DJIA Market Happenings For Thursday, February 13, 2014

Dow stocks at 52 week highs include Disney (DIS). There are no Dow stock 52 week lows.

The Market

Premarket, the Dow was indicated to open down -95 points.

Wednesday, the Dow closed down -30.83 (-0.19%) at 15,963.94.

Year-to-date the Dow is down -3.70%

Cisco (CSCO) fell nearly 4% in after-hours trading after it reported Q2 adjusted EPS of 47 cents, higher than consensus of 46 cents, but said revenue in the current quarter will be $11.2 billion to $11.5 billion, at the low end of consensus of $11.3 billion. The company also raised its dividend.

New unemployment claims rose to 339,000 in the week to February 8, down from 331,000 the previous week. The four-week moving average moved up to 336,750, compared to 333,250 last week and 356,500 a year ago.

European stocks are lower and Asian stocks ended lower.

The national average price of gasoline is up a penny to $3.327 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 1/14/14 of $1.40/share before the market open.

Goldman Sachs (GS) reported earnings on 1/16/14 of $4.60/share before the market open beating consensus of $4.18/share.


American Express (AXP) reported earnings
of $1.25/share on 1/16/14 after the market close.

Intel (INTC) reports earnings on 1/15/14 after the market close.

United Health (UNH) reported earnings of $1.41/share on 1/16/14 before the market open.

General Electric reported earnings of $0.53/share on 1/17/14 before the market open meeting consensus.

Johnson & Johnson (JNJ) reported earnings of $1.24/share on 1/21/14 before the market open.

Travelers (TRV) reported earnings of $2.68/share on 1/21/14 before the market open beating consensu.

Verizon (VZ) reported earnings of $0.66/share on 1/21/14 before the market open beating consensus.

International Business Machines (IBM) will report earnings on 1/21/14 after the market close.

United Technologies reported earnings of $1.58, higher than consensus of $1.53, on 1/22/14 before the market open.

McDonalds (MCD) reported earnings of $1.40/share on 1/23/14 before the market open, beating consensus by a penny.

Microsoft (MSFT) reported earnings of $0.78/share on 1/23/14 after the market close, beating consensus of $0.68/share.

Procter & Gamble (PG) reported earnings on 1/24/14 before the market open of $1.21/share, beating consensus of $1.20.

Caterpillar (CAT) reported earnings of $1.54/share on 1/27/14 before the market open, beating consensus of $1.28/share..

Dupont (DD) reported earnings on 1/28/14 before the open of $0.59/share beating consensus of $0.55/share.

General Electric (GE) reports earnings on 1/28/14 before the open.

Pfizer (PFE) reported earnings on 1/28/14 before the open of $0.56/share beating consensus of $0.52/share.

AT&T (T) reported adjusted earnings on 1/28/14 after the market close of $0.53/share, beating consensus of $0.50/share.

Boeing (BA) reported core earnings on 1/29/14 before the market open of $1.88/share, beating consensus of $1.57/share.

3M (MMM) reported earnings on 1/30/14 before the market open of $1.62/share, meeting consensus.

Visa (V) reported earnings on 1/30/14 before the market open of $2.20/share, beating consensus of $2.16/share.

Exxon Mobil (XOM) reported earnings on 1/30/14 before the market open of $1.91/share, missing consensus of $1.92.

Chevron (CVX) reported earnings on 1/31/14 before the market open of $2.57/share, missing consensus of $2.60/share.

Merck (MRK) reported earnings on 2/5/14 before the market open of $0.88/share, below consensus of $0.89/share.

Disney (DIS) reported earnings on 2/5/14 after the market close of $1.04/share, beating consensus of $0.92/share.

Cisco (CSCO) reported earnings on 2/12/14 after the market close of $0.47/share, beating consensus of $0.46/share..

Coca Cola (KO) reports earnings on 2/18/14 before the market open.

Wal-Mart Stores Inc (WMT) reports earnings on 2/20/14 before the market open.

Home Depot Inc. (HD) reports earnings on 2/25/14 before the market open.

Notable earnings reports include:

Cisco (CSCO) reported second quarter EPS of $0.47, beating the consensus estimate of $0.46. Revenue of $11.2 billion beat the consensus estimate of $11.3 billion.

Alpha Natural Resources (ANR) reported fourth quarter EPS of -$0.52, beating the consensus estimate of -$0.61. Revenue of $1.1 billion missed the consensus estimate of $1.02 billion.

Deere & Company (DE) reportedfirst quarter EPS of $1.81, beating the consensus estimate of $1.53. Revenue of $7.65 billion beat the consensus estimate of $6.62 billion.

MetLife (MET) reported fourth quarter EPS of $1.37, beating the consensus estimate of $1.30. Revenue of $18.38 billion beat the consensus estimate of $17.43 billion.

Talisman Energy (TLM) reported fourth quarter EPS of -$0.11, missing the consensus estimate of $0.01. Revenue of $929 million missed the consensus estimate of $1.46 billion.

Whole Foods Market (WFM) reported first quarter EPS of $0.42, missing the consensus estimate of $0.44. Revenue of $4.2 billion missed the consensus estimate of $4.3 billion.

Other stocks expected to report earnings today include:

American International Group (AIG) is projected to post its Q4 earnings at $0.96 per share on revenue of $8.56 billion.

Avon Products (AVP) is estimated to report its Q4 earnings at $0.30 per share on revenue of $2.75 billion.

Discovery Communications (DISCA) is projected to report its Q4 earnings at $0.92 per share on revenue of $1.56 billion.

Pepsico (PEP) is estimated to report its Q4 earnings at $1.01 per share on revenue of $20.16 billion.

Today’s Featured Dow Stock

Merck & Co Inc. (MRK)

Merck & Co Inc. (MRK) is up +9.89% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -1,000 to 330,000, previous -20,000 to 331,000. Weekly continuing claims expected -4,000 to 2.960 million, previous +15,000 to 2.964 million.

0830 ET Jan retail sales expected unch and +0.1% ex autos, Dec +0.2% and +0.7% ex autos.

0830 ET USDA weekly Export Sales.

1000 ET Dec business inventories expected +0.4%, Nov +0.4%.

1030 ET Fed Chair Janet Yellen testifies on the economy before the Senate Banking Committee.

1100 ET Treasury announces amount of 30-year TIPS to be auctioned Feb 20 (previous $7 billion).

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

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