Apple Today 3/24/2017 OPEX (AAPL)
seymour_greenz • March 24th 2017 11:03:09 AM
Good Morning,
S&P Futures are up 5 with +2 Fair Value, NASDAQ Futures are up 15 with +12 Fair Value and Dow Futures are up 53 as we close out this week with an OPEX amid "double trouble" uncertainty on the health care vote and a key OPEC meeting. Bitcoin prices slipped below 1000 again as "hard fork" concerns mount.
This morning's Economic Calendar includes: Fed's Evans speech, Fed's Bullard speech, Durable Goods and PMI Composite Flash followed by Baker-Hughes Rig Count this afternoon.
The earnings winner is: Micron Technology Inc. (MU), up nearly 13.5%.
On the other hand, The Finish Line, Inc. (FINL) is down nearly 15% and GameStop Corp. (GME) is down over 10.5%.
Futures were up in early morning, peaked shortly before 2am and then dipped to lows by 6:30am, bouncing back sharply and are off the highs as we approach the open.
Asian markets ended up. China gained 0.64%, Hong Kong went up 0.13% and Japan led the advance, up 0.93%. European markets are down. The UK is down 0.01%, Germany is down 0.06% and France is leading the decline, down 0.41%.
Commodities are mixed this morning. Oil is up 0.75%, natural gas is down 0.62% and gold is down 0.16%. Unleaded gas is up 0.74% and heating oil is up 0.75%. Metals are are down except silver. Meats are mostly down. Cotton and wheat are up while cocoa, coffee, corn, and soybeans are down.
Orders for US durable goods increase more than forecast. Oil edges up as Saudis cut supplies to US, global glut remains. Fed's Bullard says he's ok with another rate hike this year.
Shoe Carnival, Inc. (SCVL) reported a Q4 loss yesterday afternoon with adjusted earnings of 7 cents per share and is up slightly in pre-market. KB Home (KBH), is also up slightly after announcing Q1 results with earnings of 15 cents per share that beat expectations. GameStop Corp. (GME) reported Q4 results with adjusted earnings of $2.38 per share that beat expectations and is down over 10.5%. Micron Technology Inc. (MU) announced Q2 results with adjusted earnings of 90 cents per share that beat expectations and is up nearly 13.5%.
The Finish Line, Inc. (FINL) reported a Q4 loss with adjusted earnings of 50 cents per share that missed expectations and is down nearly 15% in pre-market.
A leading Bullish F swing trade strategy is: When the 20 SMA is Above the 55 DEMA AND the 23 day Smoothed Stochastics is Bullish, daily bars.
AAPL went fishing below 141 yesterday, ending down 0.35% on very low volume. AAPL opened at 141.26 to high volume and dipped to an intra-day low of 140.61 on 10:14am on low volume before bouncing up sharply to an intra-day high of 141.58 at 12:24pm on very low volume. AAPL subsequently dipped again to the upper-140 area on low volume and bounced back to the low-141 area before slipping toward the lows into the close on mild volume and ending with a high volume dash towards 141. AAPL ended the day down 50 cents at 140.92 and gained 8 cents after-hours to 141.00.
This morning in pre-market, AAPL picked up with yesterday's close, scraped a pre-market low of 140.76 at 7:23am on news of Needham & Company downgrading Apple (AAPL) to Buy with a $165 target before bouncing back into the mid-141 area. AAPL is currently up 33 cents at 141.25 as we approach the open.
Classic max-pain is 140. Today is OPEX. Have a good weekend with your friends and family.
Orders for US durable goods increase more than forecast:
https://www.bloomberg.com/news/articles/2017-03-24/orders-for-u-s-durable-goods-increase-more-than-forecast
Oil edges up as Saudis cut supplies to US, global glut remains:
http://www.reuters.com/article/us-global-oil-idUSKBN16V03M
US Senate votes to overturn broadband privacy rules:
http://www.reuters.com/article/us-usa-internet-idUSKBN16U2ER
Fed's Bullard says he's ok with another rate hike this year:
http://www.reuters.com/article/us-usa-fed-bullard-idUSKBN16V1NB
GameStop (GME) tops Q4 earnings, tumbles on outlook:
http://www.nasdaq.com/article/gamestop-gme-tops-q4-earnings-stock-tumbles-on-drab-view-cm765152
Micron's upbeat forecast rides on rising chip prices:
http://www.reuters.com/article/us-micron-tech-results-idUSKBN16U2UL
Apple says recent Wikileaks CIA docs detail old, fixed iPhone and Mac exploits:
https://techcrunch.com/2017/03/23/apple-says-recent-wikileaks-cia-docs-detail-old-fixed-iphone-and-mac-exploits/
Apple is working on a dockable iPhone that converts into a laptop:
http://www.zdnet.com/article/could-your-iphone-replace-your-laptop-apple-toys-with-dockable-phone-that-turns-into-pc/
Apple's acquisition of Workflow could bring automation to iOS:
http://www.macworld.com/article/3184615/ios/apples-acquisition-of-workflow-could-bring-automation-to-ios.html
Robots to affect up to 30% of UK jobs, says PwC:
http://www.bbc.com/news/business-39377353
Free goodies for playing video games:
https://www.cnet.com/news/razer-zvault-rewards-program/
Watch live as astronauts take a spacewalk today:
http://www.space.com/36198-space-station-astronauts-march-24-spacewalk-webcast.html
Curiosity captures gravity wave shaped clouds on Mars:
http://www.sciencemag.org/news/2017/03/mars-rover-spots-clouds-shaped-gravity-waves
NASA Found monster black hole kicked out of galactic core:
http://www.techtimes.com/articles/202940/20170324/nasa-found-monster-black-hole-kicked-out-of-galactic-core.htm
Moore's law for carbon would defeat global warming:
https://www.theguardian.com/environment/2017/mar/23/moores-law-carbon-would-defeat-global-warming
Should you boycott Earth Hour?
http://www.independent.co.uk/voices/earth-hour-climate-change-environment-fossil-fuels-boycott-make-change-happen-really-care-a7643971.html
Nearly 2-3rds of cancers are due to random DNA "mistakes":
http://www.livescience.com/58393-cancer-caused-by-random-dna-mistakes.html
White middle class Americans are dying at an alarming rate:
http://fortune.com/2017/03/23/death-rates-white-americans-rising/
Scientists reverse DNA aging in mice:
http://time.com/4711023/how-to-keep-your-dna-from-aging/
April is very close now!
https://www.youtube.com/watch?v=rMcKvp_Glb8
Today's Economic Calendar:
8:00 Fed's Evans speech
8:05 Fed's Bullard speech
8:30 Durable Goods
9:45 PMI Composite Flash
1:00 PM Baker-Hughes Rig Count
Notable earnings this afternoon after the bell: ARMZF
And on Monday before the open: CALM