DJIA Market Happenings For Friday, May 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 down -8 points.

Thursday, the Dow closed down -167.16 (+1.01%) at 16,446.81.

Year-to-date the Dow is down -0.78%.

Verizon (VZ) climbed nearly 2% in after-hours trading after Berkshire Hathaway disclosed that it has a 11 million share stake in the company worth nearly $530 million.

It’s Friday and not much news out there.

European stocks were mostly higher and Asian markets closed mixed.

The national average price of gasoline is up six-tenths of a cent at $3.647 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 Thursday include:

Wal-Mart Stores (WMT) reported first quarter EPS of $1.10 on revenue of $114.96 billion, compared to last year’s EPS of $1.14 on revenue of $114.19 billion.

Kohl’s Corporation (KSS) reported first quarter EPS of $0.60 on revenue of $4.07 billion, compared to last year’s EPS of $0.66 on revenue of $4.20 billion.

J.C. Penney Company (JCP) reported a first quarter loss of $1.16 on revenue of $2.80 billion, compared to last year’s loss of $1.38 on revenue of $2.64 billion.

Nordstrom (JWN) reported first quarter EPS of $0.72 on revenue of $2.92 billion, compared to last year’s EPS of $0.73 on revenue of $2.75 billion.

Stocks reporting earnings today include:

Canadian Solar (CSIQ) is expected to report first quarter EPS of $0.12 on revenue of $431.98 million, compared to last year’s loss of $0.10 on revenue of $263.61 million.

Tsakos Energy Navigation (TNP) is expected to report first quarter EPS of $0.12 on revenue of $89.16 million, compared to last year’s EPS of $0.02 on revenue of $69.40 million.

Today’s Featured Dow Stock

McDonald’s Corp. (MCD)

McDonald’s Corp. (MCD) is up +5.64% year-to-date.

Financial Calendar

0830 ET Apr housing starts expected +3.6% to 980,000, Mar +2.8% to 946,000. Apr building permits expected +1.3% to 1.01 million, Mar -2.4% to 990,000.

0955 ET Preliminary-May U.S. consumer confidence index (University of Michigan) expected +0.4 to 84.5, Apr +4.1 to 84.1.

1150 ET St. Louis Fed President James Bullard speaks on the economy and monetary policy to the Arkansas Bankers Association.

1500 ET USDA Apr Cattle on Feed.

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