Merck Reports Earnings: Market Happenings For Wednesday, May 01, 2013

Dow stocks at 52 week highs include CVX, DD, MSFT and VZ. There are no Dow stock 52 week lows.

The Market

Tuesday the Dow closed up +21.05 (+0.14%) at 14,839.80.

This morning the Dow is indicated to open down -23 points.

Merck (MRK) reported Q1 EPS of 85 cents, better than consensus of 79 cents.

Payroll processor ADP reported that private-sector jobs added only 119,000 in April, below forecasts.

The Fed weighs in today at about 2:15 EDT..

European markets are mixed and Asian markets ended mixed.

The national average price of gasoline is up 1.4 cents to $3.522 per gallon.

Earnings Reports

Merck & Co. Inc. (MRK) reported earnings decreased -14.14% to $0.85 in the quarter versus EPS of $0.99 in the year-earlier quarter. Revenue was down -9.04% to $10.67 billion from the year-earlier quarter. Estimates were for earnings of $0.79 per share on $11.09 billion in revenue.

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

Alcoa (AA).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +0.2% with purchase sub-index +0.3% and refi sub-index +0.3%.

0815 ET Apr ADP employment change expected +153,000, Mar 158,000.

0900 ET Treasury announces amounts of 3-year T-notes (previous $32 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds ($13 billion) to be auctioned May 7-9 for the quarterly refunding.

1000 ET Mar construction spending expected +0.5%, Feb +1.2%.

1000 ET Apr ISM manufacturing expected -0.3 to 51.0, Mar -2.9 to 51.3. Apr ISM prices paid expected -1.9 to 52.6, Mar 54.5.

1030 ET EIA Weekly Petroleum Status Report.

1400 ET FOMC announces interest rate decision.

1700 ET Apr total vehicle sales expected 15.30 mln, Mar 15.22 mln. Apr domestic vehicle sales expected 12.0 mln units, Mar 12.00 mln.

Both comments and pings are currently closed.

Comments are closed.


Warning: Invalid argument supplied for foreach() in /home/customer/www/dow-jones-djia.com/public_html/wp-includes/script-loader.php on line 2781