Apple Today - 10/20/2016 (AAPL)
seymour_greenz • October 20th 2016 09:41:58 AM
Good Morning,
NASDAQ Futures are up 5 with +6 Fair Value, S&P Futures are up 1 with +1 Fair Value and Dow Futures are up 18 on this post-debate Thursday filled with a busy economic calendar, including jobless claims at 8:30am, and bountiful earnings. Tesla Motors Inc (TSLA) surprised the tech world by unveiling new technology that will allow its cars to become fully self-driving by the end of 2017. "It's basically a supercomputer in car," Musk said, of the new Nvidia Titan GPU which is the "brains" behind the AI. Futures were up in early morning and quickly dipped to a low shortly after 3:30am, bouncing back somewhat but losing steam again after 7am and are near the lows again as we approach the open.
Asian markets ended mostly up. China went down 0.01%, Hong Kong went up 0.30% and Japan gained 1.39%. European markets are mixed. The UK is down 0.14%, Germany is up 0.08% and France is up 0.10%.
Commodities are mixed this morning. Oil is down 1.37%, natural gas is up 0.60% and gold is up 0.21%. Unleaded gas is up 0.10% and heating oil is down 0.48%. Metals are down except gold. Meats are mostly down. Cotton, corn, wheat and soybeans are up while cocoa and coffee are down.
US jobless claims in rise after falling to 4-decade low. Draghi Signals ECB unlikely to stop QE buying without tapering. Verizon revenue drops as subscriber additions disappoint. All new Tesla cars now have hardware for "full self-driving capabilities".
eBay Inc. (EBAY) reported Q3 results yesterday afternoon that beat expectations but offered a dim outlook and is down over 8.5% in pre-market. American Express Company (AXP) announced Q3 earnings that beat expectations and guided up and is up over 6.5%. Mattel, Inc. (MAT) reported Q3 results with an adjusted profit of 70 cents per share that met expectations and is up over 5.5%. WD-40 Company (WDFC) announced earnings of 99 cents per share, beating expectations and is up over 0.5%. Citrix Systems, Inc. (CTXS) reported Q3 earnings that beat expectations and is up nearly 4.5%. Kinder Morgan, Inc. (KMI) announced Q3 earnings with a 10.2% drop in revenue that missed expectations and is up nearly 3.5%. Tractor Supply Company (TSCO) reported Q3 results that topped expectations and is down over 2%.
Sonoco Products Co. (SON) reported Q3 earnings this morning that topped profit forecasts and is up nearly 1% in pre-market. Verizon Communications (VZ) is down nearly 2.5% after announcing Q3 adjusted earnings of $1.01 per share that topped forecasts but indicated a revenue miss. American Airlines Group (AAL) reported Q3 results that beat estimates as fuel costs fall and is up over 1%. Dunkin' Brands (DNKN) announced Q3 results with earnings that topped expectations but lagging in revenue and is down nearly 2.5%. Walgreens Boots Alliance, Inc. (WBA) is up nearly 2% after posting strong Q4 earnings but delaying Rite-Aid deal. Union Pacific Corporation (UNP) reported Q3 results with a profit drop of 13% and is down over 2.5%. Alaska Air Group, Inc. (ALK) beat Q3 expectations and is up nearly 1%. The Travelers Companies, Inc. (TRV) Q3 earnings indicated profit fell 23% in a 4th straight quarterly drop and is down over 2.5%. IMAX Corporation (IMAX) announced Q3 earnings with adjusted income of 12 cents per share and is up nearly 2%. The Bank of New York Mellon Corporation (BK) reported a profitable Q3 with income of 90 cents per share that topped expectations and is up nearly 3%.
This afternoon after the bell, look out for earnings from Athenahealth, Inc. (ATHN), Skechers USA Inc. (SKX), Boston Beer Co. (SAM), People's United Financial, Inc. (PBCT), Advanced Micro Devices, Inc. (AMD), E*TRADE Financial Corporation (ETFC), Microsoft Corporation (MSFT), Schlumberger Limited (SLB) and PayPal Holdings, Inc. (PYPL).
Tomorrow morning before the open, Moody's Corporation (MCO), Volvo AB ADR B (VOLVY), Tomtom NV (TMOAF), Citizens Financial Group (CFG), LM Ericsson Telephone Company (ERIC), General Electric Company (GE), Honeywell International, Inc. (HON), McDonald's Corporation (MCD), SunTrust Banks, Inc. (STI) and Synchrony Financial (SYF) are expected to report.
A red AAPL dropped through the net yesterday and wound up down 0.30% on extremely low volume. AAPL opened at 117.32 to high volume and quickly dipped to the low-117 area within minutes on relatively strong volume before flying back up into the green and upper-117 area, setting an intra-day high of 117.76 at 9:52 on mild volume. Afterwards, AAPL reversed and drifted ever lower throughout the morning on low volume to an intra-day low of 116.91 at 12:06pm on vanishingly small volume before bouncing back on low volume to over 117.5 later in the afternoon to another peak at 1:40pm and then sinking again over the course of the afternoon towards 117. AAPL ended the day down 35 cents at 117.12 and dropped 9 more cents in after-hours to 117.03.
This morning in pre-market, AAPL opened higher in conjunction with Futures and peaked at 117.35 at 7:45am before taking a hit to the mid-116 area, possibly from Verizon data. AAPL subsequently bounced back towards 117 and is currently down 15 cents at 116.97 as we approach the open
Classic max-pain is 114.
US jobless claims in rise after falling to 4-decade low:
http://www.bloomberg.com/news/articles/2016-10-20/jobless-claims-in-u-s-rise-after-falling-to-four-decade-low
Draghi Signals ECB unlikely to stop QE buying without tapering:
http://www.bloomberg.com/news/articles/2016-10-20/draghi-signals-ecb-could-boost-stimulus-as-inflation-stays-weak
Verizon revenue drops as subscriber additions disappoint:
http://www.reuters.com/article/us-verizon-results-idUSKCN12K1CV?il=0
American Airlines earnings drop 56% in Q3, but meet expectations:
http://www.usatoday.com/story/money/2016/10/20/american-airlines-earnings/92451704/
Walgreens posts strong Q4 earnings, but delays Rite-Aid deal:
http://www.nytimes.com/aponline/2016/10/20/business/ap-us-earns-walgreens-boots-alliance.html
Dunkin' Brands revenue misses on fewer restaurant openings:
http://www.reuters.com/article/us-dunkin-brnds-results-idUSKCN12K14Z
All new Tesla cars now have hardware for "full self-driving capabilities":
http://www.theverge.com/2016/10/19/13340938/tesla-autopilot-update-model-3-elon-musk-update
Apple to host press event Oct 27:
http://www.usatoday.com/story/tech/columnist/baig/2016/10/19/now-official-apple-host-press-event-oct-27/92410644/
Google refreshes its cloud storage, slashes prices to a new low:
http://www.zdnet.com/article/google-refreshes-its-cloud-storage-slashes-prices-to-a-new-low/
Galaxy Note 7 owners are angry Samsung is refusing to pay compensation:
http://www.theverge.com/2016/10/20/13343764/samsung-note-7-complaints-compensation
Nintendo to release teaser video of next-generation console:
http://www.reuters.com/article/us-nintendo-console-idUSKCN12K0BA
Luxury isn't having a very good year:
http://www.nytimes.com/2016/10/21/fashion/luxury-sales-altagamma.html
Did that European Mars lander make it to the surface?
http://www.csmonitor.com/Science/2016/1020/Did-that-European-Mars-lander-make-it-to-the-surface
"Planet 9" can't hide much longer, scientists say:
http://www.space.com/34455-planet-nine-discovery-coming-soon.html
Scientists turn carbon dioxide into ethanol fuel by accident:
http://www.csmonitor.com/Science/2016/1019/Scientists-by-accident-turn-carbon-dioxide-into-ethanol-fuel
Monkeys are making stone tools thought to be unique to humans:
http://www.csmonitor.com/Science/2016/1019/Monkeys-are-making-stone-tools-thought-to-be-unique-to-humans
Cave paintings help unravel the mystery of the "Higgs Bison":
http://www.smithsonianmag.com/ist/?next=/smart-news/how-cave-art-helped-dig-new-animal-species-180960833/
CDC advises pregnant women who have been to Miami-Dade be tested for Zika:
http://www.cnn.com/2016/10/19/health/zika-miami-dade-cdc-guidelines-updated/
Scientists think they've found why chocolates and wine cause migraines for some very unlucky people:
http://qz.com/812252/migraine-triggers-like-chocolate-and-wine-might-be-connected-to-bacteria-that-live-in-your-mouth/
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
10:00 Existing Home Sales
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings this afternoon after the bell: *ATHN*, BHE, FWRD, CLW, *SKX*, COBZ, KNL, TFIFF, *SAM*, STS, SWN, BRO, MBFI, SEIC, BPFH, TCBI, *PBCT*, *AMD*, ASB, CCI, *ETFC*, FCB, FFBC, GBCI, INDB, *MSFT*, MXIM, NBHC, PFPT, SBFG, SIVB, *SLB*, KLAC, *PYPL*, ACDSF, WERN
And tomorrow before the open: *MCO*, SXT, UMICF, *VOLVY*, *TMOAF*, EEFT, PDS, YARIY, IPG, AIMC, IHG, LECO, WBS, WIT, *CFG*, *ERIC*, MAN, TCB, DDAIF, *GE*, *HON*, *MCD*, MXTOF, OFG, SSB, *STI*, *SYF*, PCH, PH, ADX