Oil Surge, Stocks Purge, AAPL Bulls Regurge

Tyler Durden's picture

UPDATE: AA earnings beat, missed, won, lost, with forecasts up and down... facts below!

From the close after the Fed's QEternity announcement, it may surprise some that the Russell 2000, Nasdaq, and Dow Transports are all down 4%. S&P futures have retraced all of last week's gains, dropping the most in over week amid significant volume. AAPL dumped to its 100DMA, bounced, failed to break yesterday's VWAP close, then tumbled back to today's VWAP for another down day. VIX popped the most in 2 weeks (up over 1.2 vols) to end at 16.2%. From the 9/14 peak in stocks, only Healthcare is in the green, with Energy/Tech/Materials down around 5%. Oil jumped higher (up 3% on the week) in the face of USD strength that weighed a little on the rest of the commodity sector.

Post-QEternity - Dow Transports, NASDAQ, and the Russell 2000 are all in sync -4%...

 

 

S&P futures tumbled - taking away all of last week's gain on significant volume once again...

 

and Healthcare remains the only post-QEternity close sector in the green (with Staples very small)... and Tech/Energy/Materials down 4.5 to 5%...

 

USD is up 0.9% this week with major divergence between European currencies relatve to AUD and JPY strength agains the USD...

 

Oil pushed back above $92...

 

AAPL had a down-up-down day - leaving a nice techical tail bounce off the 100DMA which we are sure will be discussed as the bottom-signal... a look at the day in terms of VWAP suggests this was less than a 'recovery day' as the ramp off the lows stalled at yesterday's VWAP and sold off on consaiderably heavy volume intrday...

 

Charts: Bloomberg

 

Bonus Chart: Some annoying factual facts about Alcoa's earnings (as the bots hold it steady after exploding higher...)..

The Press-Release

  • *ALCOA 3Q ADJ. EPS 3C, EST. BREAK-EVEN :AA US
  • *ALCOA 3Q LOSS CONT OPS 13C :AA US
  • *ALCOA LOSS FROM CONT OPS OF $0.13-SHR; INCOME OF $0.03-SHR EXCL


Oops:

  • *ALCOA CUTS 2012 GLOBAL ALUMINUM DEMAND FORECAST TO 6% VS 7%


and the facts:

  • Free Cash Flow: Q3 -$39MM
  • Adjusted EBITDA Q3 $282mm, down 45% from Q2
  • Adjusted EBITDA: Q3 2011: $821 MM; Q2 2012: $ 517 MM; Q3 2013: $282 MM
  • Adjusted EBITDA Margin Changes                  12.8   %      8.7   %       4.8    %