Apple Today 2/28/2017 (AAPL)
seymour_greenz • February 28th 2017 12:55:08 PM
Good Morning,
S&P Futures are down 2 with -3 Fair Value, NASDAQ Futures are flat with -1 Fair Value and Dow Futures are down 6 on this "monumentus" last day of February as the Dow has posted 12 consecutive record closes, a feat that has only happened 2 times in 120 years. If the Dow extends its winning streak to 13 today, it will take the pole position.
Today's "big league" Economic Calendar includes: GDP Q4, International trade in goods, Redbook Chain Store Sales, S&P Corelogic Case-Shiller Home Price Index, Chicago PMI, Consumer Confidence, Richmond Fed Mfg. and State Street Investor Confidence Index this morning followed by Farm Prices, Fed's Harker: Economic Outlook, Fed's Williams: Economic Outlook and Fed's Bullard: U.S. Monetary and Economic Policy.
The earnings winners are: Nutrisystem Inc (NTRI), up over 19.5%, The Priceline Group Inc. (PCLN), up over 3.5%, Frontline Ltd. (FRO), up over 3.5%. On the other hand, Seadrill Limited (SDRL) is down over 13%, Valeant Pharmaceuticals International, Inc. (VRX) is down nearly 6%, Workday (WDAY) is down over 5.5% and 3D Systems Corp. (DDD) is down nearly 4.5%.
Futures were flat in early morning, dipped slightly and then recovered by 5:30am only to slip again into the open and are at the lows as we approach the open.
Asian markets ended mixed. China gained 0.40%, Hong Kong dropped 0.77% and Japan went down 0.06%. European markets are basically flat. The UK is up 0.03%, Germany is down 0.04% and France is down 0.01%.
Commodities are mixed this morning. Oil is down 0.68%, natural gas is down 0.59% and gold is down 0.34%. Unleaded gas is down 0.63% and heating oil is down 0.64%. Metals are down except platinum. Meats are up. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.
US consumer confidence rises to highest level since July 2001.
The Priceline Group Inc. (PCLN) reported Q4 results yesterday afternoon that beat estimates and is up over 3.5% in pre-market. Kindred Healthcare, Inc. (KND) announced Q4 results with adjusted earnings of 8 cents per share that beat expectations and is up slightly. Nutrisystem Inc (NTRI) reported Q4 results with net income of 29 cents per share that beat expectations and is up over 19.5%. Hertz Global Holdings, Inc. (HTZ) announced Q4 results with an adjusted loss of 71 cents per share that missed expectations and is up nearly 1.5%. Workday (WDAY) is down over 5.5% after reporting a Q4 loss with adjusted earnings of 7 cents per share that beat expectations.
Target Corporation (TGT) reported Q4 results this morning that missed expectations and is down nearly 13% in pre-market. Domino's Pizza, Inc. (DPZ) announced Q4 results that beat expectations and is up over 1%. Frontline Ltd. (FRO) reported Q4 results with adjusted earnings of 22 cents per share and is up over 3.5%. NRG Energy, Inc. (NRG) announced Q4 results and is up nearly 3%. AutoZone, Inc (AZO) reported Q2 results with profit of $8.08 per share that missed expectations and down over 1.5%. The Bank of Nova Scotia (BNS) announced Q1 results with adjusted earnings of $1.19 per share and is down nearly 1%. 3D Systems Corp. (DDD) is down nearly 4.5% after reporting mixed Q4 results. Valeant Pharmaceuticals International, Inc. (VRX) announced Q4 results that missed estimates and is down nearly 6%. Cheniere Energy, Inc (LNG) reported Q4 results with an adjusted loss of 34 cents per share that missed expectations and is down nearly 2%. Seadrill Limited (SDRL) announced Q4 results with adjusted earnings of 24 cents per share that beat expectations and is down over 13%.
This afternoon after the bell, look out for earnings from Etsy, Inc. (ETSY), Jazz Pharmaceuticals, Inc. (JAZZ), Salesforce.com, Inc. (CRM), La Quinta Holdings Inc. (LQ), Chicago Bridge & Iron Company (CBI), Palo Alto Networks (PANW), Tesaro (TSRO), Weight Watchers International, Inc. (WTW), ACADIA Pharmaceuticals Inc. (ACAD), Ross Stores, Inc. (ROST), Ambarella (AMBA), XO Group Inc. (XOXO) and Blue Buffalo (BUFF).
Tomorrow morning before the open, Office Depot Inc. (ODP), Vitamin Shoppe, Inc. (VSI), Lowe's Companies, Inc. (LOW), Best Buy Co. (BBY), Tribune Media Company (TRCO), Crocs, Inc. (CROX), Dollar Tree, Inc. (DLTR) and American Eagle Outfitters, Inc. (AEO) are expected to report.
A leading Bearish BBY trade strategy is: When the 3 EMA is Above the 27 DEMA AND the 18 day Smoothed Stochastics is Bullish, daily bars.
AAPL had a positively-charged day, ending up 0.20% on very light volume. AAPL opened up at 137.14 to high volume and quickly took a sharp dip to an intra-day low of 136.28 on moderate volume before bouncing back to an intra-day high of 137.43 at 10:28am on moderate volume. AAPL then dipped below 137 ahead of lunchtime on mild volume and held the 137 area in a narrow range on very low volume until shortly before the close when AAPL dipped below 137. AAPL ended the day up 27 cents at 136.93 and dropped 21 cents in after-hours to 136.72.
This morning in pre-market, AAPL opened up higher and fired up to a pre-market high of 137.35 at 6:06am on a target upgrade from UBS to 151 and as an annual Apple shareholder meeting is expected to held today before slipping back towards 137 later in the morning. AAPL is currently up 12 cents at 137.05 as we approach the open.
Classic max-pain is 133.
US consumer confidence rises to highest level since July 2001:
https://www.bloomberg.com/news/articles/2017-02-28/u-s-consumer-confidence-rises-to-highest-since-july-2001
Target to take $1 billion margin hit to close gap with rivals, shares sink:
http://www.reuters.com/article/us-target-results-idUSKBN16719S
Buffett doubles down on Apple:
http://www.usatoday.com/story/tech/news/2017/02/27/apple-shares-up-after-buffett-boosts-stake-17-billion/98470796/
Apple considering another big change to the iPhone:
http://time.com/4685370/iphone-8-rumors-charging-2017/
Are Nokia and Google becoming BFFs?
https://www.cnet.com/news/nokia-and-google-are-techs-most-unlikely-bffs/
Google's latest robot:
http://www.popularmechanics.com/technology/robots/a25420/boston-dynamics-new-robot-handle/
Gates on taxes for robots:
https://www.bloomberg.com/view/articles/2017-02-28/what-s-wrong-with-bill-gates-robot-tax
A murder case tests Alexa's devotion to privacy:
https://www.wired.com/2017/02/murder-case-tests-alexas-devotion-privacy/
What we can learn about SpaceX's trip to the Moon from the Apollo 8 mission:
http://www.theverge.com/2017/2/28/14755804/spacex-private-space-travel-moon-apollo-8-history
Tatooine-like rocky planet debris orbiting 2 suns discovered over 1,000 light years away:
http://www.mirror.co.uk/science/tatooine-like-rocky-planet-debris-9934959
Live cam as April the giraffe prepares to give birth:
https://www.youtube.com/watch?v=ZuYR4cTNbB0
Study finds humans cause 84 percent of US wildfires:
http://www.csmonitor.com/Environment/2017/0228/Study-finds-humans-cause-84-percent-of-US-wildfires
50% of Earth's species could be extinct by 2100:
http://www.techtimes.com/articles/199632/20170228/half-of-earth-s-species-could-be-extinct-by-2100-biologists.htm
More young Americans are getting colon cancer. Why?
http://www.npr.org/sections/health-shots/2017/02/28/517563769/why-are-more-young-americans-getting-colon-cancer
More than 9 hours of sleep could indicate an increased likelihood of developing dementia:
http://www.techtimes.com/articles/199356/20170226/more-than-nine-hours-of-sleep-could-indicate-alzheimers-disease-here-are-other-warning-signs-of-dementia.htm
What's the other half?
https://arstechnica.com/science/2017/02/whats-in-subways-chicken-hint-maybe-only-50-chicken/
Today's Economic Calendar:
8:30 GDP Q4
8:30 International trade in goods
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:45 Chicago PMI
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
3:00 Farm Prices
3:00 PM Fed's Harker: Economic Outlook
3:30 PM Fed's Williams: Economic Outlook
6:30 PM Fed's Bullard: U.S. Monetary and Economic Policy
Notable earnings this afternoon after the bell: DRUNF, LOGM, HLIT, MXWL, NAME, HY, ITRI, NVDQ, AMBC, MRIN, EVHC, ABCO, ATRC, BBRG, DXCM, ENPH, *ETSY*, GNMK, *JAZZ*, ORA, XENT, AR, CHDN, CLI, *CRM*, CYBE, EPR, *LQ*, AIRM, ALEX, BANX, *CBI*, CSU, EXETF, HEI, HK, KWR, MGRC, MITT, MORE, ONVI, *PANW*, PRAA, *TSRO*, UHS, *WTW*, PTLA, *ACAD*, PARR, AEGN, APEI, ASCMA, DPLO, HALO, KAMN, MCEP, MGNX, NMFC, TNET, OXFD, AIOCF, BGFV, BV, CFI, CHUY, DAR, *ROST*, VEEV, ECR, SUPN, GSBD, *AMBA*, BLDR, STV, *XOXO*, INGN, SSW, XNCR, QUMU, AMED, AMC, TASR, PEN, *BUFF*, TCON, EVH, BW, MRIC, ILG, AM, DERM, SRG, SRPT
And tomorrow before the open: IPXL, LXP, NTIOF, *ODP*, *VSI*, DY, DIN, HPT, *LOW*, *BBY*, CORE, EGRX, ITCI, KERX, PCRX, WIN, XLRN, MACK, E, FOLD, GTN, HBP, RESI, *TRCO*, *CROX*, DCI, *DLTR*, STKL, EDGW, EKTAF, INXN, KHNGF, LINC, TORSF, *AEO*, AMIGF, BITA, WSPOF, GTE, LIVN, IEP, AKRX, EVEP, TLPFF, PEGI, EVRZF, FELP, BBAVF, TTI, ZLDSF