Apple Today - 9/29/2016 (AAPL)
seymour_greenz • September 29th 2016 09:39:40 AM
Good Morning,
NASDAQ Futures are down 11 with -11 Fair Value, S&P Futures are down 4 with -5 Fair Value and Dow Futures are down 26 on this final September Thursday complete with an eye-popping mega-economic calendar, including Q2 GDP, jobless claims, pending home sales and multiple Fed appearances. Oil producers have agreed to cap output for the 1st time since the financial crisis, though some doubts on the deal remain and Wells Fargo CEO Stumpf returns Capitol Hill today to testify. Futures were up in early morning and got chipped away over the morning, touching red shortly after 6:30am and then slipping further and sharply after 8am and are at the lows as we approach the open.
Asian markets ended up. China went up 0.36%, Hong Kong gained 0.51% and Japan led the advance, up 1.39%. European markets are up. The UK is up 0.96%, Germany is up 0.46% and France is leading the advance, up 1.18%.
Commodities are mixed this morning. Oil is down 0.26%, natural gas is up 0.33% and gold is up 0.08%. Unleaded gas is down 1.15% and heating oil is down 0.17%. Metals are mixed, gold and copper are up while silver and platinum are down. Meat is up. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.
US economy expanded at revised 1.4% rate in Q2. Oil shares lift global stocks, crude dips on doubt over OPEC deal.
Pier 1 Imports Inc. (PIR) reported Q2 earnings yesterday afternoon with a lower than expected loss of 5 cents per share and is up nearly 10% in pre-market.
PepsiCo Inc. (PEP) announced Q3 results this morning with adjusted earnings of $1.40 per share, beating expectations and is up nearly 2.5% in pre-market. Accenture plc (ACN) reported Q4 adjusted earnings of $1.31 per share, beating expectations and is up over 3.5%. ConAgra Foods, Inc. (CAG) announced Q1 results that topped expectations and is up nearly 2%.
This afternoon after the bell, look out for earnings from Costco Wholesale Corporation (COST).
Tomorrow morning before the open, McCormick & Company, Inc. (MKC) is expected to report.
AAPL floated up into the green by 0.76% yesterday among ominous red curtains. AAPL gapped up to open at 113.66 on high volume, rising up quickly to the mid-114 area by 10am on strong volume and setting an intra-day high of 114.64 at 10:03am on moderate volume before slipping down to the mid-113 area over the next few hours on moderate volume and then hitting an intra-day low of 113.43 at 12:35pm on moderate volume. AAPL bounced back and floated back up to the 114-area on low volume and hovered around 114 for the remainder of the day and ending up just shy of 114. AAPL ended up 86 cents at 113.95 and dropped 10 cents in after-hours to 113.85.
This morning in pre-market, AAPL picked up with yesterday's after-hours and sunk towards 113, hitting a low of 113 at 7:10am among a slight price target reduction from 115 to 114 by Barclays before bouncing back into the low-113 area. Barclays maintained AAPL overweight. AAPL is currently up 47 cents at 113.56 as we approach the open.
Classic max-pain is 112. It's a busy day on the economic calendar today.
US economy expanded at revised 1.4% rate in Q2:
http://www.bloomberg.com/news/articles/2016-09-29/u-s-economy-expanded-at-revised-1-4-rate-in-second-quarter
Oil shares lift global stocks, crude dips on doubt over OPEC deal:
http://www.reuters.com/article/us-global-markets-idUSKCN11Z01H
Stumpf heads to the Hill:
http://www.reuters.com/article/us-wells-fargo-accounts-ceo-idUSKCN11Z0EI?il=0
Saudi Arabia may still fight back against 9/11 lawsuit bill:
http://www.nytimes.com/aponline/2016/09/29/world/middleeast/ap-ml-saudi-arabia-us.html
Trump's fortune drops $800m in 1 year:
http://www.bbc.com/news/world-us-canada-37501557
PepsiCo shares rise after beating estimates on snack and drink sales:
http://fortune.com/2016/09/29/pepsico-sales-estimates-shares/
Accenture revenue tops estimates on strong cloud services demand:
http://www.reuters.com/article/us-accenture-results-idUSKCN11Z1ER
Cosi restaurant chain files for bankruptcy:
http://www.usatoday.com/story/money/2016/09/28/cosi-restaurant-chain-chapter-11-bankruptcy/91226492/
Apple iPhone 8 already in the works:
https://www.cnet.com/news/apple-iphone-8-already-in-the-works-report-says/
Apple's new dual-screen MacBook Pro might be launching next month:
http://www.businessinsider.com/apple-new-dual-touch-screen-macbook-pro-launch-late-october-report-2016-9
Galaxy S8 leak reveals powerful surprise:
http://www.forbes.com/sites/ewanspence/2016/09/29/samsung-galaxy-s8-leak-vr-graphics/#6cdd96725945
Facebook's annual software fest F8 kicks off April 18:
https://www.cnet.com/news/facebooks-annual-software-fest-f8-kicks-off-april-18-analytics-for-apps-web/
HP Inc backtracks on controversial printer lockdown:
http://fortune.com/2016/09/29/hp-printer-ink/
Big boys team up to pacify AI fears:
http://www.theverge.com/2016/9/28/13094668/facebook-google-microsoft-partnership-on-ai-artificial-intelligence-benefits
Automakers show off electric cars at Paris show:
http://www.usnews.com/news/business/articles/2016-09-29/automakers-show-off-electrics-at-paris-show
60% of Americans don't really know what an autonomous car is:
https://www.cnet.com/roadshow/news/kelley-blue-book-60-percent-of-americans-dont-really-know-what-an-autonomous-car-is/
No Man's Sky is being investigated by the Advertising Standards Authority:
http://www.pcgamer.com/no-mans-sky-is-being-investigated-by-the-advertising-standards-authority/
Our home arm in the Milky Way may be bigger than what scientists thought:
http://www.techtimes.com/articles/179977/20160928/our-home-arm-in-the-milky-way-may-be-bigger-than-what-scientists-thought.htm
Is the SpaceX Mars plan feasible?
http://www.space.com/34235-spacex-mars-plans-feasible-or-fantasy.html
Coins from Roman empire found in ruins of Japanese castle:
http://www.npr.org/sections/thetwo-way/2016/09/28/495821834/coins-from-the-roman-empire-are-found-in-ruins-of-japanese-castle
Reykjavik briefly swaps city lights for northern ones:
http://www.nytimes.com/2016/09/30/world/europe/iceland-northern-lights-aurora.html
3D printing bone:
http://www.latimes.com/science/sciencenow/la-sci-sn-3d-printed-bone-grafts-20160928-snap-story.html
A new device approved by the FDA could radically change the lives of diabetics:
http://qz.com/795716/the-fda-has-approved-the-medtronic-minimed-670g-which-brings-type-1-diabetes-patients-closer-to-having-an-artificial-pancreas/
Mystery Zika case in Utah may have been spread via tears or sweat:
https://www.theguardian.com/world/2016/sep/29/mystery-zika-virus-utah-may-spread-through-sweat-tears
Walking fends off loss of mobility - it's not too late to start:
http://www.npr.org/sections/health-shots/2016/09/26/495477531/walking-fends-off-disability-and-its-not-too-late-to-start
Today's Economic Calendar:
5:00 Fed's Harker speech
8:30 GDP Q2
8:30 Corporate Profits
8:30 Initial Jobless Claims
8:30 International trade in goods
8:50 Fed's Lockhart speech
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:00 Fed's Powell speech
10:30 EIA Natural Gas Inventory
2:30 PM Fed's Kashkari speech
3:00 PM Farm Prices
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
5:10 PM Janet Yellen speech
Notable earnings this afternoon after the bell: *COST*, AEHR, CAMP
And tomorrow before the open: *MKC*