The Dow Market Happenings For Monday, July 28, 2014

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +7 points.

Friday, the Dow closed down -123.23 (-0.72%) at 16,960.57.

Year-to-date the Dow is up +2.32%. Nasdaq is up +6.5%, S&P 500 +7.0% and Russell 2000 is down -1.6%.

Last week the Dow was down -0.8%, Nasdq+0.4%, S&P 500 0.0% and Russell 2000 -0.6%.

Dow stock winners Friday included Cisco (CSCO) +0.54% and Verizon (VZ) +0.45%.

Dow stock losers Friday included Visa (V) -3.58% and American Express (AXP) -1.31%.

There were 6 Dow stock winners Friday.

McDonald’s (MCD) continues to be embroiled in a rotten meat scandal in China, with shares dropping 3.3% last week after a longtime McDonald’s meat supplier was accused of processing expired meat.

Cisco (CSCO) was downgraded to ‘Sector Perform’ from ‘Outperform’ at Pacific Crest.

Pfizer (PFE) was downgraded to ‘Market Perform’ from ‘Outperform’ at BMO Capital.

The Fed meets this week and Friday we get the Jobs Report.

Chinese data out on Monday showed that the nation’s economy may be on the upswing, as the National Bureau of Statistics reported that industrial Chinese firms’ June profits were up 17.9 percent annually and 8.9 percent since May.

European stocks are mixed and Asian markets ended higher.

The national average price of gasoline is down 2.7 cents over the weekend at $3.523 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.

Goldman Sachs (GS) reported earnings on 7/15/14 before the market open of $4.10/share, beating consensus of $3.07/share.

Intel (INTC) reported earnings on 7/15/14 after the market close of $0.55/share, beating consensus of $0.52/share.

Johnson & Johnson (JNJ) reported earnings on 7/15/14 before the market open of $1.66/share, beating consensus of $1.54/share.

JPMorgan (JPM) reported earnings on 7/15/14 before the market open of $1.48/share, beating consensus og $1.30/share.

United Technologies (UTX) reported earnings on 7/17/14 before the market open of $1.84/share, beating consensus of $1.79/share.

IBM (IBM) reported earnings on 7/17/14 after the market close of $4.32/share, beating consensus of $4.31/share.

General Electric (GE) reported earnings on 7/18/14 before the market open of $0.39/share, meeting expectations.

Dupont (DD) reported earnings on 7/22/14 before the market open of $1.17/share, meeting expectations.

Coca Cola (KO) reported earnings on 7/22/14 before the market open of $0.64/share, beating consensus of $0.63/share.

McDonald’s (MCD) will report earnings on 7/22/14 before the market open.

Microsoft (MSFT) will report earnings on 7/22/14 after the market close.

Travelers (TRV) will report earnings on 7/22/14 before the market open.

United Technologies (UTX) will report earnings on 7/22/14 before the market open.

Verizon (VZ) will report earnings on 7/22/14 before the market open.


Boeing (BA) will report earnings on 7/23/14
before the market open.


AT&T (T) will report earnings on 7/23/14
after the market close.

Caterpillar (CAT) will report earnings on 7/24/14 before the market open.

3M (MMM) will report earnings on 7/24/14 before the market open.

Visa (V) will report earnings on 7/24/14 after the market close.

Merck (MRK) will report earnings om 7/29/14 before the market open.


Pfizer (PFE) will report earnings on 7/29/14
before the market open

American Express (AXP) will report earnings on 7/29/14 after the market close.

Exxon Mobil (XOM) will report earnings on 7/31/14 before the market open.

Chevron (CVX) will report earnings on 8/1/14 before the market open.

Procter & Gamble (PG) will report earnings on 8/1/14 before the market open.

Notable earnings reports from Friday include:

Covidien (COV) reported third quarter EPS of $1.04, compared to last year’s EPS of $0.91 on revenue of $2.58 billion.

Stanley Black & Decker (SWK) reported second quarter EPS of $1.43, compared to last year’s EPS of $1.21 on revenue of $2.87 billion.

Tyco International (TYC) reported third quarter EPS of $0.54, compared to last year’s EPS of $0.50 on revenue of $2.68 billion.

Xerox (XRX) reported second quarter EPS of $0.27, compared to last year’s EPS of $0.27 on revenue of $5.40 billion.

Stocks reporting earnings today include:

Cummins (CMI) is expected to report EPS of $2.39, compared to last year’s EPS of $2.20.

Herbalife Ltd. (HLF) is expected to report EPS of $1.57, compared to last year’s EPS of $1.41.

Tyson Foods (TSN) is expected to report EPS of $0.83, compared to last year’s EPS of $0.69.

XL Group (XL) is expected to report EPS of $0.83, compared to last year’s EPS of $0.75.

Today’s Featured Dow Stock

3M Co. (MMM)

3M Co. (MMM) is up +3.47% year-to-date.

Financial Calendar

0945 ET Jul Markit services PMI expected -0.2 to 59.8, Jun +2.9 to 61.0.
1000 ET Jun pending home sales expected +0.5% m/m and -5.2% y/y, May +6.1% m/m and -6.9% y/y.
1030 ET Jul Dallas Fed manufacturing activity expected +0.6 to 12.0, Jun +3.4 to 11.4.
1100 ET USDA weekly grain export inspections.
1300 ET Treasury auctions $29 billion of 2-year T-notes.
1600 ET USDA weekly crop progress.

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