Market Happenings For Tuesday, October 15, 2013

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

The Market

Monday the Dow closed up +64.15 (+0.42%) at 15,301.26.

Premarket, the Dow was indicated to open down -15 points.

Year-to-date the Dow is up +16.77%.

Can politicians in Washington manage to hash out a plan to raise the U.S. debt ceiling and end the government shutdown? Maybe.

Coca-Cola (KO) said it earned $2.45 billion, or 54 cents per share, up from $2.31 billion, or 50 cents per share, a year ago. Not including one-time items, earnings per share were 53 cents, right on expectations. Revenue fell 3 percent to $12.03 billion, hurt by structural changes and unfavorable currency exchange rates. Analysts had expected $12.05 billion. Results for the quarter were boosted by a gain related to a bottling transaction in Brazil.

Johnson & Johnson (JNJ) reported today its net income was $2.98 billion, or $1.04 per share, up from $2.97 billion, or $1.05 per share, a year earlier. Excluding one-time charges, it earned $1.36 per share, 4 cents per share better than analysts expected. Revenue totaled $17.58 billion, up 3 percent. Analysts expected $17.43 billion. J&J raised its profit forecast to $5.44 to $5.49 per share. Analysts expect $5.46 per share.

Intel (INTC) reports earnings tonight after the close.

Tomorrow we have earnings from AXP and IBM.

Microsoft (MSFT) was upgraded to “Buy” from “Hold” at Jefferies who also raised their price target on the stock to $42 from $33.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is up four-tenths of a cent to $3.347 per gallon.

Earnings Reports

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.

Caterpillar (CAT) reports earnings on 10/23/13 before the market open.

AT&T (T) reports earnings on 10/23/13 after the market close.

3M (MMM) reports earnings on 10/24/13 before the market open.

Microsoft (MSFT) reports earnings on 10/24/13 after the market close.

Procter & Gamble (PG) reports earnings on 10/25/13 before the market open.

Earnings reports from Monday include:

Stanley Furniture Company (STLY) reported a third quarter loss of $0.17 per share on revenue of $24.00 million, compared to last year’s loss of $0.14 per share on revenue of $23.98 million.

Wintrust Financial Corporation (WTFC) reported third quarter EPS of $0.71 on revenue of $196.40 million, compared to last year’s EPS of $0.66 on revenue of $195.52 million.

Other stocks expected to report earnings today include:

Coca-Cola Company (KO) is expected to report third quarter EPS of $0.54 on revenue of $12.06 billion, compared to last year’s EPS of $0.51 on revenue of $12.34 billion.

Intel Corporation (INTC) is expected to report third quarter EPS of $0.54 on revenue of $13.47 billion, compared to last year’s EPS of $0.58 on revenue of $13.46 billion.

Johnson & Johnson (JNJ) is expected to report third quarter EPS of $1.32 on revenue of $17.42 billion, compared to last year’s EPS of $1.25 on revenue of $17.05 billion.

Citigroup Inc. (C) is expected to report third quarter EPS of $1.06 on revenue of $18.83 billion, compared to last year’s EPS of $1.06 on revenue of $13.95 billion.

Yahoo! Inc. (YHOO) is expected to report third quarter EPS of $0.33 on revenue of $1.09 billion, compared to last year’s EPS of $0.35 per share on revenue of $1.09 billion.

Today’s Featured Dow Stock

Walt Disney Co. (DIS)

Walt Disney Co. (DIS) is up +34.22% year-to-date.

Financial Calendar

0830 ET Oct Empire manufacturing index expected +0.71 to 7.00, Sep -1.95 to 6.29.

1000 ET New York Fed president William Dudley speaks on a panel on Unconventional Monetary Policy and Central Bank Independence at the International Conference: Central Bank Independence, Progress and Challenges.

1100 ET USDA weekly grain export inspections.

1600 ET USDA Crop Progress.

1915 ET Dallas Fed President Richard Fisher speaks on the U.S. Economic Outlook and Monetary Policy at the Money Marketeers of New York University.

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