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Two Ways To Play: Apple-cations Up iPhone Ante


Strengthen your portfolio in good times and bad.

Boeing Reaffirms Forecast

Bloomberg reports Boeing (BA) said it expects second-quarter results will include a charge of approximately 22 cents a share for previously announced delays on its Airborne Early Warning & Control (AEWC) program. It amounts to a charge of $250 mln due to development issues on electronic warfare and ground support systems which need more time for testing, the company said. The first two of Australia's six aircraft with these advanced features are set to be delivered in July of next year, four months later than originally planned.

Boeing, however, reaffirms its 2008 forecasts of profits in the range of $5.70 to $5.85 per share. See Professor Jeff Macke's thoughts in Boeing Back to the Drawing Board.

From the Bull Pen: Bulls might see a better play in Lockheed Martin (LMT); sell-stops can be set below $100.

From the Bear Cave: Those that remain bearish may fade (read:sell) Boeing on rallies into the $70-$75 range.

Ambitious Apple

The Wall Street Journal reports, in addition to its new iPhone set to go on sale Friday, Apple (AAPL) is timing the new release of its online bazaar. The company is calling on software developers to create mobile applications with the intention of refashioning mobile phones to resemble something closer to personal computers. The store will be an icon on the home screen of the iPhone and will have some 500 applications from companies like Facebook, eBay, and Bloomberg. Most of the applications will cost less than $10 with many being free. The See Professor Depew's thoughts in yesterday's DepewTube.

From the Bull Pen: Professor Sean Udall mentioned a better play in Marvel (MRVL) yesterday. Bulls can play the upside should the stock approach support between $14-15.

From the Bear Cave: Can Apple's innovations overcome the challenges the consumers are facing? Will the "hidden" costs irk customers? Bears see resistance between $180 and $190 and may choose to fade (read:sell) the stock into those levels.

For more ideas in real time throughout the trading day, check out Minyanville's Buzz & Banter.

Quick Check Around the World

Asian trading closed with the Hang Seng +0.07%, Nikkei +0.12%, Sensex -0.27%, Taiwan +0.39% and Shanghai -1.54%.

A quick glance across the pond has the CAC -1.43%, DAX -0.41%, FTSE -1.22%

As of 8:30 AM EST, S&P futures are up 7 points to 1255, and Nasdaq futures are higher 8 points to 1839.

A Look At Commodities

Commodities are higher. Crude oil is trading +0.27 to 136.35. Gold is up +0.80 to 929.30. Silver is up +0.125 to 18.225, and copper is lower -1.30 to 374.20.

The dollar index is up +0.234 to 72.812.

On the Radar


8:30 Initial Jobless Claims
8:30 Continuing Claims
13:30 ICSC Chain Store Sales: 3.0% prior

Click here for the full trading radar.

Have a great day!
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