The Dow Market Happenings For Thursday, August 08, 2013

Dow stocks at 52 week highs include only Cisco Systems (CSCO). There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -48.07 (-0.31%) at 15,470.67.

This morning the Dow was indicated to open up +61 points.

Year-to-date the Dow is up +18.06%.

The number of Americans filing new claims for jobless benefits rose slightly last week but is still near its lowest level since before the 2007-09 recession. The Labor Department reported initial claims for state unemployment benefits rose by 5,000 last week to 333,000. Economists had expected first-time applications to rise to 336,000 last week.

McDonald’s Corp. (MCD) said that in July global sales rose 0.7 percent at restaurants open at least 13 months. That included a 1.6 percent increase in the U.S., where it said breakfast and staples such as the Big Mac helped lift results. The figure fell 1.9 percent in both Europe and the region encompassing Asia, the Middle East and Africa.

JPMorgan Chase (JPM) disclosed on Wednesday that it faced a criminal and civil investigation into whether it sold shoddy mortgage securities to investors in the run-up to the financial crisis.

European markets are higher and Asian markets ended mostly lower.

The national average price of gasoline is down 1.1 cents to $3.589 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 Wednesday include:

Green Mountain Coffee Roasters (GMCR) reported third quarter EPS of $0.82 vs. $0.77 expected on revenue of $967.1 million vs. $981.9 million.

Groupon (GRPN) reported a second quarter loss of $0.02 vs. an expected profit of $0.02 per share on revenue of $608.7 million vs. $605.54 million expected.

SolarCity (SCTY) reported a second quarter loss of $0.43 per share vs. an expected loss of $0.38 per share on revenue of $46.6 million vs. $27.44 million expected.

Tesla (TSLA) reported second quarter EPS of $0.05 vs. an expected loss of $0.17 per share on revenue of $405.14 million vs. $393.67 million.

Time Warner (TWX) reported second quarter EPS of $0.83 vs. $0.76 expected on revenue of $7.4 billion vs. $7.1 billion expected.

Other stocks expected to report earnings today include:

AMC Networks (AMCX) is expected to report second quarter EPS of $0.79 vs. $0.58 a year ago on revenue of $368.48 million vs. $327.57 million a year ago.

Dendreon (DNDN) is expected to report a second quarter loss of $0.42 per share vs. a loss of $0.65 per share a year ago on revenue of $75.61 million vs. $79.99 million a year ago.

LinnCo (LNCO) is expected to report second quarter EPS of $0.33 on revenue of $592.17 million.

Molycorp (MCP) is expected to report a second quarter loss of $0.23 per share vs. a loss of $0.03 per share a year ago on revenue of $157.56 million vs. $104.58 million a year ago.

Priceline.com (PCLN) is expected to report second quarter EPS of $9.38 vs. $7.35 a year ago on revenue of $1.66 billion vs. $1.33 billion a year ago.

Intel Corp. (INTC).

Intel Corp. (INTC) is up +10.09% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +9,000 to 335,000, previous -19,000 to 326,000. Weekly continuing claims expected +2,000 to 2.953 mln, previous -52,000 to 2.951 mln.

0830 ET USDA weekly Export Sales.

1300 ET Treasury auctions $16 billion 30-year T-bonds.

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