Market Happenings For Monday, October 21, 2013

Dow stocks at a new 52 week highs include Boeing (BA), American Express (AXP), 3M Company (MMM), General Electric (GE), Nike (NKE) and Visa (V). Dow stock 52 week lows include only International Business Machines (IBM).

The Market

Friday the Dow closed up +28.00 (+0.18%) at 15,399.65.

Premarket, the Dow was indicated to open up +3 points.

Last week DJIA was up +1.1%, Nasdaq +3.2%, S&P 500 +2.4% and Russell 2000 +2.8%.

Year-to-date the DJIA is up +17.5%, Nasdaq +29.6%, S&P 500 +22.3% and Russell 2000 +31.2%.

This week brings us earnings and economic data.

McDonald’s (MCD) this morning said net income rose to $1.52 billion, or $1.52 per share, for the third quarter ended Sept. 30, from $1.46 billion, or $1.43 per share, a year earlier. Revenue rose 2.4 percent to $7.32 billion. Analysts on average had expected earnings of $1.51 per share on revenue of $7.34 billion. The company warned that global comparable sales for October are expected to be relatively flat. Shares are down -2% premarket.

Tomorrow we have earnings from Dupont (DD), Travelers (TRV) and United Technologies (UTX).

European markets are mixed and Asian markets ended higher.

The national average price of gasoline is down 1.1 cents over the weekend to $3.349 per gallon.

Earnings Reports

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.

Boeing (BA) reports earnings on 10/23/13 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.

Merck (MRK) reports earnings on 10/28/13 before the market open.

Pfizer (PFE) reports earnings on 10/29/13 before the market open.

Visa (V) reports earnings on 10/30/13 after the market close.

Exxon Mobil (XOM) reports earnings on 10/31/13 before the market open.

Earnings reports from Friday include:

General Electric Company (GE) reported third quarter EPS of $0.36 on revenue of $35.7 3 billion, compared to last year’s EPS of $0.36 on revenue of $36.35 billion.

Honeywell International (HON) reported EPS of $1.24 on revenue of $9.65 billion, compared to last year’s EPS of $1.20 on revenue of $9.34 billion.

Ingersol-Rand (IR) reported EPS of $0.57 on revenue of $3.75 billion, compared to last year’s EPS of $1.07 on revenue of $3.59 billion.

Morgan Stanley (MS) reported third quarter EPS of $0.50 on revenue of $8.10 billion, compared to last year’s loss of $0.55 per share on revenue of $5.29 billion.

Schlumberger N.V. (SLB) reported third quarter EPS of $1.29 on revenue of $11.61 billion, compared to last year’s EPS of $1.08 on revenue of $10.61 billion.

Other stocks expected to report earnings today include:

Discover Financial Services (DFS) is expected to report third quarter EPS of $1.19 on revenue of $2.07 billion, compared to last year’s EPS of $1.21.

Gannett Co., Inc. (GCI) is expected to report third quarter EPS of $0.44 on revenue of $1.27 billion, compared to last year’s EPS of $0.56 on revenue of $1.31 billion.

Netflix, Inc. (NFLX) is expected to report third quarter EPS of $0.48 on revenue of $1.10 billion, compared to last year’s EPS of $0.13 on revenue of $905.09 million.

W.R. Berkley Corporation (WRB) is expected to report third quarter EPS of $0.71 on revenue of $1.57 billion, compared to last year’s EPS of $0.61 on revenue of $1.42 billion.

Today’s Featured Dow Stock

Boeing Co. (BA)

Boeing Co. (BA) is up +62.58% year-to-date. Boeing also reports earnings on Wednesday, before the market open.

Financial Calendar

1000 ET Sep existing home sales expected -3.3% to 5.30 million, Aug +1.7% to 5.48 million.

1030 ET EIA Weekly Petroleum Status Report for week ended Oct 11.

1100 ET USDA weekly grain export inspections.

1600 ET USDA Crop Progress.

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