The Dow Market Happenings For Wednesday, April 23, 2014

Dow stocks at 52 week highs include Caterpillar (CAT), Johnson &Johnson (JNJ), Merck (MRK) and United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -2 points.

Tuesday, the Dow closed up +65.12 (+0.40%) at 16,514.37

Year-to-date the Dow is down -0.38%.

Procter & Gamble (PG) reported Q3 EPS of $1.04, higher than consensus of $1.02.

Boeing (BA) announced that Shandong Airlines commits to order fifty 737s.

Amgen (AMGN) lost nearly 3% in after hours trading after it reported Q1 EPS of $1.87, below consensus of $1.94.

AT&T (T) fell over 2% in premarket trading even after it reported Q1 adjusted EPS of 71 cents, better than consensus of 70 cents.

European stocks were mostly lower and Asian stocks ended mixed.

The national average price of gasoline is up six-tenths of a cent to $3.673 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 4/11/2014 before the market open of $1.28/share below consensus of $1.41/share.

Coca Cola (KO) reported earnings on 4/15/2014 before the market open of $0.44/share, meeting consensus.

Johnson & Johnson (JNJ) reported earnings on 4/15/2014 before the market open of $1.54/share, beating consensus of $1.48/share.

Intel (INTC) reported earnings on 4/15/2014 after the market close $0.38/share beating consensus of $0.37/share.

American Express (AXP) reported earnings on 4/16/2014 after the market close of $1.33/share beating consensus of $1.30/share.

International Business Machines (IBM) reported earnings on 4/16/2014 after the market close of $2.54/share, meeting consensus.

Dupont (DD) reported earnings on 4/17/2014 before the market open of $1.58/share, meeting consensus.

General Electric (GE) reported earnings on 4/17/2014 before the market open of $0.36/share, beating consensus of $0.32/share.

Goldman Sachs reported earnings on 4/17/2014 before the market open of $4.02/share, beating consensus of $3.44/share.

UnitedHealth (UNH) reported earnings on 4/17/2014 before the market open of $1.10/share, narrowly beating consensus of $1.093/share.

McDonalds (MCD) will report earnings on 4/22/14 before the market open.

Travelers (TRV) will report earnings on 4/22/14 before the market open.

United Technologies (UTX) will report earnings on 4/22/14 before the market open.

AT&T (T) will report earnings on 4/22/14 after the market close.

Boeing (BA) will report earnings on 4/23/14 before the market open.

Procter & Gamble (PG) will report earnings on 4/23/14 before the market open.

Caterpillar (CAT) will report earnings on 4/24/14 before the market open.

3M (MMM) will report earnings on 4/24/14 before the market open.

Verizon VZ will report earnings on 4/24/14 before the market open.

Micrososft (MSFT) will report earnings on 4/24/14 after the market close.

Visa (V) will report earnings on 4/24/14 after the market close.

Merck (MRK) will report earnings on 4/29/14 before the market open.

Notable earnings reports from Tuesday include:

Amgen Inc. (AMGN) reported first quarter EPS of $1.87 on revenue of $4.50 billion, compared to last year’s EPS of $1.96 on revenue of $4.24 billion.

AT&T Inc. (T) reported first quarter EPS of $0.71 on revenue of $32.48 billion, compared to last year’s EPS of $0.64 on revenue of $31.36 billion.

McDonald’s Corporation (MCD) reported first quarter EPS of $1.21 on revenue of $6.70 billion, compared to last year’s EPS of $1.26 on revenue of $6.61 billion.

The Travelers Companies, Inc. (TRV) reported first quarter EPS of $2.95 on revenue of $6.71 billion, compared to last year’s EPS of $2.31 on revenue of $5.60 billion.

Stocks reporting earnings today include:

Boeing Company (BA) is expected to report first quarter EPS of $1.58 on revenue of $21.03 billion, compared to last year’s EPS of $1.73 on revenue of $18.89 billion.

Procter & Gamble Company (PG) is expected to report first quarter EPS of $1.02 on revenue of $20.73 billion, compared to last year’s EPS of $0.99 on revenue of $20.60 billion.

Apple Inc. (AAPL) is expected to report first quarter EPS of $10.17 on revenue of $43.55 billion, compared to last year’s EPS of $10.09 on revenue of $43.60 billion.

Facebook, Inc. (FB) is expected to report first quarter EPS of $0.24 on revenue of $2.35 billion, compared to last year’s EPS of $0.12 on revenue of $1.46 billion.

Today’s Featured Dow Stock

3M Co. (MMM)

3M Co. (MMM) is down -0.97% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +4.3% with purchase sub-index +1.3% and refi sub-index +6.9%.

0945 ET Markit Apr manufacturing PMI expected +0.5 to 56.0, Mar 55.5.

1000 ET Mar new home sales expected +2.3% to 450,000, Feb -3.3% to 440,000.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $35 billion 5-year T-notes.

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