The Dow Market Happenings For Tuesday, February 25, 2014

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

The Market

Premarket, the Dow was indicated to open down -9 points.

Monday, the Dow closed up +103.84 (+0.64%) at 16,207.14.

Year-to-date the Dow is down -2.23%.

Home Depot (HD) reported Q4 EPS of 73 cents, higher than consensus of 71 cents. The company said that a recovering housing market drove the increase in quarterly sales.

Verizon (VZ) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan.

The S&P/Case-Shiller Home Price Indices showed that National home prices closed the year of 2013 up 11.3%. This represents a slight improvement over last quarter’s annual rate of 11.2%. In the fourth quarter of 2013, the National Index declined 0.3%.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is up seven-tenths of a cent to $3.426 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) reported earnings on 2/20/14 before the market open of $1.60/share, better than consensus of $1.59/share.

Home Depot Inc. (HD) reported earnings on 2/25/14 before the market open of $0.73/share, beating consensus of $0.71/share.

Notable earnings reports include:

Frontier Communications (FTR) reported fourth quarter EPS of $0.07, beating the consensus estimate of $0.06. Revenue of $1.18 billion was in-line with the consensus estimate.

HSBC Holdings (HSBC) reported that its 2013 pretax profit totaled $22.56 billion, short of the consensus estimate of $24.6 billion.

Other stocks expected to report earnings today include:

Domino’s Pizza (DPZ) is estimated to report its Q4 earnings at $0.76 per share on revenue of $563.39 million.

The Home Depot (HD) is expected to report its Q4 earnings at $0.71 per share on revenue of $17.91 billion.

Macy’s (M) is projected to report its Q4 earnings at $2.17 per share on revenue of $9.27 billion.

Toll Brothers (TOL) is estimated to report its Q1 earnings at $0.18 per share.

Office Depot (ODP) is expected to report its Q4 earnings at $0.03 per share on revenue of $4.09 billion.

Today’s Featured Dow Stock

United Technologies Corp. (UTX)

United Technologies Corp. (UTX) is up +2.36% year-to-date.

Financial Calendar

0900 ET Dec FHFA house price index expected +0.3% m/m, Nov +0.1% m/m. Q4 house price purchase index expected +1.00% q/q, Q3 +1.96% q/q.

0900 ET Dec S&P/CaseShiller composite-20 home price index expected +0.6% m/m and +13.40% y/y, Nov +0.88% m/m and +13.71% y/y. Q4 home price index, Q3 +11.18% y/y.

1000 ET U.S. Feb consumer confidence (Conference Board) expected -0.7 to 80.0, Jan +3.2 to 80.7.

1000 ET Feb Richmond Fed manufacturing index expected -7 to 5, Jan -1 to 12.

1010 ET Fed Governor Daniel Tarullo speaks at the annual NABE conference on a panel titled A View from the Fed.

1300 ET Treasury auctions $32 billion 2-year T-notes.

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