The Dow Market Happenings For Thursday, January 23, 2014

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

The Market

Premarket, the Dow was indicated to open down -61 points.

Wednesday, the Dow closed down -41.10 (-0.25%) at 16,373.34.

Year-to-date the Dow is down -1.23%.

McDonald’s Corp. (MCD) reported earnings of $1.4 billion, or $1.40 per share, which is a penny more than Wall Street expected. A year ago, it earned $1.39 billion, or $1.38 per share. Revenue rose to $7.09 billion, shy of the $7.1 billion analysts expected. McDonald’s plans to open between 1,500 and 1,600 new restaurants in 2014, and remodel 1,000 existing locations. It currently has more than 34,000 locations worldwide.

IBM (IBM) shares are up in premarket trading after it announced that Lenovo Group Ltd. will buy its server business for $2.3 billion.

Microsoft (MSFT) was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank who also raised their price target on the stock to $40 from $32.

European stocks are mixed and Asian stocks ended lower.

The national average price of gasoline is up four-tenths of a cent to $3.287 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) reported earnings of $1.40/share on 1/223/14 before the market open, beating consensus by a penny.

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 Wednesday include:

eBay Inc. (EBAY) reported fourth quarter EPS of $0.81 on revenue of $4.50 billion, compared to last year’s EPS of $0.55 on revenue of $3.40 billion.

Netflix, Inc. (NFLX) reported fourth quarter EPS of $0.79 on revenue of $1.18 billion, compared to last year’s EPS of $0.13 on revenue of $945.24 million.

United Technologies Corporation (UTX) reported fourth quarter EPS of $1.58 on revenue of $16.76 billion, compared to last year’s EPS of $1.04 on revenue of $16.44 billion.

Western Digital Corporation (WDC) reported second quarter EPS of $2.19 on revenue of $3.97 billion, compared to last year’s EPS of $2.09 on revenue of $3.82 billion

Other stocks expected to report earnings today include:

McDonald’s Corporation (MCD) is expected to report fourth quarter EPS of $1.39 on revenue of $7.11 billion, compared to last year’s EPS of $1.38 on revenue of $6.95 billion.

Microsoft Corporation (MSFT) is expected to report second quarter EPS of $0.68 on revenue of $23.68 billion, compared to last year’s EPS of $0.76 on revenue of $21.46 billion.

Lockheed Martin Corporation (LMT) is expected to report fourth quarter EPS of $1.99 on revenue of $11.34 billion, compared to last year’s EPS of $1.91 on revenue of $12.10 billion.

Southwest Airlines Company (NYSE: LUV) is expected to report fourth quarter EPS of $0.29 on revenue of $4.39 billion, compared to last year’s EPS of $0.09 on revenue of $4.17 billion.

Today’s Featured Dow Stock

AT&T Inc. (T)

AT&T Inc. (T) is down -5.18% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +4,000 to 330,000, previous -2,000 to 326,000. Weekly continuing claims expected -100,000 to 2.930 million, previous +174,000 to 3.030 million.

0830 ET Dec Chicago Fed national activity index expected +0.30 to 0.90, Nov 0.60.

0900 ET Nov FHFA house price index expected +0.4% m/m, Oct +0.5% m/m.

1000 ET Dec existing home sales expected +0.6% to 4.93 million, Nov -4.3% to 4.90 million.

1000 ET Dec leading indicators expected +0.2%, Nov +0.8%

1100 ET EIA Weekly Petroleum Status Report.

1100 ET Treasury announces amounts of 2-year T-notes (previous $32 billion) 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Jan 28-30.

1300 ET Treasury auctions $15 billion 10-year TIPS.

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