Apple Today 11/17/2016 (AAPL)
seymour_greenz • November 17th 2016 11:00:42 AM
Good Morning,
S&P Futures are up 1 with flat Fair Value, NASDAQ Futures are up 9 with +1 Fair Value and Dow Futures are down 1 on this overstuffed turkey of a Thursday, chocked-full of economic data this morning, including Jobless Claims, Housing Starts, Consumer Price Index, E-Commerce Retail Sales, Natural Gas Inventory and more. Additionally, Yellen will also be delivering testimony at 10am. The earnings calendar winners include NetApp, Inc. (NTAP), up over 11%, Best Buy Co. (BBY), up nearly 8% and The Children's Place Retail Stores, Inc. (PLCE), up over 8%. The stinkers include Wal-Mart Stores, Inc. (WMT), down over 5% and Staples, Inc. (SPLS), down over 3.5%. Upcoming earners this afternoon are Nuance Communications, Inc. (NUAN), Applied Materials, Inc. (AMAT), Salesforce.com, Inc. (CRM), The Gap, Inc. (GPS), Intuit Inc. (INTU) followed by Foot Locker, Inc. (FL) and Abercrombie & Fitch (ANF) tomorrow morning. Futures were up in early morning, peaked just before 1:30am and then dipped to lows just after 3am, bouncing and then sinking again later in the morning and are near the lows again as we approach the open.
Asian markets ended mixed. China went up 0.11%, Hong Kong dropped 0.26% and Japan ended flat. European markets are mostly down. The UK is up 0.16%, Germany is down 0.31% and France is down 0.02%.
Commodities are mixed this morning. Oil is up 1.23%, natural gas is down 0.87% and gold is up 0.27%. Unleaded gas is up 1.35% and heating oil is up 1.74%. Metals are up except platinum. Meats are up. Cocoa, coffee and cotton are up while corn, wheat and soybeans are down.
Yellen says rate hike could come relatively soon. US jobless claims decline to lowest level in 4 decades. US consumer prices post largest gain in 6 months.
Cisco Systems, Inc. (CSCO) reported Q1 results yesterday afternoon with adjusted earnings of 61 cents per share and is down over 5% in pre-market. On the other hand, NetApp, Inc. (NTAP) is up over 11% after reporting an adjusted Q2 profit of 60 cents per share that beat expectations.
Wal-Mart Stores, Inc. (WMT) reported Q3 results this morning with net income of 98 cents per share, missing expectations and is down over 5% in pre-market. Best Buy Co. (BBY) is up nearly 8% in pre-market after reporting Q3 results with adjusted earnings of 62 cents per share, beating expectations. Staples, Inc. (SPLS) announced Q3 results with adjusted earnings of 34 cents per share, meeting expectations and is down over 3.5%. J. M. Smucker Company (SJM) is down over 3% after reporting Q2 earnings with mixed results. The Children's Place Retail Stores, Inc. (PLCE) reported Q3 results with adjusted earnings of $2.29 per share, beating expectations and is up over 8%. Perry Ellis International Inc. (PERY) is down slightly after reporting a Q3 loss but topped expectations.
This afternoon after the bell, look out for earnings from Nuance Communications, Inc. (NUAN), Applied Materials, Inc. (AMAT), Salesforce.com, Inc. (CRM), The Gap, Inc. (GPS), Intuit Inc. (INTU), Ross Stores, Inc. (ROST) and Williams-Sonoma Inc. (WSM).
Tomorrow morning before the open, Foot Locker, Inc. (FL), Abercrombie & Fitch (ANF) and Destination XL Group, Inc. (DXLG) are expected to report.
A leading bullish CSCO swing trade strategy is: When the 3 SMA is Above the 20 DEMA AND the 6 day Stochastics is Bearish, daily bars.
AAPL fired up like a rocket yesterday, arcing up 2.69% on super high volume. AAPL opened down at 106.88 to very high volume and immediately set an intra-day low of 106.60 on high volume before bouncing sharply and on high volume through the morning up to 110, peaking at 110.23 at 3:20pm on moderate volume before settling slightly below 110 into the close. AAPL ended the day up 2.88 at 109.99 and gave up 3 cents in after-hours to 109.96.
This morning in pre-market, AAPL picked up where it left off yesterday and buzzed around the 110-line, dipping into the upper-109 area later in the morning. AAPL is currently down 19 cents at 109.80 as we approach the open.
Classic max-pain is 110. Yellen speaks at 10am.
Yellen says rate hike could come relatively soon:
http://www.bloomberg.com/news/articles/2016-11-17/yellen-says-fed-interest-rate-hike-could-come-relatively-soon
US jobless claims decline to lowest level in 4 decades:
http://www.bloomberg.com/news/articles/2016-11-17/jobless-claims-in-u-s-decline-to-lowest-level-in-four-decades
US consumer prices post largest gain in 6 months:
http://www.reuters.com/article/us-usa-economy-consumer-idUSKBN13C1J2
US housing starts surged to a 9-year high in October:
http://www.bloomberg.com/news/articles/2016-11-17/housing-starts-in-u-s-surged-to-a-nine-year-high-in-october
Wal-Mart's comparable sales hurt by falling food prices:
http://www.reuters.com/article/us-walmart-results-idUSKBN13C1BS
AOL to cut 500 jobs:
http://in.reuters.com/article/aol-layoffs-idINKBN13C1K8
LinkedIn blocked by Russian authorities:
http://www.bbc.com/news/technology-38014501
Apple wants OLED in iPhones, but most suppliers aren't ready:
https://www.bloomberg.com/news/articles/2016-11-17/apple-wants-oled-in-iphones-but-most-suppliers-aren-t-ready-yet
Is VR's killer app Google Earth?
http://arstechnica.com/gaming/2016/11/google-earth-vr-the-world-is-at-your-fingertips/
Firefox's new iPhone browser hides you from advertisers' eyes
https://www.cnet.com/news/firefox-focus-iphone-browser-blocks-advertiser-tracking/
Does Pluto have a subsurface ocean?
http://www.csmonitor.com/Science/2016/1117/Does-Pluto-have-a-subsurface-ocean-The-heart-says-yes
Roundest known space object identified:
http://www.bbc.com/news/science-environment-38014613
Stephen Hawking says humans will be gone in 1,000 years unless we find new planet:
http://www.mirror.co.uk/news/weird-news/professor-stephen-hawking-says-humans-9271348
Watch the spectacular Leonid meteor shower tonight :
http://www.csmonitor.com/Science/2016/1116/How-to-watch-the-spectacular-Leonid-meteor-shower-tonight
Surgeon General wants America to face up to addiction:
http://www.npr.org/sections/health-shots/2016/11/17/502402409/surgeon-general-murthy-wants-america-to-face-up-to-addiction
The surprisingly common reason your medical bill might be higher than you expect:
https://www.washingtonpost.com/news/wonk/wp/2016/11/17/the-surprisingly-common-reason-your-medical-bill-might-be-higher-than-you-expect/
Researchers develop calculator for fertility treatment success rate:
http://www.bbc.co.uk/news/uk-scotland-38011497
Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Housing Starts
8:30 Philly Fed Business Outlook
8:30 Consumer Price Index
8:50 Fed's Dudley Speech
9:45 Bloomberg Consumer Comfort Index
10:00 Yellen delivers testimony before the joint economic committee
10:00 E-Commerce Retail Sales
10:30 EIA Natural Gas Inventory
12:30 PM Fed's Reserve Gov. Lael Brainard speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings this afternoon after the bell: ASYS, POST, WAIR, CORI, *NUAN*, *AMAT*, CRMT, KEYS, *CRM*, *GPS*, *INTU*, CO, *ROST*, *WSM*, SPWH, DPDW, KTEC, MATW, NGVC, MRVL
And tomorrow before the open: *FL*, *ANF*, BKE, HIBB, *DXLG*, BEKSF