Market Happenings For Thursday, June 20, 2013

Dow stocks at 52 week highs include 3M (MMM), Boeing (BA), UnitedHealth (UNH) and Hewlett-Packard (HPQ). There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -206.04 (-1.35%) at 15,112.19.

This morning the Dow was indicated to open down -123 points. We are currently down -168.

Bernanke said Wednesday the U.S. economy was expanding strongly enough for the Federal Reserve to begin slowing the pace of its bond-buying stimulus later this year.

Walt Disney (DIS) shares were down in premarket trading after Goldman Sachs removed the stock from its “conviction buy” list.

Jobless claims rose more than expected in the latest week.

Friday we have quadruple witching.

Year-to-date the Dow is up +15.32%.

European markets are lower and Asian markets ended lower.

The national average price of gasoline is down five-tenths of a cent to $3.598 per gallon.

Earnings Reports

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

Earnings reports from Wednesday include:

FedEx (FDX) reported fourth quarter EPS of $2.13 vs. $1.97 expected on revenue of $11.4 billion vs. $11.44 billion expected. However, guidance for FY2014 was slightly below forecasts.

Actuant (ATU) reported third quarter EPS of $0.62 vs. $0.66 expected on revenue of $344.21 million. Also, the company announced the divestiture of a business segment.

Finisar (FNSR) reported fourth quarter EPS of $0.20 vs. $0.17 expected on revenue of $243.4 million vs. $242.95 million expected.

Micron Technology (MU) reported third quarter EPS of $0.04 vs. $0.02 expected on revenue of $2.3 billion vs. $2.25 billion expected.

Red Hat (RHT) reported first quarter EPS of $0.32 vs. $0.31 expected on revenue of $363.0 million vs. $359.77 million expected.

Other stocks expected to report earnings today include:

Kroger (NYSE: KR) is expected to report first quarter EPS of $0.88 vs. $0.78 a year ago.

Oracle (NASDAQ: ORCL) is expected to report fourth quarter EPS of $0.87 vs. $0.82 a year ago.

Pier 1 Imports (NYSE: PIR) is expected to report first quarter EPS of $0.19 vs. $0.16 a year ago.

Rite Aid (NYSE: RAD) is expected to report first quarter EPS of $0.09 vs. a loss of $0.03 per share a year ago.

Walt Disney (DIS).

Walt Disney (DIS) is up +26.87% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +6,000 to 340,000, previous -12,000 to 334,000. Weekly continuing claims expected -15,000 to 2.958 million, previous +2,000 to 2.973 million.

0830 ET USDA weekly Export Sales.

1000 ET Jun Philadelphia Fed manufacturing index expected +3.2 to -2.0, May -6.5 to -5.2.

1000 ET May existing home sales expected +0.6% to 5.00 million, Apr +0.6% to 4.97 million.

1000 ET May leading indicators expected +0.2%, Apr +0.6%.

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 Jun 25-27.

1300 ET Treasury auctions $7 billion 30-year TIPS.

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One Response to “Market Happenings For Thursday, June 20, 2013”

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