The Dow Market Happenings For Wednesday, February 19, 2014

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

The Market

Premarket, the Dow was indicated to open down -39 points.

Tuesday, the Dow closed down -23.99 (-0.15%) at 16,130.40.

Year-to-date the Dow is down -2.69%.

The Fed releases today the minutes from the January FOMC meeting.

Wal-Mart (WMT) reports earnings tomorrow before the open.

It’s a quiet day.

Tesla reports earnings tonight.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is up nine-tenths of a cent to $3.375 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) reported earnings on 2/18/14 before the market open of $0.46/share, meeting expectations.

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:

Coca-Cola (KO) reported fourth quarter EPS of $0.46, in-line with the consensus estimate. Revenue of $3.5 billion missed the consensus estimate of $3.58 billion.

Duke Energy (DUK) reported fourth quarter EPS of $0.95, missing the consensus estimate of $1.00. Revenue of $6.15 billion missed the consensus estimate of $6.32 billion.

Other stocks expected to report earnings today include:

Devon Energy (DVN) is estimated to report its Q4 earnings at $1.08 per share on revenue of $2.69 billion.

MGM Resorts International (MGM) is estimated to report a Q4 loss at $0.01 per share on revenue of $2.46 billion.

Tesla Motors (TSLA) is expected to post its Q4 earnings at $0.21 per share on revenue of $677.36 million.

Today’s Featured Dow Stock

Pfizer Inc. (PFE)

Pfizer Inc. (PFE) is up +4.08% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.0% with purchase sub-index -5.0% and refi sub-index -0.2%.

0830 ET Jan housing starts expected -4.9% to 950,000, Dec -9.8% to 999,000. Jan building permits expected -1.6% to 975,000, Dec -2.6% to 991,000.

0830 ET Jan PPI expected+0.1% m/m and +1.2% y/y, Dec +0.1% m/m and +1.1% y/y. Jan PPI ex food & energy expected +0.1% m/m and +1.4% y/y, Dec +0.3% m/m and +1.1% y/y.

1215 ET Atlanta Fed President Dennis Lockhart speaks on the economic outlook at Mercer University.

1300 ET St. Louis Fed President James Bullard speaks to the Exchequer Club in Washington D.C.

1400 ET Fed releases minutes from the Jan 28-29 FOMC meeting.

1900 ET San Francisco Fed President John Williams speaks on the economy to the Money Marketeers of NYU.

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