Market Happenings For Friday, October 11, 2013

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

The Market

Thursday the Dow closed up +323.09 (+2.18%) at 15,126.07.

Premarket, the Dow was indicated to open up +11 points.

Year-to-date the Dow is up +15.43%.

JPMorgan (JPM) posted a quarterly loss due to costs of legal actions from the government. The bank still managed to top forecasts, excluding charges. Ex-items, JPMorgan Chase (JPM) reported Q3 EPS of $1.42, better than consensus of $1.19.

Johnson & Johnson (JNJ) was upgraded to “Neutral” from “Sell” at Goldman.

Merck (MRK) was downgraded to “Hold” from “Buy” at Jefferies.

European markets are higher and Asian markets ended .

The national average price of gasoline is down six-tenths of a cent to $3.345 per gallon.

Earnings Reports

J P Morgan Chase & Co (JPM) is expected to report EPS of $1.22 on revenue of $24.06 billion, compared to last year’s EPS of $1.40 on revenue of $25.86 billion. Ex-items, JPMorgan Chase (JPM) reported Q3 EPS of $1.42, better than consensus of $1.19.

Coca Cola (KO) will report earnings on 10/15/13 before the market open.

Johnson & Johnson (JNJ) will report earnings on 10/15/13 before the market open.

Intel (INTC) will report earnings on 10/15/13 after the market close.

American Express (AXP) will report earnings on 10/16/13 after the market close.

International Business Machines (IBM) will report earnings on 10/16/13 after the market close.

Goldman Sachs (GS) reports earnings on 10/17/13 before the market open.

UnitedHealth (UNH) reports earnings on 10/17/13 before the open.

Verizon (VZ) reports earnings on 10/17/13 before the market open.

General Electric (GE) reports earnings on 10/18/13 before the market open.

McDonald’s (MCD) reports earnings 10/21/13 before the market open.

Dupont (DD) will report earnings on 10/22/13 before the market open.

The Travelers Company (TRV) will report earnings on 10/22/13 before the market open.

United Technologies (UTX) will report earnings on 10/22/13 before the market open.

Earnings reports from Thursday include:

Micron Technology, Inc. (MU) reported EPS of $0.20 on revenue of $2.80 billion, compared to last year’s loss of $0.24 per share on revenue of $1.96 billion.

Lindsay Corporation (LNN) reported EPS of $0.81 on revenue of $148.40 million, compared to last year’s EPS of $0.68 on revenue of $127.82 million.

Marriot Vacations Worldwide Corporation (VAC) reported EPS of $0.72, compared to last year’s EPS of $0.23 on revenue of $383.00 million.

Safeway Inc. (SWY) is expected to report EPS of $0.10 on revenue of $8.60 billion, compared to last year’s EPS of $0.16 on revenue of $10.05 billion.

Other stocks expected to report earnings today include:

Infosys Limited (INFY) is expected to report EPS of $0.70 on revenue of $2.00 billion, compared to last year’s loss of $0.75 per share on revenue of $1.80 billion.

Webster Financial Corporation (WBS) is expected to report EPS of $0.49 on revenue of $149.73 million, compared to last year’s EPS of $0.48 on revenue of $144.89 million.

Wells Fargo & Company (WFC) is expected to report EPS of $0.97 on revenue of $21.00 billion, compared to last year’s EPS of $0.88 on revenue of $21.21 billion.

Today’s Featured Dow Stock

Visa Inc. (V)

Visa Inc. (V) is up +24.71% year-to-date.

Financial Calendar

0830 ET Sep PPI expected +0.2% m/m and +0.6% y/y, Aug +0.3% m/m and +1.4% y/y (subject to postponement). Sep PPI ex food & energy expected +0.1% m/m and +1.2% y/y, Aug unch m/m and +1.1% y/y.

0830 ET Sep retail sales expected unch m/m and +0.4% m/m ex autos, Aug +0.2% and +0.1% ex autos.(subject to postponement).

0955 ET Preliminary U.S. Oct University of Michigan consumer confidence expected -1.6 to 75.9, Sep -4.6 to 77.5.

1000 ET Aug business inventories expected +0.3%, July +0.4% (subject to postponement).

1100 ET Fed Governor Jerome Powell speaks on a panel on monetary policy at the 2013 Institute of International Finance Annual Membership meeting.

1200 ET Oct WASDE crop production report.

1300 ET Boston Fed President Eric Rosengren speaks on Communicating Monetary Policy at the Zero Bound at the Council on Foreign Relations.

n/a World Bank and IMF annual meeting in Washington, D.C.

Both comments and pings are currently closed.

Comments are closed.


Warning: Invalid argument supplied for foreach() in /home/customer/www/dow-jones-djia.com/public_html/wp-includes/script-loader.php on line 2740