The Dow Market Happenings For Friday, May 02, 2014

Dow stocks at 52 week highs include 3M (MMM) and Merck (MRK). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -11 points.

Thursday, the Dow closed down -21.97 (-0.13%) at 16,558.87.

Year-to-date the Dow is down -0.11%.

The Labor Department reported today that the economy added 288,000 jobs in April, far better than the 205,000 jobs economists had predicted. The unemployment rate fell to 6.3% in April, down from 6.7% in March and beating the 6.6% forecast expected by economists.

Pfizer (PFE) announced today that it had raised its offer to acquire AstraZeneca Plc to $106 billion. If the deal is carried out, it will create the world’s largest pharmaceuticals company and give Pfizer several tax breaks.

European stocks were mixed and Asian stocks closed mostly higher.

The national average price of gasoline is down four-tenths of a cent at $3.687 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) reported earnings on 4/16/2014 after the market close of $1.33/share beating consensus of $1.30/share.

International Business Machines (IBM) reported earnings on 4/16/2014 after the market close of $2.54/share, meeting consensus.

Dupont (DD) reported earnings on 4/17/2014 before the market open of $1.58/share, meeting consensus.

General Electric (GE) reported earnings on 4/17/2014 before the market open of $0.36/share, beating consensus of $0.32/share.

Goldman Sachs reported earnings on 4/17/2014 before the market open of $4.02/share, beating consensus of $3.44/share.

UnitedHealth (UNH) reported earnings on 4/17/2014 before the market open of $1.10/share, narrowly beating consensus of $1.093/share.

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 (PG) 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.

Exxon Mobil (XOM) will report earnings on 5/1/14 before the market open.

Chevron (CVX) will report earnings on 5/2/14 before the market open.

Pfizer (PFE) will report earnings on 5/5/14 before the market open.

Walt Disney (DIS) will report earnings on 5/6/14 after the market close.

Notable earnings reports from Thursday include:

Exxon Mobil Corporation (XOM) reported first quarter EPS of $2.10 on revenue of $106.77 billion, compared to last year’s EPS of $1.12 on revenue of $108.81 billion.

Kellogg Company (K) reported first quarter EPS of $1.12 on revenue of $3.70 billion, compared to last year’s EPS of $1.02 on revenue of $3.86 billion.

Kraft Foods Group, Inc. (KRFT) reported first quarter EPS of $0.78 on revenue of $4.40 billion, compared to last year’s EPS of $0.76 on revenue of $4.55 billion.

Mastercard Incorporated (MA) reported first quarter EPS of $0.73 on revenue of $2.18 billion, compared to last year’s EPS of $0.62 on revenue of $1.91 billion.

Stocks reporting earnings today include:

Chevron Corporation (CVZ) is expected to report first quarter EPS of $2.51 on revenue of $54.47 billion, compared to last year’s EPS of $3.18 on revenue of $56.82 billion.

CVS Corporation (CVS) is expected to report first quarter EPS of $1.04 on revenue of $32.31 billion, compared to last year’s EPS of $0.83 on revenue of $30.76 billion.

Estee Lauder Companies, Inc. (EL) is expected to report first quarter EPS of $0.55 on revenue of $2.49 billion, compared to last year’s EPS of $0.45 on revenue of $2.29 billion.

Marsh & McLennan Companies, Inc. (MMC) is expected to report first quarter EPS of $0.80 on revenue of $3.27 billion, compared to last year’s EPS of $0.73 on revenue of $3.13 billion.

Today’s Featured Dow Stock

E I du Pont de Nemours and Co. (DD)

E I du Pont de Nemours and Co. (DD) is up +2.76% year-to-date.

Financial Calendar

0830 ET Apr non-farm payrolls expected +215,000, Mar +192,000. Apr private payrolls expected +215,000, Mar +192,000. Apr manufacturing payrolls expected +8,000, Mar 1,000. Apr unemployment rate expected -0.1 to 6.6%, Mar unch at 6.7%.

0830 ET Apr avg hourly earnings expected +0.2% m/m and +2.1% y/y, Mar unch m/m and +2.1% y/y. Apr avg weekly hours expected unch at 34.5 hours, Mar 34.5 hours.

0945 ET Apr New York ISM expected +2.0 to 54.0, Mar 52.0.

1000 ET Mar factory orders expected +1.5%, Feb +1.6%.

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