DJIA Market Happenings For Tuesday, April 15, 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 up +4 points.

Monday, the Dow closed up +146.49 (+0.91%) at 16,173.24.

Year-to-date the Dow is down -3.32%.

Coca-Cola (KO) reported Q1 EPS of 44 cents, right on consensus, although Q1 revenue of $10.58 billion was higher than consensus of $10.55 billion.

Excluding special items, Johnson & Johnson (JNJ) earned $1.54 per share. Consensus was for $1.48 per share. Sales rose 3.5 percent to $18.1 billion in the quarter, topping Wall Street forecasts of $18 billion.

International Business Machines (IBM) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup.

Analysts at FBR Capital maintained a Market Perform rating on JPMorgan Chase (JPM) with a price target of $55.

Analysts at Jefferies maintained a Buy rating on JPMorgan with a price target lowered to $68 from a previous $69.

Analysts at MKM Partners maintained a Buy rating on Merck (MRK) with a price target raised to $70 from a previous $64.

Analysts at Jefferies maintained a Hold rating on Merck with a price target raised to $61 from a previous $57.

Analysts at Jefferies maintained a Buy rating of Pfizer (PFE) with a price target lowered to $36 from a previous $38.

Analysts at Baird upgraded Visa (V) to Outperform with a $245 price target.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is up three-tenths of a cent to $3.638 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 4/11/2014 before the market open of $1.28/share below consensus of $1.41/share.

Coca Cola (KO) reported earnings on 4/15/2014 before the market open of $0.44/share, meeting consensus.

Johnson & Johnson (JNJ) reported earnings on 4/15/2014 before the market open of $1.54/share, beating consensus of $1.48/share.

Intel (INTC) will report earnings on 4/15/2014 after the market close.

American Express (AXP) will report earnings on 4/16/2014 after the market close.

IBM will report earnings on 4/16/2014 after the market close.

Dupont (DD) will report earnings on 4/17/2014 before the market open.

General Electric (GE) will report earnings on 4/17/2014 before the market open.

Goldman Sachs will report earnings on 4/17/2014 before the market open.

UnitedHealth (UNH) will report earnings on 4/17/2014 before the market open.

McDonalds (MCD) will report earnings on 4/22/14 before the market open.

Travelers (TRV) will report earnings on 4/22/14 before the market open.

United Technologies (UTX) will report earnings on 4/22/14 before the market open.

AT&T (T) will report earnings on 4/22/14 after the market close.

Boeing (BA) will report earnings on 4/23/14 before the market open.

Procter & Gamble will report earnings on 4/23/14 before the market open.

Caterpiller (CAT) will report earnings on 4/24/14 before the market open.

3M (MMM) will report earnings on 4/24/14 before the market open.

Verizon VZ will report earnings on 4/24/14 before the market open.

Micrososft (MSFT) will report earnings on 4/24/14 after the market close.

Visa (V) will report earnings on 4/24/14 after the market close.

Notable earnings reports from Monday include:

Citigroup Inc. (NYSE: C) reported first quarter EPS of $1.30 on revenue of $20.10 billion, compared to last year’s EPS of $1.23 on revenue of $20.49 billion.

J.B. Hunt Transport Services, Inc. (JBHT) reported first quarter EPS of $0.58 on revenue of $1.41 billion, compared to last year’s EPS of $0.61 on revenue of $1.29 billion.

M&T Bank Corporation (MTB) reported first quarter EPS of $1.66, compared to last year’s EPS of $1.98 on revenue of $1.09 billion.

Pinnacle Financial Partners, Inc. (PNFP) reported first quarter EPS of $0.47 on revenue of $58.60 million, compared to last year’s EPS of $0.39 on revenue of $54.66 million.

Stocks reporting earnings today include:

Coca-Cola Company (KO) is expected to report first quarter EPS of $0.45 on revenue of $10.61 billion, compared to last year’s EPS of $0.46 on revenue of $11.04 billion.

ntel Corporation (INTC) is expected to report first quarter EPS of $0.37 on revenue of $12.81 billion, compared to last year’s EPS of $0.40 on revenue of $12.58 billion.

Johnson & Johnson (JNJ) is expected to report first quarter EPS of $1.48 on revenue of $18.00 billion, compared to last year’s EPS of $1.44 on revenue of $17.50 billion.

CSX Corporation (CSX) is expected to report first quarter EPS of $0.41 on revenue of $2.99 billion, compared to last year’s EPS of $0.45 on revenue of $2.96 billion.

Today’s Featured Dow Stock

UnitedHealth Group Inc. (UNH)

UnitedHealth Group Inc. (UNH) is up +5.15% year-to-date.

Financial Calendar

0830 ET Apr Empire manufacturing index expected +2.39 to 8.00, Mar +1.13 to 5.61.

0830 ET Mar CPI expected +0.1% m/m and +1.4% y/y, Feb +0.1% m/m and +1.1% y/y. Mar CPI ex food & energy expected +0.1% m/m and +1.6% y/y, Feb +0.1% m/m and +1.6% y/y.

0830 ET Atlanta Fed President Dennis Lockhart speaks at the Atlanta Feds Financial Markets Conference.

0845 ET Fed Chair Janet Yellen delivers opening remarks at the Atlanta Feds Financial Markets Conference.

1000 ET Apr NAHB housing market index expected +3 to 50, Mar +1 to 47.

1500 ET Philadelphia Fed President Charles Plosser moderates a panel titled Adding Fuel to the Engine: Will More Private Liquidity Yield a Safer, More Efficient Financial System? at the Atlanta Feds 2014 Financial Markets Conference.

1600 ET Boston Fed President Eric Rosengren speaks at Husson University in Bangor, ME.

2000 ET Minneapolis Fed President Narayana Kocherlakota participates in a town hall forum in Fargo, ND.

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