DJIA Market Happenings For Thursday, June 26, 2014

Dow stocks at 52 week highs include Intel (INTC) Johnson & Johnson (JNJ), Coca Cola (KO) and Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -10 points.

Wednesday, the Dow closed up +49.38 (+0.29%) at 16,867.51.

Year-to-date the Dow is up +1.75%.

Dow stock winners Wednesday included Nike (NKE) +1.99% and Pfizer (PFE)+1.71%.

Dow stock losers Wednesday included Boeing (BA) -1.62% and General Electric (GE) -0.60%.

Wednesday there were 22 Dow stock winners.

Disney (DIS) was initiated with a ‘Buy’ at Jefferies with a price target of $100.

The Labor Department reported today that jobless claims fell by 2,000 to a one-month low of 312,000 in the week ended June 21. The median forecast of economists called for 310,000 initial claims.

Nike (NKE) will report earnings today after the close.

European stocks were higher and Asian markets ended mostly higher.

The national average price of gasoline is up three-tenths of a cent at $3.684 per gallon.

Earnings Reports.

Nike (NKE) will report earnings on 6/26/14 after the market close.

Notable earnings reports from Wednesday include:

Barnes & Noble (BKS) reported a fourth quarter loss of $0.72 on revenue of $1.32 billion, compared to last year’s loss of $1.80 on revenue of $1.28 billion.

Bed Bath & Beyond (BBBY) reported first quarter EPS of $0.93 on revenue of $2.66 billion, compared to last year’s EPS of $0.93 on revenue of $2.61 billion.

General Mills (GIS) reported fourth quarter EPS of $0.67 on revenue of $4.28 billion, compared to last year’s EPS of $0.53 on revenue of $4.41 billion.

Monsanto Company (MON) reported third quarter EPS of $1.62 on revenue of $4.25 billion, compared to last year’s EPS of $1.66 on revenue of $4.25 billion.

Stocks reporting earnings today include:

Nike (NKE) is expected to report fourth quarter EPS of $0.75 on revenue of $7.34 billion, compared to last year’s EPS of $0.76 on revenue of $6.70 billion.

ConAgra Foods (CAG) is expected to report fourth quarter EPS of $0.62 on revenue of $4.38 billion, compared to last year’s EPS of $0.60 on revenue of $4.59 billion.

Lennar Corporation (LEN) is expected to report second quarter EPS of $0.51 on revenue of $1.68 billion, compared to last year’s EPS of $0.61 on revenue of $1.43 billion.

McCormick & Company (MKC) is expected to report second quarter EPS of $0.62 on revenue of $1.04 billion, compared to last year’s EPS of $0.59 on revenue of $1.00 billion.

Today’s Featured Dow Stock

Goldman Sachs Group Inc. (GS)

Goldman Sachs Group Inc. (GS) is down -5.01% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -2,000 to 310,000, previous -6,000 to 312,000. Weekly continuing claims expected -1,000 to 2.560 million, previous -54,000 to 2.561 million.

0830 ET May personal spending expected +0.4%, Apr -0.1%. May personal income expected +0.4%, Apr +0.3%.

0830 ET May PCE deflator expected +0.3% m/m and +1.8% y/y, Apr +0.2% m/m and +1.6% y/y. May PCE core deflator expected +0.2% m/m and +1.6% y/y, Apr +0.2% m/m and +1.4% y/y.

0830 ET Richmond Fed President Jeffrey Lacker speaks at the Lynchburg Colleges School of Business and Economics on the topic Investing in People as an Economic Growth Strategy.

0830 ET USDA weekly Export Sales.

1100 ET June Kansas City Fed manufacturing index expected unch at 10, May 10.

1300 ET Treasury auctions $29 billion 7-year T-notes.

1305 ET St. Louis Fed President James Bullard speaks on Five Comments on Monetary Policy and Income Equality to the Council on Foreign Relations in New York.

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