WEDNESDAY 9/24/14; ACN; KBH; PAYX; CFG; New Home Sales; AAPL iPhone6 BendGate Problem

Asia is mixed. The NIKK is down -0.2% as the dollar/yen remains soft at 108.65. Starbucks Japan jumps +4% on last evenings news that SBUX will buy the remaining 61% interest in the company. Aeon drops -3% on n




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 lows. Dr Copper leads the economy or more correctly used to lead the economy before the last six years of central banker intervention has distorted all asset pricing.

AAPL drops -0.9% from the developing negative news with the iPhone6. A new problem occurs as the IOS 8.0.1 software update is pulled. Customers are losing connectivity when it is installed and are experiencing other glitches. The update was supposed to handle the problem of the health care apps not functioning. AAPL trades down -0.8% as the negativity increases for this admired tech company. Discussions begin on warranty coverage and how Apple may handle the bending phone problem. Apple is in crisis management mode and says an investigation into the problems is ongoing. Placing the iPhone6 drama to one side, the Apple Watch has zero buzz. The watch is received like any other current tech-savvy watch on the market; with lackluster interest.

GPRO surges +8% to 78.46 on plans to offer a new camera. The stock has tripled since its IPO offering and is the most successful IPO of 2014. Trades are tripping over each other chasing GoPro higher willing to buy at any price. The GoPro cameras are expected to be a top seller for the holiday season so traders are riding the hype. GPRO may trade like a retail stock that drifts higher into the holidays but is sold off in December-January after the wrapping paper is placed in the trash can. The CFG IPO finishes at 23.08 versus the 21.50 offering price banking a +7.4% gain for its debut. BABA gains +4% and regains the 90 level to 90.57 on its fourth day of trading.

After the closing bell, JBL jumps +6% after beating on earnings receiving a boost from the iPhone sales. TIBX pops +7% on news a consortium is planning an offer to takeover the software company. Adhesive-maker FUL collapses -9% after reporting weak earnings. In a robust economy with strong manufacturing, FUL should be strong. MTN reports lackluster earnings with operating expenses continuing to climb. Skiing has become a sport for the wealthy that have benefited from the Fed’s easy money policies. The middle class can no longer afford an expensive day or vacation ski trip for the family.