Apple Today 3/16/2017 (AAPL)
seymour_greenz • March 16th 2017 10:13:55 AM
Good Morning,
S&P Futures are up 3 with +1 Fair Value, NASDAQ Futures are up 8 with +6 Fair Value and Dow Futures are up 46 as the dust settles from yesterday's Fed rate hike as well as election results from the Netherlands. As expected, the Fed raised its key interest rate by 0.25 percentage point yesterday on Wednesday and today is quite a big day for economic data.
This morning's action-packed Economic Calendar includes: Housing Starts, Initial Jobless Claims, Philly Fed Business Outlook, Bloomberg Consumer Comfort Index, Job Openings and Labor Turnover Survey and EIA Natural Gas Inventory followed by Fed Balance Sheet and Money Supply this afternoon.
The earnings winners are: Oracle Corporation (ORCL), up over 7% and Williams-Sonoma Inc. (WSM), up nearly 3%. On the other hand, Guess? Inc. (GES) is down over 15% and Dollar General Corporation (DG) is down over 0.5%.
Futures were up in early morning and peaked around 4am before dipping and are still in positive territory but at the lows as we approach the open.
Asian markets ended up. China gained 0.84%, Japan went up 0.07% and Hong Kong led the advance, up 2.08%. European markets are up. The UK is up 0.52%, France is up 0.51% and Germany is leading the advance, up 0.62%.
Commodities are mixed this morning. Oil is up 0.84%, natural gas is down 2.38% and gold is up 2.67%. Unleaded gas is up 1.19% and heating oil is up 0.43%. Metals are up strong. Meats are mostly up. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.
Fed's "dovish hike" sends shares to record highs, dollar dips. Fewer Americans filed claims last week for jobless benefits.
Oracle Corporation (ORCL) reported Q3 results yesterday afternoon with adjusted earnings of 69 cents per share that beat expectations and is up over 7% in pre-market. Guess? Inc. (GES) announced Q4 results with adjusted earnings of 41 cents per share that missed expectations and is down over 15%. Jabil Circuit Inc. (JBL) reported Q2 results with adjusted earnings of 48 cents per share that beat expectations and is down slightly. Williams-Sonoma Inc. (WSM) announced Q4 results with adjusted earnings of $1.55 per share that beat expectations and is up nearly 3%. magicJack VocalTec Communications Ltd. (CALL) reported a Q4 loss with adjusted earnings of 14 cents per share and looks to be headed for a higher open. Avid Technology, Inc. (AVID) announced Q4 results and looks to be headed for a lower open. Evoke Pharma, Inc. (EVOK) reported Q4 results and looks to be headed for a higher open.
Dollar General Corporation (DG) announced Q4 results this morning with a profit of $1.49 per share that beat expectations and is down over 0.5% in pre-market.
This afternoon after the bell, look out for earnings from Adobe Systems Incorporated (ADBE) and New York & Company, Inc. (NWY).
Tomorrow before the open, Vuzix Corp (VUZI) is expected to report.
A leading Bullish ADBE swing trade strategy is: When the 17 SMA is Above the 42 DEMA, daily bars.
AAPL had a kickin', screamin' & Yellin' day, ending up 1.06% on lower than average volume. AAPL opened up at 139.41 to high volume and quickly set an intra-day low of 139.02 at 9:50am on moderate volume before bouncing and pushing up to 140 by the end of lunchtime. AAPL continued to gain at the 2pm Fed event and reached an intra-day high of 140.75 at 3:36pm on moderate volume before dipping slightly into the close on strong volume. AAPL ended the day up $1.47 at 140.46 and gained 6 cents in after-hours to 140.52.
This morning in pre-market, AAPL opened higher in conjunction with Futures and touched a pre-market high of 141 at 5:25am amid reports of Cowen maintaining AAPL coverage with Outperform and a 135 price target before retreating to the upper-140 area. AAPL is currently up 25 cents at 140.71 as we approach the open.
Classic max-pain is 135.
Fed's "dovish hike" sends shares to record highs, dollar dips:
http://in.reuters.com/article/us-global-markets-idINKBN16M3C9
Fewer Americans filed claims last week for jobless benefits:
https://www.bloomberg.com/news/articles/2017-03-16/fewer-americans-filed-claims-last-week-for-jobless-benefits
Yahoo breach indictments may shed light on other hacks:
https://www.washingtonpost.com/business/technology/russian-agents-hackers-charged-in-massive-yahoo-breach/2017/03/15/2303c828-09dd-11e7-bd19-fd3afa0f7e2a_story.html
China consumer day show skewers Nike shoes, Muji foods:
http://www.reuters.com/article/us-china-consumerday-idUSKBN16M17B
Apple estimated to grab 14% of OLED panel production this year for iPhone 8:
https://9to5mac.com/2017/03/16/apple-estimated-to-grab-14-of-oled-panel-production-this-year-for-iphone-8/
Nvidia and Bosch team up to build an AI supercomputer for your self-driving car:
https://arstechnica.com/cars/2017/03/nvidia-and-bosch-team-up-to-build-an-ai-supercomputer-for-your-self-driving-car/
AMD reveals Ryzen 5 prices as it sidesteps performance questions:
http://www.pcworld.com/article/3180799/components-processors/amd-reveals-ryzen-5-prices-as-it-sidesteps-performance-questions.html
2017 Samsung Galaxy A7 review:
https://www.cnet.com/products/samsung-galaxy-a7-2017/review/
You can get a free Google Home if you buy an LG G6 before April 30th:
http://www.theverge.com/circuitbreaker/2017/3/16/14934570/lg-g6-google-home-deal-buy-release
Lucid Motors' electric car will cost $60k:
http://www.theverge.com/2017/3/16/14944068/lucid-motors-air-electric-car-price-range-specs
Monsanto weed killer Roundup faces new doubts on safety in unsealed documents:
https://www.nytimes.com/2017/03/14/business/monsanto-roundup-safety-lawsuit.html
Europa lander and Asteroid Redirect Mission cancelled:
http://www.theverge.com/2017/3/16/14942200/nasa-budget-plan-trump-administration-cuts
Star in record-breaking orbit around black hole:
https://www.scientificamerican.com/article/star-in-record-breaking-close-orbit-around-black-hole/
Dark matter was less influential in the early universe:
http://www.upi.com/Science_News/2017/03/15/Dark-matter-was-less-influential-in-the-early-universe/8241489603833/
Get close to an active volcano in this latest Google Street View:
http://www.theverge.com/2017/3/16/14944022/google-street-view-active-volcano-360-degree
Whales are swarming near South Africa and no one knows why:
http://www.popularmechanics.com/science/animals/a25705/whale-swarm-south-africa/
Researchers find the first naturally fluorescent frog species:
http://www.smithsonianmag.com/smart-news/researchers-find-first-fluorescent-frog-species-180962538/
UK clinic gets approval for 3-parent babies:
http://www.cnn.com/2017/03/16/health/three-parent-babies-embryos-approval-uk-bn/
What young people need to know about colon cancer:
https://www.nytimes.com/2017/03/16/well/live/what-young-people-need-to-know-about-colon-cancer.html
Lost smartphones can lead to huge anxiety:
http://www.techtimes.com/articles/201841/20170316/lost-your-smartphone-its-nearly-as-stressful-as-terrorist-threats-says-study.htm
Why would someone do this?
http://www.huffingtonpost.com/entry/what-causes-someone-to-fake-cancer-on-the-internet_us_58c96b36e4b0cb7d28ce1831
Today's Economic Calendar:
8:30 Housing Starts
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
9:45 Bloomberg Consumer Comfort Index
10:00 Job Openings and Labor Turnover Survey
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings this afternoon after the bell: WLB, EXA, CAL, HDELY, *ADBE*, *NWY*, XONE, OXBDF, OMER, FF, LNXSF, XBIT, CLSN, KGDEY, PRBZF, SAFLF, AVXS
And tomorrow before the open: TINY, *VUZI*