Market Happenings For Wednesday, June 12, 2013

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

The Market

Tuesday the Dow closed down -116.57 (-0.76%) at 15,122.02.

This morning the Dow was indicated to open up +78 points.

Hewlett-Packard (HPQ) launched an IT system for businesses in cooperation with Google (GOOG).

Year-to-date the Dow is up +15.40%.

European markets are mostly higher and Asian markets ended lower.

The national average price of gasoline is up one-tenth of a cent to $3.634 per gallon.

Earnings Reports

There are no Dow stocks on the horizon set to report earnings.

Earnings reports from Tuesday include:

LDK Solar (LDK) reported a first quarter loss of $1.21 per share vs. an expected loss of $0.96 per share on revenue of $104.3 million vs. $97.2 million expected.

Oxford Industries (OXM) reported first quarter EPS of $0.82 vs. $0.78 expected on revenue of $234.2 million vs. $236.9 million expected. The company also reported mixed guidance for the second quarter and reaffirmed its full year guidance.

Ulta Salon (ULTA) reported first quarter EPS of $0.65 vs. $0.62 expected on revenue of $582.7 million vs. $576.3 million expected. However, guidance for the second quarter was slightly below forecasts.

Other stocks expected to report earnings today include:

Men’s Warehouse (MW) is expected to report first quarter EPS of $0.55 vs. $0.52.

PVH Corp. (PVH) is expected to report first quarter EPS of $1.35 vs. $1.30 a year ago.

Hewlett-Packard (HPQ).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -11.5% with purchase sub-index -1.6% and refi sub-index 15.0%.

1030 ET EIA Weekly Petroleum Status Report.

1200 ET June WASDE crop production report.

1300 ET Treasury auctions $21 billion 10-year T-notes.

1400 ET May budget statement expected -$136.5 billion, Apr +$112.889 billion.

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