Apple Today 11/09/2016 (AAPL)
seymour_greenz • November 9th 2016 10:25:40 AM
Good Morning,
NASDAQ Futures are down 85 with -82 Fair Value, S&P Futures are down 29 with -29 Fair Value and Dow Futures are down 252 after yesterday's surprise election results are setting in world-wide. Futures, now currently down over 1% represent a far cry from the bleak picture Futures painted earlier when they were down over 5% and market "circuit breakers" kicked in. The economic calendar has a few notches to tick off, including Mortgage Applications and Petroleum Inventories later this morning, while the earnings calendar gave us a 4% gain from Jazz Pharmaceuticals, Inc. (JAZZ) and a 14% loss from TripAdvisor Inc. (TRIP). Shake Shack (SHAK), MannKind Corporation (MNKD) and SunPower Corporation (SPWR) are coming up this afternoon and we'll hear from SodaStream International (SODA), Macy's Inc. (M) and Kohl's Corporation (KSS) tomorrow morning. Futures were down "big time" in early morning requiring a regulatory halt and then recovered surprisingly well by 4am, erasing the "lion's share" of losses. While still down sharply, Futures are resiliently near the highs as we approach the open.
Asian markets ended down. China went down 0.62%, Hong Kong dropped 2.16% and Japan led the decline, down 5.36%. European markets are also down. The UK is down 0.16%, Germany is down 0.74% and France is leading the decline, down 0.75%.
Commodities are mostly down this morning. Oil is down 0.09%, natural gas is up 0.27% and gold is up 2.15%. Unleaded gas is down 0.05% and heating oil is up 0.26%. Metals are up strong. Meats are mostly up. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.
US stock Futures pare drop amid speculation on Trump impact. Oil price recovers from initial fall after US election result. Global markets shaky after Trump victory.
Jazz Pharmaceuticals, Inc. (JAZZ) reported Q3 results yesterday afternoon with adjusted earnings of $2.57 per share, missing expectations and is up over 4% in pre-market. Prospect Capital Corporation (PSEC) announced Q1 results with adjusted earnings of 22 cents per share, missing expectations and is down nearly 3%.
TripAdvisor Inc. (TRIP) reported Q3 results this morning with adjusted earnings of 53 cents per share and is down over 14% in pre-market. Viacom Inc. (VIAB) announced Q4 results with adjusted profit of 69 cents per share and is down over 5.5%. DISH Network Corporation (DISH) reported Q3 earnings that missed expectations and is down over 6.5%. Crocs, Inc. (CROX) reported an adjusted Q3 loss of 3 cents per share that beat expectations and has yet to react. Santander Consumer USA Holdings Inc (SC) announced Q3 results and has yet to react. The Wendy's Company (WEN) reported an adjusted Q3 profit of 11 cents per share and is up slightly. Kandi Technologies Group, Inc. (KNDI) reported an adjusted Q3 loss of 4 cents per share and is down nearly 16%. Kite Pharma (KITE) is up over 3% after reporting Q3 results.
This afternoon after the bell, look out for earnings from Flowers Foods, Inc. (FLO), MannKind Corporation (MNKD), SunPower Corporation (SPWR), Popeyes Louisiana Kitchen, Inc. (PLKI), Green Dot Corporation (GDOT), Sunoco LP (SUN), Shake Shack (SHAK), Evoke Pharma, Inc. (EVOK), Avid Technology, Inc. (AVID), magicJack VocalTec Communications Ltd. (CALL), Eastman Kodak Co. (KODK), The Container Store Group, Inc. (TCS) and Tetra Tech, Inc. (TTEK).
Tomorrow morning before the open, Wix.com (WIX), SodaStream International (SODA), Macy's Inc. (M), Kohl's Corporation (KSS), AstraZeneca Group plc (AZN), Polo Ralph Lauren Corporation (RL) and Michael Kors Holdings (KORS) are expected to report.
A leading bearish M swing trade strategy is: When the 6 Simple MA is Below the 13 DEMA AND the 10 day Stochastics is Bearish, daily bars.
AAPL gained 0.59% on Election Day 2016 on low volume. AAPL opened at 110.31 to high volume and dipped to an intra-day low of 109.70 on mild volume at 10:08am before bouncing back strong through later morning on mild volume and then peaking at 111.72 at 12:58pm on low volume. AAPL dipped below 111 later in the afternoon on low volume and popped back towards mid-111 into the close on moderate volume, falling back towards 111 at the bell. AAPL ended the day up 65 cents at 111.06 and gained 40 cents in after-hours to 111.46.
This morning in pre-market, AAPL opened lower in conjunction with shocked Futures and put in a pre-market bottom of 107.70 at 4:01am and recovered through the morning alongside Futures, reaching as high as 111.13 at 9:11am before settling near 111. AAPL is currently down 16 cents at 110.90 as we approach the open.
Classic max-pain is 111.
US stock Futures pare drop amid speculation on Trump impact:
http://www.bloomberg.com/news/articles/2016-11-08/u-s-stock-index-futures-little-changed-as-election-results-loom
Oil price recovers from initial fall after US election result:
http://www.reuters.com/article/us-global-oil-idUSKBN134024
Global markets shaky after Trump victory:
http://www.nytimes.com/2016/11/10/business/dealbook/stock-markets-election.html
EU slashes growth forecasts:
http://www.bloomberg.com/news/articles/2016-11-09/trump-win-adds-to-brexit-uncertainty-as-eu-cuts-growth-forecasts
Dish shares dip as more subscribers leave:
http://www.usatoday.com/story/money/business/2016/11/09/dish-shares-dip-more-subscribers-leave/93534642/
Apple's refurbished store now offering iPhones:
http://www.macrumors.com/2016/11/08/apple-now-offering-refurbished-iphones/
Google Pixel and Pixel XL displays react to magnets:
http://www.techtimes.com/articles/185164/20161109/google-pixel-and-pixel-xl-displays-react-to-magnets-heres-where-the-switch-is-located.htm
Facebook takes on LinkedIn with new job opening features:
http://www.reuters.com/article/us-facebook-features-idUSKBN13303Y
Facebook built another Snapchat clone specifically for emerging markets:
http://www.recode.net/2016/11/8/13553422/facebook-snapchat-competitor-flash-emerging-markets-brazil
Metamaterials empower semiconductor-free microelectronics:
http://www.upi.com/Science_News/2016/11/08/Metamaterials-empower-semiconductor-free-microelectronics/9891478613511/?spt=sec&or=sn
Why you don't have much Neanderthal DNA:
http://www.nytimes.com/2016/11/09/science/neanderthal-dna-natural-selection.html
Cassini space probe images a cloudy summer day on Saturn's largest moon:
http://www.csmonitor.com/Science/2016/1108/Cassini-space-probe-images-a-cloudy-summer-day-on-Saturn-s-largest-moon
Australian telescope joins $100 million search for alien life:
http://www.space.com/34651-breakthrough-listen-seti-search-australian-telescope.html
Voters in California, Massachusetts and Nevada approve recreational use of marijuana:
http://www.cnn.com/2016/11/09/health/marijuana-legalization-election-results/
How to spot the signs of dementia early and Alzheimer's disease:
http://www.mirror.co.uk/lifestyle/health/how-spot-signs-dementia-early-9219337
Today's Economic Calendar:
7:00 MBA Mortgage Applications
10:00 Wholesale Trade
10:30 EIA Petroleum Inventories
1:00 PM Results of $23B, 10-Year Note Auction
9:00 PM Fed's Williams: Economic Outlook
Notable earnings this afternoon after the bell: EGAN, PFIE, CMFN, APPS, CCUR, PAHC, QNST, RLOG, MYL, PRI, SLF, TTGT, *FLO*, ITI, RLGT, CLLDF, DIOD, HLIT, *MNKD*, ATAI, BMA, *SPWR*, FCRGF, MRIN, WAGE, YUME, SREV, EIFZF, *PLKI*, ECPG, ETP, *GDOT*, LWSCF, MYTAY, NTES, SPTN, *SUN*, SXL, TOLWF, INGXF, CWSRF, HK, MACK, JUNO, TUBE, XON, ZLTQ, FSIC, GLF, WK, CZZ, ECYT, GARS, IDSY, NWLTF, SAWLF, CYTX, *SHAK*, ATTO, MLR, VVUS, PFNX, ATHX, *EVOK*, GALE, IMDZ, MNTX, SCLN, TCRD, TOTZF, TROV, CUI, EKSO, PFSW, TAT, TTEC, BIRDF, CALA, *AVID*, *CALL*, CHMI, CPRX, *KODK*, OHAI, TWER, WYY, RTK, DPGYF, INVE, LUNA, XONE, AXU, ONP, SPKE, CDNA, AJXGF, AUXO, FC, *TCS*, *TTEK*, APU, UGI, KRNT, ATO, BVSN, DRTTF, ETE, NVAX, TASR, CCDBF, SGRY, HCHC, SEDG, TIER, BSTC, BPTH, EVRI, FF, ICUI, NTRA, PEYUF, PSYTF, PZRIF, RELY, CBAY, NPIFF, PMTS, RPD, AXDX, EVH, KMPH, TRTC, WPRT, MIME, CSRA, UHAL, ENS, AGYS, CPST, SAND, VRTU, MMAC, SYUT, QHC, BSTG, MBLX
And tomorrow before the open: OPESF, CAE, *WIX*, CCE, JE, MFC, NICE, PNK, PTSX, VSTO, YLWDF, BDRBF, MGIC, CDNTF, COT, PRGO, *SODA*, AEG, *M*, *KSS*, STN, RBA, ARREF, RCMT, SUBCY, ABCD, CTTAY, DGLY, CEMI, CSUWF, CPG, AGGZF, EGT, HSGX, CGIX, CXUSF, IMOS, XNET, VNRX, CSTM, EARS, CWCO, DSCI, SGLB, TENX, SLW, MFCSF, EVOTF, IDN, PIRS, SCON, AGI, BXC, MTBC, TGEN, ADGE, HH, VBLT, NDRM, VDNRF, BRKS, EPC, *AZN*, SIEGY, SPH, CCP, BPMC, LQSIF, TLN, LNXSF, SUNW, CAAS, CDNAF, HIMX, PRTY, RIC, *RL*, VYGR, ADK, NGG, *KORS*, PMMAF, NRDXF, KMDA, ARKAF, STDAF, MMS, SPPJY, BFLBF, AAALY, DTEGF, HLTOY, MCRB, NEOS, CLSN, HVRRF, KPLUY, LGRVF