The Dow Market Happenings For Wednesday, April 16, 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 +52 points.

Tuesday, the Dow closed up +89.32 (+0.55%) at 16,262.56.

Year-to-date the Dow is down -1.89%.

Intel (INTC) shares are up 1% in after-hours trading after it reported Q1 EPS of 38 cents, better than consensus of 37 cents, but dow from 40 cents last year.

UnitedHealth (UNH) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup.

European stocks are higher and Asian stocks ended mostly higher.

The national average price of gasoline is up one cent to $3.653 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) reported earnings on 4/15/2014 after the market close $0.38/share beating consensus of $0.37/share.

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.

Caterpillar (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.

Merck (MRK) will report earnings on 4/29/14 before the market open.

Notable earnings reports from Tuesday include:

Coca-Cola Company (KO) reported first quarter EPS of $0.44 on revenue of $10.58 billion, compared to last year’s EPS of $0.46 on revenue of $11.04 billion.

Intel Corporation (INTC) reported first quarter EPS of $0.38 on revenue of $12.76 billion, compared to last year’s EPS of $0.40 on revenue of $12.58 billion.

Johnson & Johnson (JNJ) reported first quarter EPS of $1.54 on revenue of $18.12 billion, compared to last year’s EPS of $1.44 on revenue of $17.50 billion.

CSX Corporation (CSX) reported 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.

Yahoo! Inc. (YHOO) reported first quarter EPS of $0.38 on revenue of $1.09 billion, compared to last year’s EPS of $0.38 on revenue of $1.07 billion.

Stocks reporting earnings today include:

American Express Company (AXP) is expected to report first quarter EPS of $1.29 on revenue of $8.36 billion, compared to last year’s EPS of $1.15 on revenue of $7.88 billion.

International Business Machines (IBM) is expected to report first quarter EPS of $2.54 on revenue of $22.94 billion, compared to last year’s EPS of $3.00 on revenue of $23.41 billion.

Bank Of America Corporation (BAC) is expected to report first quarter EPS of $0.28 on revenue of $22.51 billion, compared to last year’s EPS of $0.10 on revenue of $23.50 billion.

Google Inc. (GOOG) is expected to report first quarter EPS of $0.23 on revenue of $526.41 million, compared to last year’s EPS of $0.23 on revenue of $503.85 million.

Today’s Featured Dow Stock

Verizon Communications Inc. (VZ)

Verizon Communications Inc. (VZ) is down -4.52% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -1.6% with purchase sub-index +2.7% and refi sub-index -4.9%.

0800 ET Fed Governor Jeremy Stein speaks at the Atlanta Feds Financial Markets Conference on the topic Was Quantitative Easing Needed to Unstick Markets? Or Has It Merely Sped Us Toward The Next Crisis?

0830 ET Mar housing starts expected +7.0% to 970,000, Feb -0.2% to 907,000. Mar building permits expected -0.3% to 1.010 million, Feb +7.3% to 1.014 million.

0915 ET Mar industrial production expected +0.5%, Feb +0.6% m/m. Mar manufacturing production expected +0.6%, Feb +0.8%. Mar capacity utilization expected +0.3 to 78.7%, Feb +0.3 to 78.4%.

1030 ET EIA Weekly Petroleum Status Report.

1130 ET Atlanta Fed President Dennis Lockhart delivers closing remarks at the Atlanta Feds Financial Markets Conference.

1215 ET Fed Chair Janet Yellen speaks to the Economic Club of New York.

1325 ET Dallas Fed President Richard Fisher speaks on the U.S> and regional economic outlook at the Texas Public Policy Foundation Conference in Austin, TX.

1400 ET Fed Beige Book.

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