Market Happenings For Friday, June 28, 2013

Dow stocks at 52 week highs include only UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Thursday the Dow closed up +114.35 (+0.77%) at 15,024.49.

This morning the Dow was indicated to open down -2 points.

Hewlett-Packard (HPQ) was awarded a $321.69 million government contract for the Next Generation Enterprise Network.

Pfizer (PFE) is higher premarket after it announced that it will boost its share repurchase program by $10 billion.

The yield on the 10-year Treasury note hit 2.65% earlier this week, ts highest level since August 2011 and well above the 1.6% in early May.

Gold is down 13% so far this month.

European markets are lower and Asian markets ended higher.

Japan’s Nikkei boomed on positive economic data out of Japan, adding 3.03%. The Shanghai Composite increased 1.50%, the Hang Seng closed 1.78% higher and Korea was up +1.56%.

The national average price of gasoline is down 1.4 cents to $3.514 per gallon.

Earnings Reports

Alcoa (AA) will report earnings on 7/8/2013 after the market close.

UnitedHealth (UNH) will report earnings on 7/11/2013 before the market open (unconfirmed).

Earnings reports from Thursday include:

Accenture PLC (ACN) reported third quarter EPS of $1.14 vs. $1.13 expected on revenue of $7.2 billion vs. $7.42 billion a year ago. However, revenue guidance for the fourth quarter was below forecast.

ConAgra Foods (CAG) reported fourth quarter EPS of $0.60 vs. $0.59 expected on revenue of $4.59 billion vs. $4.61 billion expected.

Commercial Metals (CMC) reported third quarter EPS of $0.16 vs. $0.18 expected on revenue of $1.8 billion vs. $1.93 billion expected.

KB Homes (KBH) reported a second quarter loss of $0.04 per share vs. an expected loss of $0.07 per share on revenue of $524.4 million vs. $450.8 million expected.

Nike (NKE) reported fourth quarter EPS of $0.76 vs. $0.75 expected on revenue of $6.7 billion vs. $6.64 billion expected.

Other stocks expected to report earnings today include:

Blackberry (BBRY) is expected to report first quarter EPS of $0.09 vs. a loss of $0.37 per share a year ago on revenue of $3.377 billion vs. $2.814 billion a year ago.

The Finish Line (FINL) is expected to report first quarter EPS of $0.16 vs. $0.24 a year ago on revenue of $344.22 million vs. $319.05 million a year ago.

The Coca Cola Co. (KO).

The Coca Cola Co. (KO) is up +11.06% year-to-date.

Financial Calendar

0800 ET Fed Governor Jeremy Stein speaks on monetary policy at the Council on Foreign Relations in New York.

0900 ET Jun Milwaukee NAPM index expected 45.20, May 40.67.

0915 ET Richmond Fed President Jeffrey Lacker speaks about the U.S. economic outlook during a panel discussion at the Judicial Conference of the Fourth Circuit in White Sulphur Springs, WV.

0945 ET Jun Chicago PMI expected -3.7 to 55.0, May +9.7 to 58.7.

0955 ET Final-Jun U.S. consumer confidence (University of Michigan) expected +0.3 to 83.0, previous -1.8 to 82.7.

1200 ET USDA Acreage report and Q2 quarterly Grain Stocks report.

1200 ET Cleveland Fed President Sandra Pianalto speaks on Evolving Labor Market Trends and Implications for Monetary Policy and Local Workforce Development to the West Liberty University Economics Club.

1500 ET USDA Quarterly Hogs & Pigs for Q2.

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