The Dow Market Happenings For Thursday, September 11, 2014

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

The Market

Premarket today, the Dow was indicated to open down -73 points.

Wednesday, the Dow closed up +54.84 (+0.32%) at 17,068.71.

Year-to-date the Dow is up +2.97%.

Dow stock winners Wednesday included McDonald’s (MCD) +2.10% and Goldman Sachs (GS) +1.39%.

Dow stock losers Wednesday included Caterpillar (CAT) -1.37% and UnitedHealth (UNH) -1.06%.

There were 21 Dow stock winners Wednesday.

Intel (INTC) announced that it has signed a definitive agreement to buy over 1,400 patents and patent applications from an affiliate of The Gores Group, which obtained the patents in the Chapter 11 bankruptcy of Powerwave Technologies.

The Labor Department reported initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 315,000 for the week ended Sept. 6, the highest level since late June. Economist had forecast claims slipping to 300,000 last week. The four-week average of claims edged up 750 to 304,000, not far from pre-recession levels and consistent with strengthening labor market conditions.

McBrunch? McDonald’s Corp. (MCD) in July filed an application to trademark the phrase “McBrunch.” The Oak Brook-based burger giant confirmed the application but offered no further details. It’s the second time McDonald’s has filed an application for the name. It filed an application in 2001, but later abandoned it.

European stocks are mixed and Asian markets ended mostly lower.

The national average price of gasoline is down six-tenths of a cent at $3.422 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings in the near term.

Notable earnings reports from Wednesday include:

Men’s Wearhouse, Inc. (MW) reported second quarter EPS of $1.10 on revenue of $803.10 million, compared to last year’s EPS of $1.01 on revenue of $647.26 million.

Restoration Hardware (RH) reported second quarter EPS of $0.67 on revenue of $433.80 million, compared to last year’s EPS of $0.49 on revenue of $382.10 million.

Vera Bradley, Inc. (VRA) reported second quarter EPS of $0.19 on revenue of $120.10 million, compared to last year’s EPS of $0.37 on revenue of $125.37 million.

Stocks reporting earnings today include:

Kroger Company (KR) is expected to report second quarter EPS of $0.69 on revenue of $24.92 billion, compared to last year’s EPS of $0.60 on revenue of $22.72 million.

lululemon athletica inc. (LULU) is expected to report second quarter EPS of $0.29 on revenue of $376.95 million, compared to last year’s EPS of $0.39 on revenue of $344.51 million.

Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) is expected to report second quarter EPS of $0.83 on revenue of $712.63 million, compared to last year’s EPS of $0.70 on revenue of $601.00 million.

Today’s Featured Dow Stock

3M Co. (MMM)

3M Co. (MMM) is up +3.13% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -2,000 to 300,000, previous +4,000 to 302,000. Weekly continuing claims expected +26,000 to 2.490 million, previous -64,000 to 2.464 million.

0830 ET USDA weekly Export Sales.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned Sep 18 (previous $15 billion).

1200 ET Sep WASDE crop production.

1300 ET Treasury auctions $13 billion 30-year T-bonds.

1400 ET Aug monthly budget statement expected -$130.00 billion, Jul -$94.59 billion.

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