The Dow Market Happenings For Thursday, May 15, 2014

Dow stocks at 52 week highs include McDonald’s (MCD). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -32 points.

Wednesday, the Dow closed down -101.47 (-0.61%) at 16,613.97.

Year-to-date the Dow is up +0.23%.

AT&T (T) is supposedly putting together a plan to acquire DirecTV for around $50 billion.

General Electric (GE) is in the process of acquiring Alstom SA’s energy assets.

Wal-Mart (WMT) reported Q1 EPS of $1.10, below consensus of $1.15.

Cisco (CSCO) rose over 6% in after-hours trading after it reported Q3 adjusted EPS of 51 cents, better than consensus of 48 cents.

European stocks were lower and Asian markets closed mixed.

The national average price of gasoline is up two-tenths of a cent at $3.641 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) reported earnings on 4/22/14 before the market open of $1.21/share, below estimates of $1.24/share.

Travelers (TRV) reported earnings on 4/22/14 before the market open of $2.95/share, well ahead of $2.16/share consensus.

United Technologies (UTX) reported earnings on 4/22/14 before the market open of $1.32/share beating estimates by $0.05/share.

AT&T (T) reportrf earnings on 4/22/14 after the market close of $0.71/share, beating estimates of $0.70/share.

Boeing (BA) reported earnings on 4/23/14 before the market open of $1.76/share ahead of $1.54/share consensus.

Procter & Gamble (PG) reported earnings on 4/23/14 before the market open of $1.04/share, beating consensus of $1.02/share.

Caterpillar (CAT) reported earnings on 4/24/14 before the market open of $1.61/share, beating consensus of $1.25/share.

3M (MMM) reported earnings on 4/24/14 before the market open of $1.79/share, meeting consensus.

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) reported earnings on 4/24/14 after the market close of $0.84/share, below consensus of $0.87/share.

Merck (MRK) reported earnings on 4/29/14 before the market open of $0.88/share, beating consensus of $0.79/share.

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

Chevron (CVX) will report earnings on 5/2/14 before the market open of $2.10/share, beating consensus of $1.88/share.

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

Walt Disney (DIS) reported earnings on 5/6/14 after the market close of $1.11/share, beating consensus of $0.96/share.

Cisco (CSCO) reported earnings on 5/14/14 after the market close of $0.51/share, beating consensus of $0.48/share.

Wal-Mart (WMT) reported earnings on 5/15/14 before the market open of $1.10/share, below consensus of $1.15/share.

Home Depot (HD) reports earnings on 5/20/14 before the market open

Notable earnings reports from Wednesday include:

Cisco Systems (CSCO) reported third quarter EPS of $0.51 on revenue of $11.50 billion, compared to last year’s EPS of $0.51 on revenue of $12.22 billion.

Deere & Company (DE) reported second quarter EPS of $2.65 on revenue of $9.25 billion, compared to last year’s EPS of $2.76 on revenue of $10.26 billion.

Macy’s (M) reported first quarter EPS of $0.60 on revenue of $6.28 billion, compared to last year’s EPS of $0.55 on revenue of $6.39 billion.

Pinnacle Foods (PF) reported first quarter EPS of $0.36 on revenue of $644.00 million, compared to last year’s EPS of $0.34 on revenue of $612.98 million.

Stocks reporting earnings today include:

Wal-Mart Stores (WMT) is expected to report first quarter EPS of $1.16 on revenue of $116.24 billion, compared to last year’s EPS of $1.14 on revenue of $114.19 billion.

Kohl’s (KSS) is expected to report first quarter EPS of $0.63 on revenue of $4.23 billion, compared to last year’s EPS of $0.66 on revenue of $4.20 billion.

J.C. Penney Company (JCP) is expected to report a first quarter loss of $1.25 on revenue of $2.71 billion, compared to last year’s loss of $1.38 on revenue of $2.64 billion.

Nordstrom (JWN) is expected to report first quarter EPS of $0.68 on revenue of $2.86 billion, compared to last year’s EPS of $0.73 on revenue of $2.75 billion.

Today’s Featured Dow Stock

JPMorgan Chase and Co. (JPM)

JPMorgan Chase and Co. (JPM) is down -7.05% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +1,000 to 320,000, previous -26,000 to 319,000. Weekly continuing claims expected +5,000 to 2.690 million, previous -76,000 to 2.685 million.

0830 ET May Empire manufacturing index expected +4.71 to 6.00, Apr -4.32 to 1.29.

0830 ET Apr CPI expected +0.3% m/m and +2.0% y/y, Mar +0.2% m/m and +1.5% y/y. Apr CPI ex food and energy expected +0.1 m/m and +1.7% y/y, Mar +0.2% m/m and +1.7% y/y.

0830 ET USDA weekly Export Sales.

0915 ET Apr industrial production expected unch, Mar +0.7%. Apr capacity utilization expected -0.1 to 79.1%, Mar +0.4 to 79.2%.

1000 ET May Philadelphia Fed manufacturing index expected -2.6 to 14.0, Apr +7.6 to 16.6.

1000 ET May NAHB housing market index expected +2 to 49, Apr +1 to 47.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned May 22 (previous $13 billion).

1810 ET Fed Chair Janet Yellen speaks to the U.S. Chamber of Commerce and the U.S. Small Business Administration.

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