnal equinox. European markets are rallying. The UK is up 1.33%, Germany is up 2.03% and France is leading the advance, up 2.20%.
Commodities are mostly up this morning. Oil is up 1.59%, natural gas is up 0.36% and gold is up 0.43%. Unleaded gas is up 0.39% and heating oil is up 1.21%. Metals are up. Meat is mixed. Cocoa, coffee, cotton, wheat and soybeans are up while corn is down.
US initial jobless claims match lowest level since April. Oil rises on weaker dollar after US crude stock draw. Draghi watches as BOJ yield curbs may give ECB food for thought.
Jabil Circuit Inc. (JBL) reported Q4 earnings yesterday afternoon that beat expectations and is down over 4% in pre-market. Herman Miller, Inc. (MLHR) announced Q1 results with profit of 60 cents per share but sales and guidance that missed expectations and is down nearly 10%. On the other hand, Red Hat, Inc. (RHT) reported adjusted Q2 earnings of 55 cents per share, beating expectations and is up nearly 6.5%. Bed Bath & Beyond Inc. (BBBY) announced Q2 earnings that missed expectations and a maintained outlook and is up nearly 0.5%.
AutoZone, Inc (AZO) reported Q4 results this morning with net income of $14.30 per share, beating expectations and is up nearly 0.5% in pre-market. On the contrary, Scholastic Corporation (SCHL) is down slightly after announcing a Q1 loss of $1.15 per share.
Tomorrow morning before the open, The Finish Line, Inc. (FINL) is expected to report.
AAPL dropped below 112.5 on "Fed day" and then bounced nicely to limit losses to 0.02% on lower than average volume. AAPL opened up at 113.82 to high volume and immediately set an intra-day high of 113.99 on high volume before slipping into the red and into the low-113 area on moderate volume by 10am. AAPL bounced back to touch green again at 10:40am on moderate volume and then sold off below 113 shoerly after 11am on mild volume. AAPL slipped further during lunchtime and set an intra-day low of 112.44 at 12:40pm on low volume before bouncing back into the upper-112 area on low volume and wallowing around the mid-112 area on low volume until the Fed announcement. After the 2pm announcement, AAPL perked up to 113 on moderate volume and forged ahead into the mid-113 area by 3pm on moderate volume with a slight dip into the upper-112 area at 2:28pm. AAPL ended the day down 2 cents at 113.55 and gained 11 cents in after-hours to 113.66.
This morning in pre-market, AAPL opened higher and gravitated to 114 in conjunction with Futures, an outperform confirmation from Cowen and iPhone 7 sales buzz from Verizon CEO, with AAPL spending most of the morning in a narrow range around 114 and showing some pep later in the morning. AAPL is currently up 68 cents at 114.23 as we approach the open.
Classic max-pain is 112.
US initial jobless claims match lowest level since April:
http://www.bloomberg.com/news/articles/2016-09-22/initial-jobless-claims-in-u-s-match-lowest-level-since-april
Oil rises on weaker dollar after US crude stock draw:
http://www.reuters.com/article/us-global-oil-idUSKCN11S01T
Draghi watches as BOJ yield curbs may give ECB food for thought:
http://www.bloomberg.com/news/articles/2016-09-22/draghi-watches-as-boj-yield-curbs-may-give-ecb-food-for-thought
Wells Fargo's bogus accounts echo of foreclosure abuses:
http://www.nytimes.com/2016/09/22/business/in-wells-fargos-bogus-accounts-echoes-of-foreclosure-abuses.html
Is Apple really buying McLaren?
http://www.bbc.co.uk/news/technology-37436171
iOS 10 review:
http://www.theverge.com/2016/9/22/13010546/apple-ios-10-review-imessage-music-siri-iphone-ipad
All about Apple Watch Series 2:
http://arstechnica.com/gadgets/2016/09/apple-watch-series-2-review-the-best-of-a-fitness-tracker-in-smartwatch-form/
How Apple and Samsung and Sony keep the liquid out:
https://www.cnet.com/news/how-does-waterproofing-work-apple-iphone-7-samsung-galaxy-s7-sony-xperia/
Yahoo will reveal massive loss of user data, according to Recode:
http://www.bloomberg.com/news/articles/2016-09-22/yahoo-will-soon-reveal-massive-loss-of-user-data-recode-says
Tesla drivers wake up to a serious upgrade:
http://www.bloomberg.com/news/features/2016-09-22/tesla-drivers-wake-up-to-a-serious-upgrade
Self-Driving cars gain Fed backing:
http://www.nytimes.com/2016/09/20/technology/self-driving-cars-guidelines.html
DNA points to a single migration from Africa:
http://www.nytimes.com/2016/09/22/science/ancient-dna-human-history.html
Rusty patched bumble bee proposed for US endangered species status:
http://in.reuters.com/article/us-usa-bumblebee-idINKCN11R2TI
Scientists finally figured out the source of this bizarre, glowing space blob:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/09/22/scientists-finally-figured-out-the-source-of-this-bizarre-glowing-space-blob/
NASA finds impossible cloud on Saturn moon Titan for the 2nd time:
http://www.techtimes.com/articles/178791/20160922/nasa-finds-impossible-cloud-on-saturn-moon-titan-for-the-second-time.htm
FDA launches app competition to help fight heroin overdose:
http://www.cnn.com/2016/09/22/health/fda-heroin-app-competition/
Mark Zuckerberg, Priscilla Chan pledge $3 billion to striking down disease:
http://www.zdnet.com/article/mark-zuckerberg-priscilla-chan-pledge-3-billion-to-striking-down-disease/
Codeine is not safe for children:
http://www.huffingtonpost.com/entry/codeine-not-safe-children_us_57e195c7e4b0e28b2b50bdec
Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Chicago Fed National Activity Index
9:00 FHFA House Price Index
9:45 Bloomberg Consumer Comfort Index
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings this afternoon after the bell: SYMX, AIR
And tomorrow before the open: *FINL*