DJIA Market Happenings For Wednesday, January 22, 2014

Dow stocks at 52 week highs include United Technologies (UTX) and Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket, the Dow was indicated to open down -31 points.

Tuesday, the Dow closed down -44.12 (-0.27%) at 16,414.44.

Year-to-date the Dow is down -0.98%.

IBM (IBM) shares are down in premarket trading after the company issued a weak first-quarter outlook, despite beating earnings and sales estimates in the fourth quarter. IBM reported Q4 EPS of $6.13, higher than consensus $5.99, and said it sees 2014 EPS at least $18.00, better than consensus of $17.97. However, IBM said revenue declined to $27.7 billion in the 3-months through December amid plunging demand for servers, the seventh consecutive quarter revenue has declined.

United Technologies (UTX) reported Q4 EPS of $1.58, higher than consensus of $1.53.

European stocks are lower and Asian stocks ended higher.

The national average price of gasoline is up four-tenths of a cent to $3.283 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 1/14/14 of $1.40/share before the market open.

Goldman Sachs (GS) reported earnings on 1/16/14 of $4.60/share before the market open beating consensus of $4.18/share.


American Express (AXP) reported earnings
of $1.25/share on 1/16/14 after the market close.

Intel (INTC) reports earnings on 1/15/14 after the market close.

United Health (UNH) reported earnings of $1.41/share on 1/16/14 before the market open.

General Electric will report earnings on 1/17/14 before the market open.

Johnson & Johnson (JNJ) reported earnings of $1.24/share on 1/21/14 before the market open.

Travelers (TRV) reported earnings of $2.68/share on 1/21/14 before the market open beating consensu.

Verizon (VZ) reported earnings of $0.66/share on 1/21/14 before the market open beating consensus.

International Business Machines (IBM) will report earnings on 1/21/14 after the market close.

United Technologies reported earnings of $1.58, higher than consensus of $1.53, on 1/22/14 before the market open.

McDonalds (MCD) will report earnings on 1/223/14 before the market open.

Microsoft (MSFT) will report earnings on 1/23/14 after the market close.

Procter & Gamble (PG) will report earnings on 1/24/14 before the market open.

Caterpillar (CAT) will report earnings on 1/27/14 before the market open.

Dupont (DD) reports earnings on 1/28/14 before the open.

General Electric (GE) reports earnings on 1/28/14 before the open.

Pfizer (PFE) reports earnings on 1/28/14 before the open.

AT&T (T) reports earnings on 1/28/14 after the market close.

Boeing (BA) reports earnings on 1/29/14 before the market open.

Visa (V) reports earnings on 1/30/14 before the market open.

Exxon Mobil (XOM) reports earnings on 1/30/14 before the market open.

Chevron (CVX) reports earnings on 1/31/14 before the market open.

Earnings reports from Tuesday include:

Johnson & Johnson (JNJ) reported fourth quarter EPS of $1.24 on revenue of $18.40 billion, compared to last year’s EPS of $1.19 on revenue of $17.56 billion.

The Travelers Company (TRV) reported fourth quarter EPS of $2.68 on revenue of $6.74 billion, compared to last year’s EPS of $2.22 on revenue of $5.70 billion.

Verizon Communications Inc. (NVZ) reported fourth quarter EPS of $0.66 on revenue of $31.10 billion, compared to last year’s EPS of $0.45 on revenue of $30.04 billion.

Delta Air Lines Inc. (DAL) reported fourth quarter EPS of $0.65 on revenue of $9.08 billion, compared to last year’s EPS of $0.28 on revenue of $8.60 billion.

Halliburton Company (HAL) reported fourth quarter EPS of $0.90 on revenue of $7.64 billion compared to last year’s EPS of $0.63on revenue of $7.29 billion.

Other stocks expected to report earnings today include:

United Technologies Corporation (UTX) is expected to report fourth quarter EPS of $1.52 on revenue of $17.09 billion, compared to last year’s EPS of $1.04 on revenue of $16.44 billion.

eBay Inc. (EBAY) is expected to report fourth quarter EPS of $0.63 on revenue of $3.90 billion, compared to last year’s EPS of $0.55 on revenue of $3.40 billion.

Netflix, Inc. (NFLX) is expected to report fourth quarter EPS of $0.65 on revenue of $1.17 billion, compared to last year’s EPS of $0.13 on revenue of $945.24 million.

Western Digital Corporation (WDC) is expected to report second quarter EPS of $2.07 on revenue of $3.84 billion, compared to last year’s EPS of $2.09 on revenue of $3.82 billion.

Today’s Featured Dow Stock

American Express Co. (AXP)

American Express Co. (AXP) is down -0.15% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +11.9% with purchase sub-index +11.5% and the refi sub-index +11.2%.

1500 ET Dec USDA Cold Storage.

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