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Apple Today - 9/08/2016 (AAPL)

seymour_greenz • September 8th 2016 09:53:48 AM

Good Morning,

NASDAQ Futures are down 16 with -18 Fair Value, S&P Futures are down 6 with -7 Fair Value and Dow Futures are down 59 on this Thursday as Apple's new product event gets digested on the heels of a busy economic schedule including jobless claims this morning and a slight uptick in earnings. Futures were up in early morning and peaked shortly before 4:30am and then slipped to neutral over the next 3 hours, then dove hard after jobless claims and are currently at the lows as we approach the open.

Asian markets ended mixed. China went up 0.17%, Hong Kong gained 0.55% and Japan dropped 0.72%. European markets are mostly up. The UK is up 1.24%, Germany is up 0.15% and France is down 0.12%.

Commodities are mostly up this morning. Oil is up 1.52%, natural gas is up 1.53% and gold is up 0.16%. Unleaded gas is up 1.83% and heating oil is up 1.06%. Metals are mixed, gold and silver are up while copper and platinum are down. Meat is up strong. Cocoa, corn, wheat and soybeans are are up while coffee and cotton are down.

US jobless claims in decline to lowest level in 7 weeks. Oil rises as industry data signal drop in US crude stockpiles. HP Enterprise strikes $8.8 billion deal with Micro Focus for software assets.

FuelCell Energy, Inc. (FCEL) reported a Q3 earnings loss of 38 cents per share yesterday afternoon that beat expectations and is down nearly 8% in pre-market. Hewlett Packard Enterprise (HPE) announced Q3 results and a $2.5 billion software spin-out and is down over 2.5%. On the other hand, Tailored Brands, Inc (TLRD) reported Q2 results that beat forecasts with adjusted earnings of 99 cents per share and is up nearly 13%.

Barnes & Noble Inc (BKS) announced an adjusted Q1 loss of 7 cents per share this morning and is down over 5.5% in pre-market. Navistar International Corporation (NAV) reported an adjusted Q3 loss of 13 cents per share alongside a subpoena from the United States Department of Defense Inspector General and is down nearly 2.5%.

This afternoon after the bell, look out for earnings from Finisar Corporation (FNSR) and Restoration Hardware (RH).

Tomorrow morning before the open, Kroger Co. (KR) and Swift Transportation Company (SWFT) are expected to report.

AAPL held up remarkably well through this yesterday's product event, ending up 0.61% on high volume. AAPL opened up at 107.86 to high volume, grasped at 108 and then began a 3.5 hour controlled dip on mild volume, hitting an intra-day low of 107.07 at 12:52pm on moderate volume just before the big event kicked off. As Apple introduced a new Apple Watch Series 2 and the iPhone 7 and 7 Plus, AAPL held to the mid-107 area on moderate but tapering volume. This changed, however into 3pm as the event ended and AAPL appeared to be pressuring support on high volume but suddenly bounced back strong into positive territory shortly after 3pm and then quickly soared even further up above 108 within minutes and kept going to peak at 108.76 at 3:50pm on huge volume before settling a bit into the close. AAPL ended the day up 66 cents at 108.36 and dropped 21 cents in after-hours to 108.15.

This morning in pre-market, AAPL picked up with yesterday's after-hours and continued dipping into the upper-107 area and really dipped to the low-107 area later in the morning as Futures soured after the jobless claim data and after it was reported that Apple would not announce 1st weekend sales of iPhone 7. AAPL is currently down 1.02 at 107.34 as we approach the open.

Classic max-pain is 107.

US jobless claims in decline to lowest level in 7 weeks:

Oil rises as industry data signal drop in US crude stockpiles:

HP Enterprise strikes $8.8 billion deal with Micro Focus for software assets:

The iPhone is still a fundamentally superb phone:

Apple Pay to launch in Japan, New Zealand and Russia this year:

Is 32GB enough for iPhone 7?

Apple Music tops 17 million users, with service growing at steady rate:

Amazon's Alexa is finally coming to mobile, but not how you might expect:

Who's really pulling the strings (and pressing “send”) on the social-media accounts of the famous:

Watch NASA asteroid-sampling space probe today:

What did the real "Loch Ness Monster" look like?

When DNA fails, a single strand of hair may save the day:

Carbon nanotubes outperform silicon for the first time:

Pampered pandas!

Singapore says unclear if local Zika strain causes birth defects:

Immune-based drug may ease chronic eye condition:

Cord-blood transplants show promise in leukemia treatment:

Today's Economic Calendar:
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Quarterly Services Report
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
3:00 PM Consumer Credit
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

Notable earnings this afternoon after the bell: EGAN, ESNC, KFY, PPHM, VISI, CRDS, *FNSR*, IRET, LMNR, VMEM, ZUMZ, DLTH, DDC, CHKE, AVNW, CRESY, IRS, XTLY, VNCE, *RH*, AVIR

And tomorrow before the open: EROS, BRC, *KR*, HOV, TNP, MFRM, *SWFT*

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