AXP and UNH Report Earnings: Market Happenings For Thursday, April 18, 2013

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Yesterday the Dow closed down -138.19 (-0.94%) at 14,618.59.

This morning the Dow was indicated to open up +35 points and is currently down -75

American Express (AXP) reported earnings last night..

Verizon (VZ) today beat earnings forecasts but missed on revenue.

On a personal note, yesterday I sold all my holdings and am at 100% cash. Will get back in when a rising trend looks likely.

European markets are up and Asian markets ended mostly lower.

The national average price of gasoline is down seven-tenths of a cent to $3.512 per gallon.

Earnings Reports

Last night American Express (AXP) reported Q1 EPS of $1.15, better than consensus of $1.12, although it reported Q1 revenue of $7.9 billion, weaker than consensus of $8.05 billion.

UnitedHealth (UNH) reported earnings of $1.19 billion, or $1.16 per share. That figure doesn’t count a portion of earnings that went to shareholders of Amil Participacoes SA, a Brazilian health benefits and care provider that UnitedHealth is in the process of buying for about $4.9 billion. Earnings are down from $1.39 billion, or $1.31 per share, a year ago. Revenue rose 11 percent to $30.34 billion in the three months that ended March 31. Analysts expected earnings of $1.14 per share on $30.54 billion in revenue.

Verizon Communications Inc. on Thursday reported net income of $1.95 billion, or 68 cents per share for the January to March period. That was up from $1.69 billion, or 59 cents per share, a year earlier. Analysts had on average expected earnings of 66 cents per share for the latest quarter. Revenue rose 4 percent to $29.4 billion, just short of the average analyst estimate of $29.5 billion.

After the close we have earnings reports from IBM and MSFT.

AXP will report earnings on 4/17/13 after the market close.

BA reports earnings on 4/24/13 before the market open.

BAC will report earnings on 4/17/13 before the market open.

CAT will report earnings 4/22/13 before the market open.

CVX reports earnings on 4/26/13 before the market open.

DD will report earnings on 4/23/13 before the market open.

GE wil report earnings 4/19/13 before the market open.

IBM will report earnings on 4/18/13 after the market close (not confirmed).

INTC will report earnings on 4/16/13 after the market close.

JNJ will report earnings on 4/16/13 before the market open.

KO will report earnings on 4/16/13 before the market open.

MCD will report 4/19/13 before the market open.

MMM reports earnings on 4/25/13 before the market open.

MSFT will report earnings on 4/18/13 after the market close.

PG reports earnings on 4/24/13 before the market open.

T will report earnings on 4/23/13 after the market close.

TRV will report earnings on 4/23/13 before the market open.

UNH will report earnings on 4/18/13 before the market open.

UTX will report earnings on 4/23/13 before the market open.

VZ will report earnings on 4/18/13 before the market open.

XOM reports earnings 4/25/13 before the market open.

Microsoft (MSFT).

Financial Calendar

n/a G-20 finance ministers and central bank governors begin 2-day meeting in Washington.

0830 ET Weekly initial unemployment claims expected +4,000 to 350,000, previous -42,000 to 346,000. Weekly continuing claims expected -6,000 to 3.073 mln, previous -12,000 to 3.079 mln.

0830 ET USDA weekly Export Sales.

0900 ET Minneapolis Fed President Narayana Kocherlakota delivers speech at Ford Foundation at the Levy InstituteÂ’s 22nd Annual P. Minsky Conference.

0900 ET Treasury announces 2-year, 5-year, and 7-year T-note auctions for April 23-25.

0930 ET Richmond Fed President Jeffrey Lacker will make opening remarks at the Richmond FedÂ’s 2013 Credit Markets Symposium.

1000 ET April Philadelphia Fed manufacturing index expected +1.0 to 3.0, March +14.5 to 2.0.

1000 ET March leading indicators expected +0.1% m/m, Feb +0.5% m/m.

1100 ET Treasury announces amounts of 2-year T-notes (previous $35 billion), 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Apr 23-25.

1200 ET Fed Governor Sarah Bloom Raskin speaks at the Hyman Minsky Conference on the State of the U.S. and World Economies.

1200 ET Department of State meets on Keystone XL pipeline.

1300 ET Treasury sells $18 billion in 5-year TIPS.

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