The Dow Market Happenings For Wednesday, October 15, 2014

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include Chevron (CVX).

The Market

Premarket today, the Dow was indicated to open down -140 points.

Monday, the Dow closed down -5.88 (-0.04%) at 16,315.19.

Year-to-date the Dow is down -1.58%.

There were 17 Dow stock winners Tuesday.

Dow stock losers Monday included Johnson & Johnson (JNJ) -2.13% and Chevron (CVX) -2.01%.

Dow stock winners Tuesday included Boeing (BA) +1.53% and Caterpillar (CAT) +1.22%.

Intel (INTC) was up 3% in after-hours trade after it reported Q3 EPS of 66 cents, higher than consensus of 65 cents, and said it sees Q4 revenue of $14.7 billion, plus or minus $500 million, which is better than consensus of $14.49 billion.

Intel (INTC) was downgraded to ‘Underweight’ from ‘Equal Weight’ at Morgan Stanley.

JPMorgan Chase (JPM) was upgraded to ‘Buy’ from ‘Hold’ at Argus with a price target of $65.

Bank of America (BAC) reported Q3 EPS of 40 cents, higher than consensus of 32 cents.

European stocks are mostly lower and Asian markets ended mostly higher.

The national average price of gasoline is down nine-tenths of a cent at $3.177 per gallon.

Earnings Reports.

Johnson & Johnson (JNJ) will report earnings om 10/14/14 before the market open.

JPMorgan (JPM) will report earnings om 10/14/14 before the market open.

Intel (INTC) will report earnings on 10/14/14 after the market close.

American Express (AXP) reports earnings on 10/15/14 after the market close.

Goldman Sachs (GS) will report earnings on 10/16/14 before the market open.

United Health (UNH) will report earnings on 10/16/14 before the market open.

International Business Machines (IBM) will report earnings on 10/16/14 after the market close.

General Electric (GE) will report earnings on 10/17/14 before the market open.

Coca Cola (KO) will report earnings on 10/21/14 before the market open.

McDonald’s (MCD) will report earnings on 10/21/14 before the market open.

Travelers (TRV) will report earnings on 10/21/14 before the market open.

United Technologies (UTX) will report earnings on 10/21/14 before the market open.

Verizon (VZ) will report earnings on 10/21/14 before the market open.

Boeing will report earnings on 10/22/14 before the market open.

AT&T (T) will report earnings on 10/22/14 after the market close.

3M (MMM) will report earnings on 10/23/14 before the market open.

Caterpillar (CAT) will report earnings on 10/23/14 before the market open.

Microsoft (MSFT) will report earnings on 10/23/14 after the market close.

Merck (MRK will report earnings on 10/27/14 before the market open.

Notable earnings reports from Tuesday include:

Intel Corporation (INTC) reported third quarter EPS of $0.66 on revenue of $14.60 billion, compared to last year’s EPS of $0.58 on revenue of $13.48 billion.

JPMorgan Chase & Co. (JPM) reported third quarter EPS of $1.36 on revenue of $24.25 billion, compared to last year’s loss of $0.17 on revenue of $23.88 billion.

Citigroup Inc (C) reported third quarter EPS of $1.15 on revenue of $19.98 billion, compared to last year’s EPS of $1.00 on revenue of $18.22 billion.

CSX Corporation (CSX)reported third quarter EPS of $0.51 on revenue of $3.20 billion, compared to last year’s EPS of $0.46 on revenue of $3.00 billion.

Stocks reporting earnings today include:

Bank of America Corp (BAC) is expected to report a third quarter loss of $0.09 on revenue of $21.36 billion, compared to last year’s loss of $0.20 on revenue of $21.53 billion.

eBay Inc (EBAY) is expected to report third quarter EPS of $0.67 on revenue of $4.37 billion, compared to last year’s EPS of $0.64 on revenue of $3.89 billion.

Netflix, Inc. (NFLX) is expected to report third quarter EPS of $0.93 on revenue of $1.41 billion, compared to last year’s EPS of $0.52 on revenue of $1.11 billion.

PNC Financial Services Group Inc (PNC) is expected to report third quarter EPS of $1.71 on revenue of $3.80 billion, compared to last year’s EPS of $1.79 on revenue of $3.92 billion.

Today’s Featured Dow Stock

United Technologies Corp. (UTX)

United Technologies Corp. (UTX) is down -12.02% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +3.8% with purchase sub-index +2.4% and refi sub-index +5.0%.

0830 ET Sep retail sales expected -0.2% and +0.2% ex autos, Aug +0.6% and +0.3% ex autos.

0830 ET Oct Empire manufacturing index expected -6.84 to 20.70, Sep +12.85 to 27.54.

0830 ET Sep PPI final demand expected +0.1% m/m and +1.8% y/y, Aug unch m/m and +1.8% y/y. Sep PPI final demand ex food & energy expected +0.1% m/m and +1.7% y/y, Aug +0.1% m/m and +1.8% y/y.

1000 ET Aug business inventories expected +0.4%, Jul +0.4%.

1400 ET Fed Beige Book.

1400 ET Sep monthly budget statement expected $86 billion, previous $75.1 billion.

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