Market Happenings For Thursday, July 25, 2013

Dow stocks at 52 week highs include Boeing (BA), JPMorgan (JPM) and UnitedHealth (UNH) There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -25.50 (-0.16%) at 15,542.24.

This morning the Dow was indicated to open down -78 points.

Year-to-date the Dow is up +18.61%.

This morning, 3M (MMM) reported second quarter earnings of $1.2 billion, or $1.71 per share, with revenue climbing nearly 3% to $7.75 billion. Earnings topped analyst estimates by a penny, but came up short on sales.

European markets are lower and Asian markets ended lower.

The national average price of gasoline is down five-tenths of a a cent to $3.655 per gallon.

Earnings Reports

3M (MMM) reports earnings on 7/25/2013 before the market open.

Merck (MRK) reports earnings on 7/30/2013 before the market open.

Pfizer (PFE) reports earnings on 7/30/2013before the market open.

Merck (MRK) will report earnings on 7/30/2013 before the market open.

Exxon Mobil (XOM) will report earnings on 8/1/2013 before the market open.

Proctor & Gamble (PG) will report earnings on 8/1/2013 before the market open.

Earnings reports from Wednesday include:

Boeing (BA) reported second quarter EPS of $1.67 vs. $1.58 expected on revenue of $21.8 billion vs. $20.78 billion expected.

Ford (F) reported second quarter EPS of $0.45 vs. $0.37 expected on revenue of $38.1 billion.

PepsiCo (PEP) reported second quarter EPS of $1.31 vs. $1.19 expected on revenue of $16.81 billion vs. $16.79 billion expected.

Delta Airlines (DAL) reported second quarter EPS of $0.98 vs. $0.95 expected on revenue of $9.71 billion vs. $9.74 billion expected.

Facebook (FB) reported second quarter EPS of $0.19 vs. $0.14 expected on revenue of $1.81 billion vs. $1.61 billion expected.

Eli Lilly (LY) reported second quarter EPS of $1.16 vs. $1.01 expected on revenue of $5.92 billion vs. $5.82 billion expected.

Qualcomm (QCOM) reported third quarter EPS of $1.03, in line, on revenue of $6.24 billion vs. $6.05 billion expected.

Visa (V) reported third quarter EPS of $1.88 vs. $1.79 expected on revenue of $3.00 billion vs. $2.89 billion expected.

Other stocks expected to report earnings today include:

3M (MMM) is expected to report second quarter EPS of $1.71 vs. $1.66 a year ago on revenue of $7.77 billion vs. $7.53 billion a year ago.

Amazon (AMZN) is expected to report second quarter EPS of $0.06 vs. $0.01 a year ago on revenue of $15.74 billion vs. $12.83 billion a year ago.

Bristol-Myers Squibb (BMY) is expected to report second quarter EPS of $0.44 vs. $0.48 a year ago on revenue of $4.05 billion vs. $4.44 billion a year ago.

General Motors (GM) is expected to report second quarter EPS of $0.75 vs. $0.90 a year ago on revenue of $38.37 billion vs. $37.6 billion a year ago.

Biogen Idec (BIIB) is expected to report second quarter EPS of $1.93 vs. $1.82 a year ago on revenue of $1.62 billion vs. $1.42 billion a year ago.

Dow Chemical (DOW) is expected to report second quarter EPS of $0.63 vs. $0.55 a year ago on revenue of $14.48 billion vs. $14.51 billion a year ago.

Starbucks (SBUX) is expected to report second quarter EPS of $0.53 vs. $0.43 a year ago on revenue of $3.72 billion vs. $3.3 billion a year ago.

Boston Scientific (BSX) is expected to report second quarter EPS of $0.09 vs. $0.11 a year ago on revenue of $1.78 billion vs. $1.83 billion a year ago.

Celgene (CELG) is expected to report second quarter EPS of $1.44 vs. $1.22 a year ago on revenue of $1.54 billion vs. $1.37 billion a year ago.

Cliffs Natural Resources (CLF) is expected to report second quarter EPS of $0.62 vs. $1.63 a year ago on revenue of $1.42 billion vs. $1.63 billion a year ago.

Microsoft (MSFT).

Microsoft (MSFT) is up +19.66% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +6,000 to 340,000, previous -24,000 to 334,000. Weekly continuing claims expected -57,000 to 3.057 million, previous +91,000 to 3.114 million.

0830 ET Jun durable goods orders expected +1.4% and +0.5% ex transportation, May +3.7% and +0.5% ex transportation.

0830 ET USDA weekly Export Sales.

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

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