Apple Today - 9/02/2016 OPEX (AAPL)
seymour_greenz • September 2nd 2016 09:42:54 AM
Good Morning,
Happy Friday! NASDAQ Futures are up 2 with -5 Fair Value, S&P Futures are down 2 with -5 Fair Value and Dow Futures are down 8 as the jobs report rolls in on this first Friday and OPEX of September. Futures were up in early morning and reached a peak just before 5:30am and then slipped sharply after 7:30am and are now bouncing from the lows in light of jobs data as we approach the open.
Asian markets ended mostly up. China went up 0.13%, Hong Kong gained 0.45% and Japan went down 0.01%. European markets are up. Germany is up 0.18%, France is up 0.78% and the UK is leading the advance, up 0.86%.
Commodities are mixed this morning. Oil is up 0.95%, natural gas is up 0.04% and gold is up 0.99%. Unleaded gas is up 1.80% and heating oil is up 1.35%. Metals are up. Meat is mostly down. Cocoa, coffee, corn, wheat and soybeans are up while cotton is down.
US non-farm payrolls rise less than expected, wage growth moderates. Payrolls in US rise by 151,000 in August, jobless rate steady. Dollar slides as jobs report damps chances of Fed rate increase. US trade deficit narrows as exports hit 10-month high.
Ambarella (AMBA) reported adjusted Q2 earnings of 54 cents per share yesterday afternoon that beat expectations and is down over 2.5% in pre-market. Broadcom Limited (AVGO) announced Q3 results that topped expectations but is down over 0.5%. VeriFone Systems, Inc. (PAY) reported an adjusted Q3 loss of 42 cents per share and cut outlook and is down nearly 17.5%. Lululemon Athletica Inc. (LULU) announced in-line adjusted Q2 earnings of 38 cents per share with soft guidance and is down nearly 8.5%.
On Tuesday morning after Labor Day festivities, keep an eye out for earnings from Marvell Technology Group Ltd (MRVL).
After a little morning dip in the road, AAPL drove up through rolling green hills, ending up 0.59% on low volume. AAPL opened up at 106.14 to high volume and grasped at the mid-106 area within 20 minutes on mild volume before hitting a valley in the road at 10am, dragging AAPL down into the red to an intra-day low of 105.62 at 10:32am on strong volume. AAPL bounced back and turned green again on low volume in just over an hour. AAPL continued driving up and set an intra-day high of 106.80 at 1:22pm on moderate volume before hitting another small dip in the road down into the mid-106 area at 3:30pm on moderate volume. AAPL drove back up again into the close on moderate volume and ended up near the high of the day. AAPL ended the day up 63 cents at 106.73 and gained another penny in after-hours to 106.74.
This morning in pre-market, AAPL picked up with yesterday's after-hours and continued driving up through those green hills towards 107 and really popped after the jobs report, Galaxy recall and word of a favorable buy 185 target from Drexel Hamilton. AAPL subsequently breached the mid-107 area and hit a pre-market high of 107.65 at 9:18am. AAPL is currently up 93 cents at 107.66 as we approach the open.
Classic max-pain is 106. Today is OPEX and Monday is a holiday for Labor Day. Have a good long weekend with your friends and family.
US non-farm payrolls rise less than expected, wage growth moderates:
http://www.reuters.com/article/us-usa-economy-idUSKCN1180CU
Payrolls in US rise by 151,000 in August, jobless rate steady:
http://www.bloomberg.com/news/articles/2016-09-02/payrolls-in-u-s-rise-by-151-000-in-august-jobless-rate-steady
Dollar slides as jobs report damps chances of Fed rate increase:
http://www.bloomberg.com/news/articles/2016-09-02/dollar-slides-as-jobs-report-damps-chances-of-fed-rate-increase
US trade deficit narrows as exports hit 10-month high:
http://www.reuters.com/article/us-usa-economy-trade-idUSKCN1181MB
Slower growth in jobs report may give Fed pause on interest rate:
http://www.nytimes.com/2016/09/03/business/economy/jobs-report-hiring-unemployment-wages-fed-interest-rates.html?_r=0
Chinese government flexes muscles with Uber, DreamWorks probes:
http://www.reuters.com/article/us-uber-china-m-a-didi-idUSKCN1180KJ
Walmart is eliminating white-collar positions, and that means every job is under threat:
http://qz.com/772520/walmart-is-eliminating-white-collar-positions-and-that-means-every-job-is-under-threat/
What to expect with Apple's iPhone 7 announcement:
http://www.theverge.com/2016/9/2/12639648/apple-iphone-7-event-rumors-watch
Apple shows off the first Siri-powered apps arriving in iOS 10:
https://techcrunch.com/2016/09/01/apple-shows-off-the-first-siri-powered-apps-arriving-in-ios-10/
Samsung recalls Note 7 flagship over explosive batteries:
http://www.bbc.com/news/business-37253742
Google suspends Project Ara DIY smartphone work:
http://www.bbc.com/news/technology-37255719
Razer opens preorders for GTX 1060-powered Blade laptop:
http://www.theverge.com/2016/9/2/12710192/razer-blade-geforce-gtx-1060-release-date-price-preorder
Qualcomm plots cheaper VR with all-in-one headset:
http://arstechnica.com/gadgets/2016/09/qualcomm-snapdragon-vr-820-price-specs-release-date/
Sony shows off $3,200 gold-plated Walkman:
http://www.upi.com/Business_News/2016/09/02/Sony-shows-off-3200-gold-plated-Walkman/1411472813399/
Need a turtleneck?
http://time.com/4476436/steve-jobs-turtleneck-auction/
SpaceX investigating cause of Falcon 9 rocket explosion:
http://www.space.com/33945-spacex-investigating-rocket-explosion-elon-musk.html
NASA's Dawn mission spies ice volcanoes on Ceres:
http://www.scientificamerican.com/article/nasa-s-dawn-mission-spies-ice-volcanoes-on-ceres/
Alien signal source reportedly located:
http://www.npr.org/sections/thetwo-way/2016/09/01/492299629/alien-signal-source-reportedly-located-it-wasnt-the-vulcans
Watch hurricanes from space:
http://www.usatoday.com/story/news/nation-now/2016/09/01/nasa-captures-stunning-footage-three-hurricanes-from-international-space-station/89707482/
Why it could take 100 years to recover from poaching:
http://www.csmonitor.com/Environment/2016/0831/Africa-s-elephants-why-it-could-take-100-years-to-recover-from-poaching
Plastic clothing inspired by kitchen wrap releases body's infrared radiation to cool the skin:
http://www.techtimes.com/articles/175981/20160902/plastic-clothing-inspired-by-kitchen-wrap-releases-bodys-infrared-radiation-to-cool-the-skin.htm
Dogs use same parts of brain to process speech as humans:
http://www.reuters.com/article/us-hungary-dogs-research-idUSKCN1181L5
Louisiana has highest obesity rate in adults across US:
http://www.techtimes.com/articles/176048/20160902/louisiana-has-highest-obesity-rate-in-adults-across-us.htm
Singaporeans wary as Zika spreads:
http://time.com/4477271/singapore-zika-spread-mosquitoes/
Zika spraying kills millions of honeybees:
http://www.cnn.com/2016/09/01/health/zika-spraying-honeybees/
Yoga, tai chi may help manage chronic pain:
http://timesofindia.indiatimes.com/life-style/health-fitness/health-news/Yoga-tai-chi-may-help-manage-chronic-pain/articleshow/53979860.cms?
Today's Economic Calendar:
8:30 Non-farm payrolls
8:30 International Trade
10:00 Factory Orders
1:00 PM Baker-Hughes Rig Count
1:00 PM Fed's Lacker speech
Notable earnings this afternoon after the bell: ADAT, LFVN, UBA
And on Tuesday before the open: GFN, *MRVL*, NSSC, OPTT