DJIA Market Happenings For Monday, June 16, 2014

Dow stocks at 52 week highs include Intel (INTC) and Travelers (TRV). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -30 points.

Friday, the Dow closed up +41.55 (+0.25%) at 16,775.74.

Year-to-date the Dow is up +1.20%.

Dow stock winners Friday included Intel (INTC) +6.83% ad Microsoft (MSFT) +1.60%.

Dow stock losers Friday included Wal-Mart (WMT) -0.59% and Home Depot (HD) -0.46%.

Friday there were 17 Dow stock winner, 10 Dow stock losers and 3 unchanged.

The Fed will discuss monetary policy on Tuesday and Wednesday.

Stocks are lower on the latest trouble in Ukraine and fighting in Iraq.

Prices for gold and oil are higher.

Medtronic Inc. announced on Sunday that it was planning to buy Covidien Plc for $42.9 billion in stocks and cash. Following the deal, the US medical device company is planning to move its executive base to Ireland where lower corporate tax rates could provide significant savings. The merger will create one of the largest businesses in the medical device space that could rival the current industry leader, Johnson & Johnson Co. (JNJ).

European stocks were lower and Asian markets ended mixed.

The national average price of gasoline is up one-tenth of a cent at $3.662 per gallon.

Earnings Reports.

Nike (NKE) will report earnings on 6/26/14 after the market close.

Notable earnings reports from Friday include:

Culp (CFI) reported fourth quarter EPS of $0.27 on revenue of $74.00 million, compared to last year’s EPS of $0.41 on revenue of $70.38 million.

Stocks reporting earnings today include:

Amira Nature Foods (ANFI) is expected to report fourth quarter EPS of $0.33 on revenue of $162.20 million, compared to last year’s EPS of $0.24 on revenue of $140.25 million.

Korn/Ferry International (KFY) is expected to report fourth quarter EPS of $0.39 on revenue of $244.61 million, compared to last year’s EPS of $0.32 on revenue of $238.68 million.

Layne Christensen (LAYN) is expected to a report first quarter loss of $0.34 on revenue of $206.58 million, compared to last year’s loss of $0.81 on revenue of $226.45 million.

Today’s Featured Dow Stock

AT&T Inc. (T)

AT&T Inc. (T) is down -0.37% year-to-date.

Financial Calendar

0830 ET Jun Empire manufacturing index expected -4.01 to 15.00, May +17.72 to 19.01.

0915 ET May industrial production expected +0.5%, Apr -0.6%. May capacity utilization expected +0.3 to 78.9%, Apr was -0.7 to 78.6%.

1000 ET Jun NAHB housing market index expected +2 to 47, May -1 to 45.

1100 ET USDA weekly grain export inspections.

1600 ET USDA weekly crop progress.

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