Apple Today 3/28/2017 (AAPL)
seymour_greenz • March 28th 2017 11:39:59 AM
Good Morning,
S&P Futures are down 3 with -3 Fair Value, NASDAQ Futures are down 5 with -2 Fair Value and Dow Futures are down 27 on this Tuesday leading into the home stretch of March. The Dow Jones industrial average fell for the 8th day in a row on Monday, the longest slump since 2011. Despite last week's performance, US stocks are not far off record levels hit earlier in the month. After decisively breaking back above 1000, Bitcoin soared past 1050 within the past 24-hours and is currently over the 1060 line.
This morning's Economic Calendar includes: International trade in goods, Redbook Chain Store Sales, S&P Corelogic Case-Shiller Home Price Index, Consumer Confidence, Richmond Fed Mfg. and State Street Investor Confidence Index followed by Fed's George speech and Results of $26B, 5-Year Note Auction this afternoon.
The earnings winners are: Red Hat, Inc. (RHT), up nearly 5.5% and Darden Restaurants, Inc. (DRI), up over 4%.
On the other hand, FactSet Research Systems Inc. (FDS) is down over 3.5% and McCormick & Company, Inc. (MKC) is down nearly 1.5%.
Futures were up in early morning, peaked shortly after 1:30am and then slipped sharply into negative territory just before 7:30am and are near the lows as we approach the open.
Asian markets ended mixed. China went down 0.43%, Hong Kong went up 0.63% and Japan gained 1.14%. European markets are mixed. The UK is up 0.04%, Germany is up 0.50% and France is up 1.14%.
Commodities are mixed this morning. Oil is up 1.19%, natural gas is down 0.59% and gold is up 0.10%. Unleaded gas is up 1.19% and heating oil is up 0.93%. Metals are mixed, gold and silver are up while copper and platinum are down. Meats are down. Cotton, corn, wheat and soybeans are up while cocoa and coffee are down.
Market flat as investors look beyond healthcare bill. US consumers most confident since 2000. Home prices rise faster than expected in January.
Red Hat, Inc. (RHT) reported Q4 results yesterday afternoon with adjusted earnings of 61 cents that met expectations and is up nearly 5.5% in pre-market. Darden Restaurants, Inc. (DRI) is up over 4% after reporting Q3 results that beat expectations.
FactSet Research Systems Inc. (FDS) reported Q2 results with adjusted earnings of $1.81 per share that beat expectations and is down over 3.5% in pre-market. Carnival Corporation (CCL) announced Q1 results and is up nearly 0.5%. McCormick & Company, Inc. (MKC) reported Q1 results with adjusted earnings of 76 cents per share that beat expectations and is down nearly 1.5%.
This afternoon after the bell, look out for earnings from Dave & Buster's Entertainment, Inc. (PLAY), RH (RH) and Sonic Corp. (SONC).
Tomorrow before the open, Paychex, Inc. (PAYX) is expected to report.
A leading Bullish AMZN swing trade strategy is: When the 10 SMA is Above the 24 SMA, daily bars.
AAPL grazed up 0.17% on lower than average volume. AAPL opened at 139.39 to high volume and immediately set an intra-day low of 138.62 before marching up to 140 by 10:15am on moderate volume and then continued onward to set an intra-day high of 141.22 at 1:10pm on mild volume. Despite a shallow dip into the upper-140 area, AAPL held the 141-zone pretty well for the remainder of the day and ended the day up 24 cents at 140.88 and gained 22 more cents in after-hours to 141.10.
This morning in pre-market, AAPL opened higher in conjunction with Futures and then turned red alongside them despite FBR & Co. reiterating an AAPL Outperform rating with $155 price target. UBS followed up by maintaining AAPL coverage with a Buy and $151 target and then AAPL began to bounce off of 140.73 at 9am. AAPL is currently up 2 cents at 140.90 as we approach the open.
Classic max-pain is 140.
Market flat as investors look beyond healthcare bill:
http://www.reuters.com/article/us-usa-stocks-idUSKBN16Z1D0
US consumers most confident since 2000:
http://www.reuters.com/article/us-usa-economy-confidence-idUSKBN16Z1YF
Home prices rise faster than expected in January:
http://www.reuters.com/article/us-usa-economy-idUSKBN16Z1MX
China's Tencent takes 5% stake in electric-car maker Tesla:
http://www.reuters.com/article/us-tesla-stake-tencent-holdings-idUSKBN16Z1FJ
Apple rumor roundup:
http://fortune.com/2017/03/27/apple-rumor-roundup/
Amazon clinches deal to buy Middle East online retailer:
http://www.reuters.com/article/us-souq-com-m-a-amazon-com-idUSKBN16Z0Q1
Amazon is testing grocery pickup in Seattle:
http://www.zdnet.com/article/amazon-is-testing-grocery-pickup-in-seattle/
Facebook launches stories to complete its all-out assault on Snapchat:
http://www.theverge.com/2017/3/28/15081398/facebook-stories-snapchat-camera-direct
Galaxy S8 will be Samsung's biggest test ever:
http://www.theverge.com/2017/3/28/15078352/samsung-galaxy-s8-preview-event-announcement-challenges
Android co-founder Andy Rubin is making a brand-new smartphone:
http://www.techtimes.com/articles/203249/20170328/android-cofounder-andy-rubin-is-making-a-brand-new-smartphone-and-here-s-what-it-looks-like.htm
Elon Musk creates Neuralink brain electrode firm:
http://www.bbc.com/news/technology-39416231
SpaceX is about to make history by relaunching a used Falcon 9 rocket:
http://www.theverge.com/2017/3/28/15071288/spacex-launch-recycled-falcon-9-rocket-landing-schedule
Juno spacecraft skims Jupiter's cloud tops in 5th flyby:
http://www.space.com/36222-nasa-juno-spacecraft-5th-jupiter-flyby.htmlhttp://www.space.com/36222-nasa-juno-spacecraft-5th-jupiter-flyby.html
Did an asteroid trigger ancient tsunamis on Mars?
https://www.csmonitor.com/Science/2017/0326/Did-an-asteroid-trigger-ancient-tsunamis-on-Mars
Can you help find "Planet 9"?
http://www.bbc.com/news/world-australia-39401667
World's biggest dinosaur footprint found:
http://www.cnn.com/2017/03/27/asia/dinosaur-discovery-australia/index.html
How the mouse came to live alongside humans:
http://www.bbc.com/news/science-environment-39383041
There are at least 79 obesity "syndromes":
http://www.livescience.com/58421-obesity-syndromes.html
Lead exposure in childhood may lower IQ later on:
http://time.com/4713970/childhood-lead-exposure-iq/
The life-saving treatment that's being thrown in the trash:
https://arstechnica.com/science/2017/03/the-life-saving-treatment-thats-being-thrown-in-the-trash/
April is getting moody:
https://www.cnet.com/news/april-the-giraffe-pregnant-kick-the-vet-animal-adventure-park-baby-giraffe-birth/
Yet another reason to stop drinking soda:
http://www.bbc.com/news/uk-northern-ireland-39416944
Today's Economic Calendar:
International trade in goods
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
12:45 PM Fed's George speech
1:00 PM Results of $26B, 5-Year Note Auction
Notable earnings this afternoon after the bell: WLB, PTX, STVI, EVOL, LEU, IGXT, ICTV, CYCC, OLLI, AST, *PLAY*, VRNT, *RH*, *SONC*, DSS, IZEA, TEUM, CREX, LFDEF
And tomorrow before the open: AGFMF, EMIS, MAGS, OMN, SUNW, KGILF, DBEXF, UNF, *PAYX*, STDAF, NPACF, SCWX