The Dow Market Happenings For Friday, June 27, 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 -32 points.

Thursday, the Dow closed down -21.38 (-0.13%) at 16,846.13.

Year-to-date the Dow is up +1.63%.

Dow stock winners Thurssday included Boeing (BA) +0.76% and Disney (DIS) +0.66%.

Dow stock losers Thurssday included Wal-Mart (WMT) -0.94% and Procter & Gamble (PG) -0.88%.

Thursday there were 7 Dow stock winners.

Results for the Nike (NKE) March-May quarter topped expectations and shares rose in aftermarket trading Thursday. Net income for the three months ended May 31 rose to $698 million, or 78 cents per share. That compares with net income of $662 million, or 76 cents per share, in the same quarter last year. Analysts expected 75 cents per share. Revenue rose 11 percent, to $7.43 billion from $6.7 billion, and topped Wall Street’s prediction of $7.34 billion. Revenue for the Nike brand increased 13 percent to $7 billion. Revenue rose in all geographic regions except Japan.

Intel (INTC) was upgraded to ‘Market Perform’ from ‘Underperform’ at Bernstein.

European stocks were higher and Asian markets ended mixed.

The national average price of gasoline is unchanged at $3.684 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 6/26/14 after the market close of $0.78/share, beating consensus for $0.76/share.

Notable earnings reports from Thursday include:

Nike (NKE) reported fourth quarter EPS of $0.78 on revenue of $7.43 billion, compared to last year’s EPS of $0.76 on revenue of $6.70 billion.

ConAgra Foods (CAG) reported fourth quarter EPS of $0.55 on revenue of $4.44 billion, compared to last year’s EPS of $0.60 on revenue of $4.59 billion.

Lennar Corporation (LEN) reported second quarter EPS of $0.61 on revenue of $1.80 billion, compared to last year’s EPS of $0.61 on revenue of $1.43 billion.

McCormick & Company (MKC) reported second quarter EPS of $0.64 on revenue of $1.03 billion, compared to last year’s EPS of $0.59 on revenue of $1.00 billion.

Stocks reporting earnings today include:

Commercial Metals Company (CMC) is expected to report third quarter EPS of $0.30 on revenue of $1.84 billion, compared to last year’s EPS of $0.16 on revenue of $1.79 billion.

KB Home (KBH) is expected to report second quarter EPS of $0.20 on revenue of $563.10 million, compared to last year’s loss of $0.04 on revenue of $524.41 million.

The Finish Line (FINL) is expected to report first quarter EPS of $0.21 on revenue of $394.17 million, compared to last year’s EPS of $0.20 on revenue of $351.05 million.

Today’s Featured Dow Stock

Home Depot Inc. (HD)

Home Depot Inc. (HD) is down -1.93% year-to-date.

Financial Calendar

0955 ET Final-June U.S. consumer confidence index (University of Michigan) expected +0.8 to 82.0, early-June -0.7 to 81.2.

1500 ET USDA Q2 Hogs & Pigs Inventory.

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