Market Happenings For Tuesday, July 02, 2013

There are no Dow stocks at 52 week highs. For Dow stock 52 week lows we have Alcoa (AA).

The Market

Monday the Dow closed up +65.36 (+0.44%) a 14,974.96.

This morning the Dow was indicated to open down -7 points.

Year-to-date the Dow is up +14.28%.

JPMorgan (JPM) was upgraded to “Strong Buy” from “Outperform” at Raymond James.

European markets are lower and Asian markets ended mixed.

Tokyo’s Nikkei gained 1.8% and has surged by more than 9% since Thursday morning, bouncing back from bear market territory. The index has been helped over the past few days as the yen weakened against the dollar.

The national average price of gasoline is down nine-tenths of a cent to $3.478 per gallon.

Earnings Reports

Alcoa (AA) will report earnings on 7/8/2013 after the market close.

UnitedHealth (UNH) will report earnings on 7/11/2013 before the market open (unconfirmed).

JPMorgan (JPM) will report earnings on 7/12/2013 before the market open.

Earnings reports from Monday include:

A Schulman (SHLM) reported third quarter EPS of $0.50 vs. $0.65 expected on revenue of $548.6 million vs. $576.1 million expected. The company also lowered guidance for the full year and now expects EPS of $1.70-1.80 vs. the consensus forecast of $2.01. Previously, the company had expected EPS of between $2.08-2.13.

Xyratex (XRTX) reported second quarter EPS of $0.11 vs. an expected loss of $0.05 per share on revenue of $216.2 million vs. $203.16 million expected. The company also issued guidance for the third quarter and now expects EPS to be between a loss of $0.04 per share and EPS of $0.20 vs. the consensus forecast of $0.09. Revenue was guided between $195-225 million vs. the consensus forecast of $$223.1 million.

Other stocks expected to report earnings today include:

Acuity Brands (AYI) is expected to report third quarter EPS of $0.88 vs. $0.82 a year ago on revenue of $518.76 million vs. $487.5 million a year ago.

Constellation Brands (STZ) is expected to report first quarter EPS of $0.40 vs. $0.41 a year ago on revenue of $196.52 million vs. $176.62 million expected.

The Greenbrier Company (GBX) is expected to report third quarter EPS of $0.55 vs. $0.61 on revenue of $503.08 million vs. $507.8 million a year ago.

Intel Corp (INTC).

Intel Corp (INTC) is up +15.84% year-to-date.

Financial Calendar

1000 ET May factory orders expected +2.0%, Apr +1.0%.

1230 ET New York Fed President William Dudley speaks on regional and national economic conditions to members of the Business Council of Fairfield County in Stanford, CT.

1630 ET API weekly U.S. oil statistics.

1700 ET Jun total vehicle sales expected 15.50 million, May 15.24 million. Jun domestic vehicle sales expected 12.05 million, May 11.95 million.

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