3M and Exxon Mobil Report Earnings: Market Happenings For Thursday, April 25, 2013

Dow stocks at 52 week highs were DIS, JNJ, MRK and WMT. There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -43.16 (-0.29%) at 14,676.30

This morning the Dow was indicated to open up +52 points.

Yesterday, General Electric (GE) finance subsidiary GE Capital decided to nix lending programs for gun purchases in the wake of last year’s Newtown massacre.

Exxon Mobil (XOM) announced that its first-quarter profit was up 1% to $9.5 billion.

European markets are mostly higher and Asian markets ended mostly higher.

The national average price of gasoline is down four-tenths of a cent to $3.512 per gallon.

Earnings Reports

3M (MMM) posted first-quarter profit of $1.13 billion, or $1.61 per share, compared with $1.13 billion, or $1.59 per share, in the year-earlier period. Revenue rose 2 percent to $7.63 billion. Expectations were for $1.65 EPS on revenue of $7.81 billion.

Exxon Mobil Corp (XOM) reported earnings of $9.5 billion in the quarter, or $2.12 per share, on revenue of $108.8 billion. In the year-ago period, Exxon earned $9.45 billion, or $2 per share, on revenue of $124.1 billion. Expectations were for $2.05 per share.

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

DIS reports earnings on 5/7/13 after the close.

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

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

Chevron Corporation (CVX).

Financial Calendar

0830 ET Weekly initial unemployment claims expected -2,000 to 250,000, previous +4,000 to 352,000. Weekly continuing claims expected -8,000 to 3.060 million, previous -35,000 to 3.068 mln.

0830 ET USDA weekly Export Sales.

1100 ET April Kansas City Fed manufacturing activity index expected -1, March -5.

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

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