The Dow Market Happenings For Thursday, October 23, 2014

Dow stocks at 52 week highs include UnitedHealth (UNH), Home Depot (HD), Travelers (TRV) and Nike (NKE). Dow stock 52 week lows include International Business Machines (IBM).

The Market

Premarket today, the Dow was indicated to open up +121 points.

Wednesday, the Dow closed down -153.49 (-0.92%) at 16,461.32.

Year-to-date the Dow is down -0.70%.

There were 6 Dow stock winners Wednesday.

Dow stock winners Wednesday included Travelers (TRV) +1.42% and Johnson & Johnson (JNJ) +0.86%.

Dow stock losers Wednesday included Boeing (BA) -4.46% and American Express (AXP) -1.96%.

AT&T (T) dropped 3% in after-hours trading after it reported Q3 adjusted EPS of 63 cents, less than consensus of 64 cents, and then lowered guidance on fiscal 2014 revenue growth view to 3%-4% from 5%.

3M (MMM) reported earnings of $1.98, beating consensus of $1.96.

Caterpillar (CAT) reported earnings of $1.72, beating consensus of $1.33.

Microsoft (MSFT) reports earnings after the close. Consensus is for $0.49 per share.

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

The national average price of gasoline is down seven-tenths of a cent at $3.079 per gallon.

Earnings Reports.

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

JPMorgan (JPM) will report earnings on 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.

Procter & Gamble (PG) will report earnings on 10/24/14 before the market open.

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

Dupont (DD) will report earnings on 10/28/14 before the market open.

Pfizer (PFE) will report earnings on 10/28/14 before the market open.

Visa (V) will report earnings on 10/29/14 after the market close.

Exxon Mobil will report earnings on 10/31/14 before the market open.

Chevron (CVX) will report earnings on 10/31/14 before the market open.

Notable earnings reports from Wednesday include:

AT&T Inc. (T) reported third quarter EPS of $0.63 on revenue of $32.96 billion, compared to last year’s EPS of $0.66 on revenue of $32.16 billion.

Boeing Co (BA) reported third quarter EPS of $2.14 on revenue of $23.78 billion, compared to last year’s EPS of $1.80 on revenue of $22.13 billion.

Dow Chemical Co (DOW) reported third quarter EPS of $0.72 on revenue of $14.40 billion, compared to last year’s EPS of $0.50 on revenue of $13.73 billion.

Northrop Grumman Corporation (NOC) reported third quarter EPS of $2.26 on revenue of $5.98 billion, compared to last year’s EPS of $2.14 on revenue of $6.11 billion.

Stocks reporting earnings today include:

Microsoft Corporation (MSFT) is expected to report first quarter EPS of $0.49 on revenue of $22.02 billion, compared to last year’s EPS of $0.62 on revenue of $18.53 billion.

Amazon.com, Inc. (AMZN) is expected to report a third quarter loss of $0.73 on revenue of $20.84 billion, compared to last year’s EPS of $0.09 on revenue of $17.09 billion.

Comcast Corporation (CMCSA) is expected to report third quarter EPS of $0.71 on revenue of $16.82 billion, compared to last year’s EPS of $0.65 on revenue of $16.15 billion.

General Motors Company (GM) is expected to report third quarter EPS of $0.95 on revenue of $39.52 billion, compared to last year’s EPS of $0.96 on revenue of $38.98billion.

Today’s Featured Dow Stock

3M Co. (MMM)

3M Co. (MMM) is down -0.93% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +17,000 to 281,000, previous -23,000 to 264,000. Weekly continuing claims expected -9,000 to 2.380 million, previous +7,000 to 2.389 million.

0830 ET Sep Chicago Fed national activity index expected +0.36 to 0.15, Aug -0.21.

0830 ET USDA weekly Export Sales.

0900 ET Aug FHFA house price index expected +0.3% m/m, Jul +0.1% m/m.

0945 ET Preliminary Oct Markit manufacturing PMI expected -0.5 to 57.0, Sep -0.4 to 57.5.

1000 ET Sep leading indicators expected +0.7%, Aug +0.2%.

1100 ET Oct Kansas City Fed manufacturing activity index expected unchanged at 6, Sep +3 to 6.

1100 ET Treasury announces amount of 2-year T-notes (previous $29 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Oct 28-30.

1300 ET Treasury auctions $7 billion 30-year TIPS.

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