The Dow Market Happenings For Friday, March 14, 2014

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

The Market

Premarket today, the Dow was indicated to open down -20 points.

Thursday, the Dow closed down -231.19 (-1.41%) at 16,108.89.

Year-to-date the Dow is down -2.82%.

Yesterday, General Electric announced that it is planning to sell a part of its credit card unit. The company will hold an IPO for the new company, set to be called Synchrony Financial.

The search for a Malaysia Airlines jet has shifted hundreds of miles west after it was discovered that the plane had been transmitting its location to satellites for nearly five hours after it disappeared from radar. Experts say the final transmission was sent over water at a normal cruising altitude and that it is unclear why the transmissions stopped.

European stocks are lower and Asian stocks ended lower.

The national average price of gasoline is up nine-tenths of a cent to $3.513 per gallon.

Earnings Reports.

Nike (NKE) is expected to report earnings on 3/20/14 after the market close.

Notable earnings reports from Thursday include:

Aeropostale Inc (ARO) reported a fourth quarter loss of $0.35 on revenue of $670.00 million, compared to last year’s EPS of $0.24 on revenue of $797.71 million.

Christopher & Banks Corporation (CBK) reported a fourth quarter loss of $0.01, compared to last year’s loss of $0.11 on revenue of $115.98 million.

Dollar General Corporation (DG) reported fourth quarter EPS of $1.01 on revenue of $4.49 billion, compared to last year’s EPS of $0.97 on revenue of $4.21 billion.

Stocks reporting earnings today include:

ANN INC (ANN) is expected to report fourth quarter EPS of $0.07 on revenue of $623.88 million, compared to last year’s EPS of $0.05 on revenue of $607.68 million.

Brown Shoe Company (BWS) is expected to report fourth quarter EPS of $0.10 on revenue of $620.35 million, compared to last year’s EPS of $0.14 on revenue of $640.18 million.

Buckle, Inc (BKE) is expected to report fourth quarter EPS of $1.20 on revenue of $349.93 million, compared to last year’s EPS of $1.28 on revenue of $360.62 million.

Today’s Featured Dow Stock

Cisco Systems Inc. (CSCO)

Cisco Systems Inc. (CSCO) is down -4.06% year-to-date.

Financial Calendar

0830 ET Feb PPI expected +0.2% m/m and +1.2% y/y, Jan +0.2% m/m and +1.2% y/y. Feb PPI ex food & energy expected +0.1% m/m and +1.4% y/y, Jan +0.2% m/m and +1.3% y/y.

0955 ET Preliminary-March University of Michigan U.S. consumer confidence expected +0.4 to 82.0, Feb +0.4 to 81.6.

2145 ET President Obamas nominee to be the new Fed Vice Chairman, Stanley Fisher, delivers the keynote speech at the Stanford Institute for Economic Policy Researchs 2014 economic summit at Stanford University.

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