Pfizer Reports Earnings: Market Happenings For Tuesday, April 30, 2013

Dow stocks at 52 week highs include DD, DIS, JNJ and VZ. There are no Dow stock 52 week lows.

The Market

Monday the Dow closed up +106.20 (+0.72%) at 14,818.75.

This morning the Dow is indicated to open down -6 points.

Pfizer Q1 profit was up but the company lowered its 2013 profit forecast by 6 cents to $2.14 to $2.24 per share.

The S&P/Case-Shiller1 Home Price Indices today showed that average home prices increased 8.6% and 9.3% for the 10- and 20-City Composites in the 12 months ending in February 2013. The 10- and 20-City Composites rose 0.4% and 0.3% from January to February.

The Fed starts it’s two day meeting today.

European markets are mostly lower and Asian markets ended mixed.

The national average price of gasoline is up eight-tenths of a cent to $3.508 per gallon.

Earnings Reports

Pfizer (PFE) reported net income was $2.75 billion, or 38 cents per share, up from $1.79 billion, or 28 cents per share, a year earlier. Excluding one-time items, adjusted income was 54 cents per share, a penny less than the forecast by analysts. Revenue was $13.5 billion, down 9 percent from $14.89 billion a year earlier and below analysts’ expectations of $13.99 billion.

MRK will report earnings on 5/1/13 before the market open.

DIS reports earnings on 5/7/13 after the close.

The Walt Disney Company (DIS).

Financial Calendar

0830 ET Q1 employment cost index expected +0.5%, Q4 +0.5%.

0900 ET Feb S&P/CaseShiller composite-20 home price index expected +0.9% m/m and +9.0% y/y, Jan +1.02% m/m and +8.08% y/y.

0945 ET Apr Chicago purchasing managers index expected +0.1 to 52.5, Mar -4.4 to 52.4.

1000 ET Apr U.S. consumer confidence (Conference Board) expected +0.6 to 60.3, Mar -8.3 to 59.7.

1030 ET FOMC begins 2-day policy meeting.

1630 ET API weekly U.S. oil statistics.

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