DD, TRV and UTX Report Earnings: Market Happenings For Tuesday, April 23, 2013

Dow stocks at 52 week highs were DIS, HD, JNJ, KO and PFE.. There are no Dow stock 52 week lows.

The Market

Monday the Dow closed up +19.65 (+0.14%) at 14,567.17.

This morning the Dow was indicated to open up +69 points.

DuPont (DD) reported earnings that beat expectations and raised its dividend.

Travelers (TRV) reported good earnings too.

AT&T (T) reports earnings tonight.

European markets are higher and Asian markets ended lower.

The national average price of gasoline is down three-tenth of a cent to $3.515 per gallon.

Earnings Reports

DuPont (DD) reported net income of $3.35 billion or $3.58 per share for the quarter ended March 31. That’s up from $1.49 billion, or $1.58 per share, a year ago. Revenue increased 2 percent to $10.4 billion, matching expectations. The company had 4 percent volume growth in North America and Latin America. Sales were flat in the Asia-Pacific region and down slightly in Europe, the Middle East and Africa. Overall, global volume was up 2 percent.

The Travelers Companies, Inc. (TRV) reported that earnings increased 15.92% to $2.33 in the quarter versus EPS of $2.01 in the year-earlier quarter. Revenue decreased 12.44% to $5.6 billion from the year-earlier quarter. Expectations were for $2.02 EPS on revenue of $5.61 billion.

United Technologies Corp. (UTX) reported earnings decreased 2.29% to $1.28 in the quarter versus EPS of $1.31 in the year-earlier quarter. Revenue was up 15.9% to $14.4 billion from the year-earlier quarter. Expectations were for earnings of $1.30 on revenue of $14.94 billion.

BA reports earnings on 4/24/13 before the market open.

CVX reports earnings on 4/26/13 before the market open.

MMM reports earnings on 4/25/13 before the market open.

MRK will report earnings on 5/1/13 before the market open.

PFE will report earnings on 4/30/13 before the market open.

PG reports earnings on 4/24/13 before the market open.

T will report earnings on 4/23/13 after the market close.

XOM reports earnings 4/25/13 before the market open.

Proctor & Gamble (PG).

Financial Calendar

0900 ET Feb FHFA house price index expected +0.7%, Jan +0.6% m/m.

1000 ET April Richmond Fed manufacturing index expected -1 to 2, Mar -3 to 3.

1000 ET U.S. March new home sales expected +1.2% to 416,000, Feb -4.6% to 411,000.

1300 ET Treasury auction of $35 billion of 2-year T-notes.

1630 ET API weekly U.S. oil statistics.

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