UnitedHealth Earnings Beats: Market Happenings For Tuesday, October 16, 2012

Premarket, futures are up. Gainers this morning include MUR (+7.97%), MAT, MPC, FOSL and LYB while losers include GWW (-4.98%), FRX, C, PNC and FAST.

The Market

This morning we have earnings.

UnitedHealth (UNH) reported earnings of $1.50 a share, up from the prior year’s $1.17 a share. I have seen estimates for $1.31 and $1.35 per share, you pick one. Whichever one you like, they beat it.

Johnson & Johnson (JNJ) had earnings of $3.52 billion, or $1.25 a share, from $3.44 billion, or $1.24 a share, in the year-earlier period. Esttimates were for $1.21 per share.

Coca Cola (KO) had earnings of $2.31 billion, or 50 cents a share, up from $2.22 million, or 48 cents, earned in the same period during 2011. Estimates were for $0.51 per share.

After the bell today we get earnings from IBM and INTC.

The September reading of the Consumer Price Index, the government’s key metric for inflation, rose 0.6%. That’s higher than the 0.5% increase that economists polled by Briefing.com had been expecting. Compared to a year earlier, prices have risen 2%. Based on this data, the Social Security Administration announced that Social Security recipients will receive a 1.7% cost-of-living increase in 2013.

An interesting happening this morning, Citigroup (C) announced that CEO Vikram Pandit is stepping down. Michael Corbat, who previously served as Citi’s CEO of Europe, Middle East and Africa, was named as his replacement. The Citigroup COO is also stepping down. Wonder what’s going on there.

Earnings Reports

Earnings reports (estimates): IBM-IBM (Consensus: $3.61), JNJ-Johnson & Johnson (1.21), KO-Coca-Cola (0.51), INTC-Intel (0.52), GS-Goldman Sachs (2.28), UNH-UnitedHealth (1.35), PNC-PNC Financial (1.66), CSX-CSX Corp (0.43), ISRG-Intuitive Surgical (3.49), STT-State Street (0.96), GWW-WW Grainger (2.89), OMC-Omnicom Group (0.72), MAT-Mattel (0.99), FRX-Forest Labs (0.04), LLTC-Linear Tech (0.51), FTNT-Fortinet (0.14), CBSH- Commerce Bankshares (0.77), APOL-Apollo Group (0.49), URI-United Rentals (1.13), CREE-Cree Inc (0.26), DPZ-Domino’s Pizza (0.41), WWW-Wolverine World (0.73),

Financial Calendar

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

0830 ET Sep CPI expected +0.5% and +1.9% y/y, Aug +0.6% m/m and +1.7% y/y. Sep core CPI expected +0.2% and +2.0% y/y, Aug +0.1% m/m and +1.9% y/y.

0855 ET Redbook weekly retailer sales.

0915 ET Sep industrial production expected +0.2% m/m, Aug -1.2% m/m. Sep manufacturing production expected +0.3% m/m, Aug -0.7% m/m. Sep capacity utilization expected +0.1 to 78.3%, Aug 78.2%.

1000 ET Oct NAHB housing market index expected +1 to 41, Sep +3 to 40.

1130 ET Weekly 4-week T-bill auction.

1200 ET Federal Reserve Governor Sarah Bloom Raskin speaks on financial regulation at Suffolk University in Boston.

1200 ET Atlanta Fed President Dennis Lockhart introduces Argentine ambassador before the World Affairs Council of Atlanta at the Commerce Club.

1630 ET API weekly U.S. oil statistics.

2100 ET Obama-Romney debate at Hofstra University in Hempstead, NY. Town hall style meeting including foreign and domestic policy.

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