The Dow Market Happenings For Monday, September 29, 2014

Dow stocks at 52 week highs include Nike (NKE). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -144 points.

Friday, the Dow closed up +167.35 (+0.99%) at 17,113.15.

Year-to-date the Dow is up +3.24%. Nasdaq is up +8.0%, S&P 500 +7.3% and Russell 2000 -3.8%.

Last week the Dow was down -1.0%, Nasdaq -1.5%, S&P 500 -1.4% and Russell 2000 -2.4%.

There were 27 Dow stock winners Friday.

Dow stock losers Friday included Pfizer (PFE) -0.87% and Merck (MRK) -0.42%.

Dow stock winners Friday included Nike (NKE) +12.23% and Cisco (CSCO) +1.87%.

Pro-democracy protests in Hong Kong have investors nervous, pushing the Hang Seng index down by nearly 2%. The index is now at its lowest point since July.

The protesters, who are facing a forceful crackdown by police, are calling for free and open elections in the Chinese territory. Beijing wants to screen candidates for the city’s top office. Some protesters said they also want to draw attention to rising inequality in one of the world’s most expensive cities.

Lenovo Group Ltd has given October 1 as the date it will close its acquisition of the International Business Machines Corp (IBM) x86 server division. The deal, valued at $2.1 billion, will likely give Lenovo a leg up in the market and help the company continue to diversify as the personal computer market wanes.

Nike (NKE) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse.

European stocks are lower and Asian markets ended mostly mixed.

The national average price of gasoline is down one-tenth of a cent at $3.344 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/25/14 after the market close of $1.09/share, beating consensus of $0.88/share.

Notable earnings reports from Friday include:

BlackBerry Ltd (BBRY) reported a second quarter loss of $0.02 on revenue of $916.00 million, compared to last year’s loss of $0.47 on revenue of $1.57 billion.

Finish Line Inc (FINL) reported second quarter EPS of $0.54 on revenue of $466.90 million, compared to last year’s EPS of $0.54 on revenue of $436.03 million.

Stocks reporting earnings today include:

SYNNEX Corporation (SNX) is expected to report third quarter EPS of $1.48 on revenue of $3.40 billion, compared to last year’s EPS of $1.24 on revenue of $2.73 billion.

Cintas Corporation (CTAS) is expected to report first quarter EPS of $0.75 on revenue of $1.10 billion, compared to last year’s EPS of $0.63 on revenue of $1.12 billion.

Today’s Featured Dow Stock

Intel Corp. (INTC)

Intel Corp. (INTC) is up +32.00% year-to-date.

Financial Calendar

0830 ET Aug personal spending expected +0.4%, Jul -0.1%. Aug personal income expected +0.3%, Jul +0.2%. Aug PCE deflator expected -0.1% m/m and +1.4% y/y, Jul +0.1% m/m and +1.6% y/y. Aug core PCE deflator expected unch m/m and +1.4% y/y, Jul +0.1% m/m and +1.5% y/y.

0900 ET Chicago Fed President Charles Evans speaks to the NABE on current economic conditions and monetary policy.

1000 ET Aug pending home sales expected -0.5% m/m and -1.4% y/y, Jul +3.3% m/m and -2.7% y/y.

1030 ET Sep Dallas Fed manufacturing activity expected +3.4 to 10.5, Aug -5.6 to 7.1.

1100 ET USDA weekly grain export inspections.

1600 ET USDA weekly crop progress.

You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.