Market Happenings For Tuesday, July 23, 2013

Dow stocks at 52 week highs include Bank of America (BAC), Dupont (DDD), Johnson & Johnson (JNJ), JPMorgan (JPM), 3M (MMM) and United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Monday the Dow closed up +1.81 (.0.01%) at 15,545.55.

This morning the Dow was indicated to open up +52 points.

Year-to-date the Dow is up +18.63%.

Travelers (TRV) reported a rise in quarterly profit , citing “lower catastrophe losses.”

DuPont (DD) reported earnings that were above forecasts but revenue fell short, which the company blamed on slipping chemical sales and economic headwinds in Europe and Asia.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is down five-tenth ofa a cent to $3.666 per gallon.

Earnings Reports

Dupont (DD) reports earnings on 7/23/2013 before the market open.

AT&T (T) reports earnings on 7/23/2013 after the market close.

The Travelers Company (TRV) reports earnings on 7/23/2013 before the market open.

United Technologies (UTX) reports earnings on 7/23/2013 before the market open.

Boeing (BA) reports earnings on 7/24/2013 before the market open.

Caterpillar (CAT) reports earnings on 7/24/2013 before the market open.

3M (MMM) reports earnings on 7/25/2013 before the market open.

Merck (MRK) reports earnings on 7/30/2013 before the market open.

Pfizer (PFE) reports earnings on 7/30/2013before the market open.

Merck (MRK) will report earnings on 7/30/2013 before the market open.

Proctor & Gamble (PG) will report earnings on 8/1/2013 before the market open.

Earnings reports from Tuesday include:

Halliburton (HAL) reported second quarter EPS of $0.73 vs. $0.72 expected on revenue of $7.3 billion vs. $7.25 billion.

McDonald’s (MCD) reported second quarter EPS of $1.38 vs. $1.40 expected on revenue of $7.08 billion vs. $7.1 billion expected.

Kimberly-Clark (KMB) reported second quarter EPS of $1.41 vs. $1.39 a year ago on revenue of $5.27 billion vs. $5.34 billion a year ago.

Gannet (GCI) reported second quarter EPS of $0.58, in line, on revenue of $1.3 billion vs. $1.33 billion a year ago.

Texas Instruments (TXN) reported second quarter EPS of $0.42 vs. $0.41 expected on revenue of $3.05 billion vs. $3.06 billion expected. The company also sees third quarter EPS of $0.49-0.57 vs. the $0.51 estimate on revenue of $3.09-3.35 billion vs. the $3.2 billion estimate.

Canadian National Railway (CNI) reported second quarter EPS of $1.66 vs. $1.62 on revenue of $2.67 billion vs. $2.69 billion expected.

Netflix (NFLX) reported second quarter EPS of $0.49 vs. $0.40 on revenue of $1.07 billion, in line. Netflix sees Q3 EPS $0.30-0.56 but revenue guidance was short of expectations.

Other stocks expected to report earnings today include:

Apple (AAPL) is expected to report third quarter EPS of $7.31 vs. $9.32 a year ago on revenue of $35.09 billion vs. $35.00 billion a year ago.

AT&T (T) is expected to report second quarter EPS of $0.68 vs. $0.66 a year ago on revenue of $31.82 billion vs. $31.6 billion a year ago.

Valero (VLO) is expected to report second quarter EPS of $0.92 vs. $1.50 a year ago on revenue of $30.18 billion vs. $34.66 billion a year ago.

United Technologies (UTX) is expected to report second quarter EPS of $1.58 vs. $1.62 a year ago on revenue of $16.37 billion vs. $13.81 billion a year ago.

Hewlett-Packard Co. (HPQ).

Hewlett-Packard Co. (HPQ) is up +79.02% year-to-date.

Financial Calendar

0900 ET May FHFA house price purchase only index expected +0.8% m/m, Apr +0.7% m/m.

1000 ET July Richmond Fed manufacturing index expected +1 to 9, Jun +10 to 8.

1300 ET Treasury auctions $35 billion 2-year T-notes.

1630 ET API weekly U.S. oil statistics.

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