The Dow Market Happenings For Wednesday, May 21, 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 +66 points.

Tuesday, the Dow closed down -137.55 (-0.83%) at 16,374.31.

Year-to-date the Dow is down -1.22%.

With Home Depot’s earnings report yesterday, we have no more Dow stocks to report until Nike reports in late June.

Four Dow stocks out of the 30 stocks reported less than consensus earnings. They were JPMorgan (JPM), McDonald’s (MCD), Visa (V) and Wal-Mart (WMT).

FOMC minutes from its April meeting will be released at 2 p.m. ET.

European stocks were lower and Asian markets closed mixed.

The national average price of gasoline is unchanged at $3.642 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 3/20/14 after the market close of $0.76/share, beating consensus of $0.73/share.

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) reported 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 reported earnings on 4/24/14 before the market open of $0.84/share, beating consensus of $0.87/share.

Micrososft (MSFT) reported earnings on 4/24/14 after the market close of $0.68/share, beating consensus of $0.62/share.

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 of $2.10/share, beating consensus of $1.88/share.

Chevron (CVX) reported earnings on 5/2/14 before the market open of $2.36/share, beating consensus of $2.53/share.

Pfizer (PFE) reported earnings on 5/5/14 before the market open of $0.57/share, beating consensus of $0.55/share.

Walt Disney (DIS) reported earnings on 5/6/14 after the market close of $1.11/share, beating consensus of $0.97/share.

Cisco (CSCO) reported earnings on 5/14/14 after the market close of $0.51/share, beating consensus of $0.43/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) reported earnings on 5/20/14 before the market open of $1.00/share narrowly ahead of consensus of 0.$99/share.

Notable earnings reports from Tuesday include:

Home Depot (HD) reported first quarter EPS of $0.96 on revenue of $19.69 billion, compared to last year’s EPS of $0.83 on revenue of $19.12 billion.

Medtronic (MDT) reported fourth quarter EPS of $1.12 on revenue of $4.57 billion, compared to last year’s EPS of $1.10 on revenue of $4.46 billion.

Salesforce.com (CRM) reported first quarter EPS of $0.11 on revenue of $1.23 billion, compared to last year’s EPS of $0.10 on revenue of $982.63 million.

Staples (SPLS) reported first quarter EPS of $0.18 on revenue of $5.65 billion, compared to last year’s EPS of $0.26 on revenue of $5.81 billion.

Stocks reporting earnings today include:

Hormel Foods (HRL) is expected to report second quarter EPS of $0.56 on revenue of $2.24 billion, compared to last year’s EPS of $0.49 on revenue of $2.15 billion.

Lowe’s Companies (LOW) is expected to report first quarter EPS of $0.61 on revenue of $13.91 billion, compared to last year’s EPS of $0.49 on revenue of $13.09 billion.

Target Corporation (TGT) is expected to report first quarter EPS of $0.72 on revenue of $17.02 billion, compared to last year’s EPS of $0.82 on revenue of $16.71 billion.

Tiffany & Co.(TIF) is expected to report first quarter EPS of $0.78 on revenue of $955.12 million, compared to last year’s EPS of $0.70 on revenue of $895.48 million.

Today’s Featured Dow Stock

Nike Inc. (NKE)

Nike Inc. (NKE) is down -6.84% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +3.6% with purchase sub-index -0.1% and refi sub-index +6.8%.

1030 ET EIA Weekly Petroleum Status Report.

1100 ET Fed Chair Janet Yellen delivers commencement speech at NYU.

1250 ET Kansas City Fed President Esther George speaks on the U.S. economy and banking in Washington D.C.

1330 ET Minneapolis Fed President Narayana Kocherlakota speaks to the Economic Club of Minnesota.

1400 ET Minutes of the April 29-30 FOMC meeting.

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