Market Happenings for Tuesday, February 07, 2012

Pre-market, futures are down a bit as yet again investors wait on a new Greek bailout package. Personally, I’m sick of hearing about it. Gainers this morning include YUM, S, BK, MHS and DIS while losers include L, TMK, COV, CSC and VMC. Light crude is down -0.58% at 96.35 and gold is down -0.36% at 1,718.70.

The Market

Coca-Cola (KO) reported earnings this morning, earning $1.65 billion, or 72 cents per share, for the period ended Dec. 31. Earnings are down sharply from $5.77 billion, or $2.46 per share, a year earlier. But a year ago, the company had a one-time net gain of $1.74 per share, mainly related to buying its bottler’s North American operations. Revenue increased 5 percent to $11.04 billion. For the year, net income fell 27 percent to $8.57 billion, or $3.69 per share. That compares with $11.81 billion or $5.06 per share last year.

Disney (DIS) reports earnings today after the close.

Cisco (CSCO) reports earnings 2/8/2012 after the market close.

Home Depot (HD) reports earnings on 2/21/2012 before the market open.

Kraft Foods (KFT) reports earnings on 2/21/2012 after the market close.

Wal-Mart (WMT) reports earnings on 2/21/2012 before the market open.

Hewlett Packard (HPQ) reports earnings on 2/22/2012 after the market close.

Earnings Reports

Earnings reports (confirmed releases): KO-Coca-Cola (earnings consensus $0.77), DIS-Walt Disney (0.71), EMR-Emerson Electric (0.51), BDX-Becton Dickinson (1.17), WU-Western Union (0.40), CERN-Cerner (0.53), LIFE-Life Technologies (1.04), PRGO-Perrigo (1.15), HIG-Hartford Financial Services (0.60), MMP-Magellan Midstream Partners LP (0.95), LNC-Lincoln National (1.00), CHD-Church & Dwight (0.51), CBG-CBRE Group (0.43), TDG-Transdigm Group (1.25), PNRA-Panera Bread (1.42).

Financial Calendar

0745 ET ICSC (Int’l Council of Shopping Centers) weekly retailer sales.

0855 ET Redbook weekly retailer sales.

1000 ET Fed Chairman Ben Bernanke testifies to the Senate Budget Committee on the economic outlook and the Federal budget situation.

1000 ET Feb IBD/TIPP economic optimism expected +1.1 to 48.6, Jan +4.7 to 47.5.

1130 ET Weekly 4-week and monthly 1-year T-bill auctions.

1300 ET Treasury auctions $32 billion 3-year T-notes.

1500 ET Dec consumer credit expected +$7.000 billion, Nov +$20.364 billion.

The Coca Cola Company

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