The Dow Market Happenings For Wednesday, August 07, 2013

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Tuesday the Dow closed down -93.39 (-0.60%) at 15,518.74.

This morning the Dow was indicated to open down -46 points.

Year-to-date the Dow is up +18.43%.

Last night, Disney (DIS) reported Q3 EPS ex-items of $1.03, better than consensus of $1.01.

Bank of America (BAC) shares are down premarket after the bank was sued by the Justice Department over alleged mortgage fraud in a 2008 securitization.

European markets are mixed and Asian markets ended lower.

The national average price of gasoline is down six-tenths of a cent to $3.600 per gallon.

Earnings Reports

Cisco Systems (CSCO) reports earnings on 8/14/2013 after the close.

Wal-Mart Stores Inc. (WMT) reports earnings on 8/15/2013 before the market open.

Earnings reports from Tuesday include:

Disney (DIS) reported second quarter EPS of $1.03 vs. $1.01 expected on revenue of $11.58 billion vs. $11.64 billion expected. Disney also disclosed that it will take a large loss in the fiscal fourth quarter due to the Lone Ranger.

First Solar (FSLR) reported second quarter EPS of $0.39 vs. $0.53 expected on revenue of $519.8 million vs. $721.08 million expected.

CVS (CVS) reported second quarter EPS of $0.97 vs. $0.96 expected on revenue of $31.25 billion vs. $31.14 billion expected.

Archer-Daniels-Midland (DM) reported second quarter EPS of $0.46 vs. $0.44 expected on revenue of $22.54 billion vs. $22.87 billion expected.

21st Century Fox (FOXA) reported fourth quarter EPS of $0.42 vs. $0.34 expected on revenue of $7.21 billion vs. $7.12 billion expected.

Other stocks expected to report earnings today include:

Time Warner (TWX) is expected to report second quarter EPS of $0.76 vs. $0.59 a year ago on revenue of $7.1 billion vs. $6.74 billion a year ago.

Green Mountain Coffee Roasters (GMCR) is expected to report third quarter EPS of $0.77 vs. $0.52 a year ago on revenue of $981.9 million vs. $869.19 million a year ago.

Groupon (GRPN) is expected to report second quarter EPS of $0.02 vs. $0.08 a year ago on revenue of $605.54 million vs. $568.34 million a year ago.

Tesla Motors (TSLA) is expected to report a second quarter loss of $0.17 vs. a loss of $0.89 a year ago on revenue of $393.67 million vs. $26.65 million a year ago.

SolarCity (SCTY) is expected to report a second quarter loss of $0.38 per share on revenue of $27.44 million.

Home Depot Inc. (HD).

Home Depot Inc. (HD) is up +29.43% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -3.7% with purchase sub-index -3.4% and refi sub-index -3.8%.

1030 ET EIA Weekly Petroleum Status Report.

1230 ET Philadelphia Fed President Charles Plosser speaks on the economic outlook at an event in Washington D.C.

1300 ET Treasury auctions $24 billion 10-year T-notes.

1340 ET Cleveland Fed President Sandra Pianalto speaks on monetary policy and the economic outlook at an event in Cleveland.

1500 ET Jun consumer credit expected $15.00 billion, May $19.615 billion.

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