Boeing & Caterpillar Beat: Market Happenings for Wednesday, July 25, 2012

Premarket, futures are mixed as Apple earnings tugs Nasdaq lower, however the Dow looks set to open higher. Gainers this morning include ALTR (+9.91%), SYMC, ALXN, JNPR and BRCM while losers include NFLX (-17.61%), TRIP, IGT, WLP and AAPL.

The Market

Boeing (BA) posts Q2 EPS of $1.27 per share, beating estimates of $1.12. Revenue came in at $20.0 billion, above the $19.37 billion consensus.

Caterpillar (CAT) second quarter earnings rise 67% and company raises its full-year estimate. CAT reported a profit of $1.7 billion or $2.54 per share, up from $1.02 billion, or $1.52 a share in the year-ago quarter. Estimates were for $2.28 per share.

European stocks were higher in morning trading and Asian markets ended down.

The national average price of gasoline is up eight-tenths of a cent to $3.485 per gallon.

Tomorrow, MMM and XOM report earnings before the open.

Earnings Reports

Earnings reports: PEP-Pepsico (Consensus $1.10), V-Visa (1.45), COP-ConocoPhillips (1.19), BMY-Bristol-Myer-Squibb (0.48), BA-Boeing (1.12), CAT-Caterpillar (2.28), LLY-Eli Lilly (-0.77), SO-Southern (0.68), F-Ford Motor (0.29), LVS-Las Vegas Sands (0.60), PX-Praxair (1.42), ACE-ACE Ltd (1.91), GD-General Dynamics (1.74), WLP-Wellpoint (2.08), EQR-Euity Residential (0.12), ALXN-Alexion Pharm (0.36), TMO-Thermo Fisher (1.16), GLW-Corning (0.31), LO-Lorillard (2.32), CCI-Crown Castle (0.17), NOC-Northrop Grumman (1.61), TROW-T Rowe Price (0.81), WFM-Whole Foods Market (0.61), HES-Hess Corp (1.38), CTXS-Citrix Systems (0.60), AVB-Avalonbay (0.65), TEL-TE Connectivity (0.78), MSI-Motorola Solutions (0.69), HCA-HCA Holdings (0.78), REGN-Regeneron Pharm (0.50), ORLY-O’Reilly Automotive (1.14), CBE-Cooper Industries (1.12), AMP-Ameriprise (1.34).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +16.9%, purchase sub-index -0.1%, refi sub-index +21.6%.

1000 ET June new home sales expected +0.4% to 371,000, May +7.6% to 369,000.

1030 ET DOE Weekly Petroleum Status Report.

1300 ET Treasury sells $35 bln in 5-year T-notes.

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