The Dow Market Happenings For Tuesday, April 29, 2014

Dow stocks at 52 week highs include Johnson & Johnson (JNJ). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +40 points.

Monday, the Dow closed down +87.28 (+0.53%) at 16,448.74.

Year-to-date the Dow is down -0.77%.

The Fed gets together today for another two day meeting.

Merck & Co. (MRK) reported Q1 EPS of 88 cents, stronger than consensus of 79 cents.

Company executives who confirmed that Pfizer, Inc. was attempting to take over AstraZeneca have said that the $100 billion takeover deal would save Pfizer around $1 billion in taxes each year. If the deal is followed through, Pfizer could move its headquarters overseas which would allow it some tax breaks.

European stocks were higher and Asian stocks ended mixed.

The national average price of gasoline is down three-tenths of a cent at $3.693 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.

Exxon Mobil (XOM) will report earnings on 5/1/14 before the market open.

Chevron (CVX) will report earnings on 5/2/14 before the market open.

Pfizer (PFE) will report earnings on 5/5/14 before the market open.

Walt Disney (DIS) will report earnings on 5/6/14 after the market close.

Notable earnings reports from Monday include:

Ecolab Inc. (ECL) reported first quarter EPS of $0.74 on revenue of $3.34 billion, compared to last year’s EPS of $0.60 on revenue of $2.87 billion.

Hartford Financial Services Group, Inc. (HIG) reported first quarter EPS of $1.18, compared to last year’s EPS of $0.92 on revenue of $9.18 billion.

Herbalife LTD (HLF) reported first quarter EPS of $1.50 on revenue of $1.26 billion, compared to last year’s EPS of $1.27 on revenue of $1.12 billion.

National-Oilwell, Inc. (NOV) reported first quarter EPS of $1.40 on revenue of $5.78 billion, compared to last year’s EPS of $1.29 on revenue of $5.31 billion.

Stocks reporting earnings today include:

Express Scripts Holding Company ESRX) is expected to report first quarter EPS of $1.01 on revenue of $23.81 billion, compared to last year’s EPS of $0.99 on revenue of $26.06 billion.

Merck & Company, Inc. (MRK) is expected to report first quarter EPS of $0.79 on revenue of $10.44 billion, compared to last year’s EPS of $0.85 on revenue of $10.67 billion.

Nokia Corporation (NOK) is expected to report first quarter EPS of $0.04 on revenue of $4.01 billion, compared to last year’s loss of $0.03 on revenue of $7.72 billion.

Valero Energy Corporation (VLO) is expected to report first quarter EPS of $1.41 on revenue of $32.24 billion, compared to last year’s EPS of $1.18 on revenue of $33.47 billion.

Today’s Featured Dow Stock

Caterpillar Inc. (CAT)

Caterpillar Inc. (CAT) is up +14.81% year-to-date.

Financial Calendar

0900 ET Feb S&P/CaseShiller composite-20 home price index expected +0.80% m/m and +13.00% y/y, Jan +0.85% m/m and +13.24% y/y.

1000 ET Apr consumer confidence (Conference Board) expected +1.0 to 83.3, Mar +4.0 to 82.3.

1300 ET Treasury auctions $15 billion 2-year floating-rate notes.

n/a FOMC begins 2-day policy meeting.

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