Market Happenings For Tuesday, June 11, 2013

Dow stocks at 52 week highs include Boeing (BA) and American Express (AXP). There are no Dow stock 52 week lows.

The Market

Monday the Dow closed down -9.53 (-0.06%) at 15,238.59.

This morning the Dow was indicated to open down -123 points.

Last week DJIA was up +0.9%, Nasdaq +0.4%, S&P 500 +0.8% and Russell 2000 +0.4%.

Year-to-date DJIA is up +16.4%, Nasdaq +14.9%, S&P 500 +15.2% and Russell 2000 +16.3%.

Shares of aircraft maker Boeing (BA) slipped after the company trimmed its 20-year forecast for wide-body jet demand, even as it raised its forecast for single-aisle jets.

Disney (DIS) was upgraded to “Outperform” from “Neutral” at Macquarie who also rasied their price target on the stock to $75 from $70.

Major Asian markets ended down between 1% to 1.5% after the Bank of Japan left its monetary policy unchanged, disappointing some who had been hoping for further stimulus measures. The yen, which had been losing traction against the U.S. dollar, gained nearly 2%.

Year-to-date the Dow is up +16.29%.

European markets are lower and Asian markets ended lower.

The national average price of gasoline is down two-tenths of a cent to $3.633 per gallon.

Earnings Reports

There are no Dow stocks on the horizon set to report earnings.

Earnings reports from Monday include:

Annie’s (BNNY) reported fourth quarter EPS of $0.29 vs. $0.28 expected on revenue of $52.2 million.

Diamond Foods (DMND) reported third quarter EPS of $0.05 vs. an expected loss per share of $0.17 expected on revenue of $184.9 million vs. $175.8 million expected. The company also restated Q2 earnings and named a new CFO.

Lululemon Athletica (LULU) reported first quarter EPS of $0.32 vs. $0.30 expected on revenue of $345.8 million vs. $341.0 million. The company also announced that Christine Day was stepping down from her CEO position and that the company was to de-list its Canadian listed shares. It’s shares are down this morning.

Navistar (NYSE: NAV) reported a second quarter loss of $4.65 per share vs. an expected loss of $1.20 per share on revenue of $2.53 billion.

Other stocks expected to report earnings today include:

LDK Solar (LDK) is expected to report a first quarter loss of $0.96 per share vs. a loss of $1.46 per share a year ago.

Oxford Industries (OXM) is expected to report first quarter EPS of $0.78 vs. $1.12 a year ago.

AT&T (T).

Financial Calendar

1000 ET Apr wholesale inventories expected +0.2%, Mar +0.4%. Apr wholesale sales, Mar -1.6%.

1300 ET Treasury auctions $32 billion 3-year T-notes.

1630 ET API weekly U.S. oil statistics.

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