Apple Today 11/29/2016 (AAPL)
seymour_greenz • November 29th 2016 11:24:48 AM
Good Morning,
S&P Futures are up 2 with +2 Fair Value, NASDAQ Futures are up 3 with +7 Fair Value and Dow Futures are up 13 as we begin this post-Cyber Monday Tuesday with a packed economic calendar, including GDP Q3, Chain Store Sales, Home Price Index, Consumer Confidence and a Fed speech from Dudley at 10am, to list a few. Earnings winners include Tiffany & Co. (TIF), up over 5.5% and The Bank of Nova Scotia (BNS), up nearly 1.5% while stinker Delta Apparel, Inc (DLA) is down nearly 0.5%. Upcoming earners include Autodesk, Inc. (ADSK) and Ooma (OOMA) this afternoon and American Eagle Outfitters, Inc. (AEO) tomorrow morning. Futures were down in early morning, rallied to a peak shortly after 4:30am and drifted lower later in the morning but are still clinging to green as we approach the open.
Asian markets ended mostly down. China went up 0.18%, Hong Kong dropped 0.41% and Japan went down 0.27%. European markets are mixed. The UK is down 0.63%, France is flat and Germany is up 0.69%.
Commodities are mostly down this morning. Oil is down 2.78%, natural gas is down 1.02% and gold is down 0.81%. Unleaded gas is down 1.92% and heating oil is down 2.27%. Metals are down. Meats are down. Cocoa is up while coffee, cotton, corn, wheat and soybeans are down.
US economic growth revised up for 3rd quarter. Oil falls as Iran says it won't cut output, putting deal at risk. Oil concerns temper European stocks. US home prices surpass pre-recession peak amid healthy sales.
Shoe Carnival, Inc. (SCVL) reported Q3 results yesterday afternoon with a profit of 54 cents and is unchanged in pre-market.
Tiffany & Co. (TIF) reported Q3 results with a 4.5% rise in profit as higher sales in Asia offset weakness in the US and Europe and is up over 5.5% in pre-market. Delta Apparel, Inc (DLA) announced Q4 results and is down nearly 0.5%. The Bank of Nova Scotia (BNS) reported Q4 results with adjusted profit of $1.21 per share and is up nearly 1.5%. Frontline Ltd. (FRO) beat Q3 estimates with adjusted earnings of 11 cents per share and is unchanged.
This afternoon after the bell, look out for earnings from Autodesk, Inc. (ADSK) and Ooma (OOMA).
Tomorrow morning before the open, American Eagle Outfitters, Inc. (AEO) are expected to report.
A leading bullish ADSK swing trade strategy is: When the 16 SMA is Above the 38 DEMA AND the 37 day Smoothed Stochastics is Bullish, daily bars.
AAPL lured the mid-112 area before sinking down 0.20% on low volume. AAPL opened at 111.43 to moderately high volume and immediately set an intra-day low of 111.39. AAPL then bobbed up to an intra-day high of 112.46 at 10:32am on before slipping underwater and stabilizing in the upper-111 area and then remaining in a narrow range near 111.75 for the rest of the afternoon on mild volume until 3pm when AAPL sunk near the lows into the close on low volume. AAPL ended the day down 22 cents at 111.57 and dropped 1 cent in after-hours to 111.56.
This morning in pre-market, AAPL picked up with yesterday's close and initially warmed up to the upper-11 area but soon sunk due to a UBS conference call to discuss iPhone procurement, scraping a pre-market low of 110.60 at 7:39am. AAPL is currently down 84 cents at 110.73 as we approach the open.
Classic max-pain is 111.
US economic growth revised up for 3rd quarter:
http://www.bbc.com/news/business-38148190
Oil falls as Iran says it won't cut output, putting deal at risk:
https://www.bloomberg.com/news/articles/2016-11-29/oil-retreats-below-47-as-opec-said-to-stay-split-on-output-deal
Oil concerns temper European stocks:
http://www.reuters.com/article/us-global-markets-idUSKBN13N00Y
US home prices surpass pre-recession peak amid healthy sales:
http://www.usnews.com/news/business/articles/2016-11-29/us-home-prices-surpass-pre-recession-peak-amid-healthy-sales
Cyber Monday sales set to surpass initial estimate:
http://fortune.com/2016/11/29/cyber-monday-sales-jump/
KGI says iPhone 8 to eclipse sales record set by iPhone 6:
https://9to5mac.com/2016/11/29/kgi-iphone-8-to-eclipse-sales-record-set-by-iphone-6-wireless-charging-on-high-end-and-low-end-models/
How a little iOS magic in every new Touch Bar adds security
http://www.macworld.com/article/3136559/os-x/how-a-little-ios-magic-in-every-new-touch-bar-adds-security.html
iPhone battery drain? Apple owners point finger at iOS 10.1.1 update:
http://www.zdnet.com/article/iphone-battery-drain-apple-owners-point-finger-at-ios-10-1-1-update/
Samsung to unveil shareholder return plans amid calls to split company:
http://www.reuters.com/article/us-samsung-elec-restructuring-idUSKBN13N022?il=0
Amazon is reportedly cracking down on fake products
http://www.theverge.com/2016/11/29/13774318/amazon-fighting-fake-products-goods
Amazon could debut an Alexa-based speaker with a touchscreen next year:
http://arstechnica.com/gadgets/2016/11/amazon-could-debut-an-alexa-based-speaker-with-a-touchscreen-next-year/
Diamonds turn nuclear waste into nuclear batteries:
http://newatlas.com/diamonds-nuclear-batteries/46645/
Great Barrier Reef hit by worst coral die-off on record, scientists say:
http://www.nytimes.com/2016/11/29/world/australia/great-barrier-reef-coral-bleaching.html
Cold reception for Japanese skating rink:
https://www.theguardian.com/world/2016/nov/28/anger-as-japanese-skating-rink-freezes-thousands-of-fish-into-ice-as-gimmick
Did Einsten get it wrong?
http://www.csmonitor.com/Science/2016/1128/Einsten-s-speed-of-light-theory-tested-Did-he-get-it-wrong
Potentially habitable planet's shadow spotted from Earth:
http://www.space.com/34838-exoplanet-shadow-spotted-from-earth.html
NASA's Cassini spacecraft is about to get a taste of Saturn's rings:
http://www.latimes.com/science/sciencenow/la-sci-sn-cassini-grazing-saturn-rings-20161128-story.html
Mystery of bleary-eyed astronauts may be cleared up with spinal fluid study:
http://arstechnica.co.uk/science/2016/11/sloshing-spinal-fluid-may-explain-astronauts-blurry-vision/
Zika pregnancies and big questions in Puerto Rico:
http://www.npr.org/sections/health-shots/2016/11/29/503592597/zika-pregnancies-and-big-questions-in-puerto-rico
Spiritual experiences seem to trigger the brain's reward system:
http://health.usnews.com/health-care/articles/2016-11-29/spiritual-experiences-seem-to-trigger-the-brains-reward-system
Mystery as 3 die after community Thanksgiving meal:
http://www.usatoday.com/story/news/nation/2016/11/29/mystery-3-die-after-community-thanksgiving-meal/94595208/
Today's Economic Calendar:
8:30 GDP Q3
8:30 Corporate Profits
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
10:00 Fed's Dudley Speech
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
Notable earnings this afternoon after the bell: UTI, DL, *ADSK*, SPLK, GWRE, CSBR, CCIH, JRJC, DSNY, *OOMA*
And tomorrow before the open: FSC, RY, TOUR, *AEO*, GMAN, TITN, ALBKF, GLNG, GMLP, RCKZF