DJIA Market Happenings For Wednesday, March 26, 2014

Dow stocks at 52 week highs include Caterpillar (CAT), Johnson & Johnson (JNJ), JPMorgan (JPM) and Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +69 points.

Tuesday, the Dow closed up +91.19 (+0.56%) at 16,367.88.

Year-to-date the Dow is down -1.26%.

There are 14 IPO’s this week. Today was KING (Candy Crush Maker).

European stocks are higher and Asian stocks ended higher.

The national average price of gasoline is up four-tenths of a cent to $3.535 per gallon.

Earnings Reports.

There are no Dow stocks expected to report earnings near term.

Notable earnings reports from Tuesay include:

Carnival Corporation (CCL) reported first quarter EPS of $0.00 on revenue of $3.58 billion, compared to last year’s EPS of $0.08 on revenue of $3.59 billion.

McCormick & Company, Incorporated (MKC) reported first quarter EPS of $0.62 on revenue of $993.40 million, compared to last year’s EPS of $0.57 per share on revenue of $934.40 million

Steelcase Inc. (SCS) reported fourth quarter EPS of $0.18 on revenue of $779.40 million, compared to last year’s EPS of $0.41 per share on revenue of $721.40 million.

Walgreen Co. (WAG) reported second quarter EPS of $0.91 on revenue of $19.61 billion, compared to last year’s EPS of $0.96 on revenue of $18.65 billion.

Stocks reporting earnings today include:

Lindsay Corporation (LNN) is expected to report second quarter EPS of $1.15 on revenue of $164.75 million, compared to last year’s EPS of $1.50 on revenue of $175.54 million.

Paychex, Inc. (PAYX) is expected to report third quarter EPS of $0.42 on revenue of $628.85 million, compared to last year’s EPS of $0.40 on revenue of $593.30 million.

Today’s Featured Dow Stock

International Business Machines Co. (IBM)

International Business Machines Co. (IBM) is up +3.98% year-to-date.

Financial Calendar

0200 ET St. Louis Fed President James Bullard speaks at a conference in Hong Kong on the topic Central Banks: Will policy making ever be conventional again?

0700 ET Weekly MBA mortgage applications, previous -1.2% with purchase sub-index -0.9% and refi sub-index -1.3%.

0830 ET Feb durable goods orders expected +0.8% and +0.3% ex-transportation, Jan -1.0% and +1.1% ex-transportation. Feb non-defensive ex-aircraft capital goods orders, Jan +1.5%.

0945 ET Mar Markit services PMI expected +0.7 to 54.0, Feb 53.3.

1030 ET EIA Weekly Petroleum Status Report.

1130 ET Treasury auctions $13 billion 2-year floating-rate notes.

1300 ET Treasury auctions $35 billion 5-year T-notes.

2020 ET St. Louis Fed President James Bullard speaks at a conference in Hong Kong on the topic What are the prospects for U.S. monetary policy?

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