The Dow Market Happenings For Wednesday, November 12, 2014

Dow stocks at 52 week highs include 3M (MMM), Johnson & Johnson (JNJ), Goldman Sachs (GS), Nike (NKE) Travelers (TRV) and Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -71 points.

Tuesday, the Dow closed up +1.16 (+0.01%) at 17,614.90.

Year-to-date the Dow is up +6.26%.

There were 14 Dow stock winners Tuesday.

Dow stock winners Tuesday included UnitedHealth (UNH) +0.99% and Merck (RK) +0.95%.

Dow stock losers Tuesday included JPMorgan (JPM) -0.90% and American Express (AXP) -0.71%.

Cisco (CSCO) was unchanged Tuesday.

Cisco System (CSCO) will report after the close.

JPMorgan Chase (JPM) was downgraded to ‘Market Perform’ from ‘Outperform’ at Bernstein.

A Federal probe into the role big banks played in a forex manipulation scheme resulted in huge fines for several big banks. including JPMorgan Chase & Co. ( JPM).

Wal-Mart Stores, Inc. (WMT) is setting itself apart this year by spreading its “Black Friday” sales over a period of five days. The discount chain is also planning to offer deeply discounted products online to cater to those who are not interested in braving the crowds.

Oil prices are declining and now trading well below $78 per barrel.

European stocks are lower and Asian markets ended mostly higher.

The national average price of gasoline is down three-tenths of a cent at $2.923 per gallon.

Earnings Reports.

Cisco (CSCO) will report earnings on 11/12/14 after the market close.

Wal-Mart (WMT) will report earnings on 11/13/14 before the market open.

Home Depot (HD) will report earnings on 11/18/14 before the market open.

Notable earnings reports from Tuesday include:

AECOM Technology Corp (ACM) reported fourth quarter EPS of $0.79 on revenue of $2.56 billion, compared to last year’s EPS of $0.77 on revenue of $2.08 billion.

CST Brands Inc (CST) reported third quarter EPS of $0.90 on revenue of $3.22 billion, compared to last year’s EPS of $0.57 on revenue of $3.32 billion.

D.R. Horton, Inc. (DHI) reported fourth quarter EPS of $0.45 on revenue of $2.40 billion, compared to last year’s EPS of $0.40 on revenue of $1.80 billion.

Fossil Group Inc (FOSL) reported third quarter EPS of $1.96 on revenue of $894.50 million, compared to last year’s EPS of $1.58 on revenue of $810.40 million.

Stocks reporting earnings today include:

Cisco Systems, Inc. (CSCO) is expected to report first quarter EPS of $0.53 on revenue of $12.16 billion, compared to last year’s EPS of $0.53 on revenue of $12.08 billion.

J C Penney Company Inc (JCP) is expected to report a third quarter loss of $0.80 per share on revenue of $2.81 billion, compared to last year’s loss of $1.85 per share on revenue of $2.78 billion.

Macy’s, Inc. (M) is expected to report third quarter EPS of $0.50 on revenue of $6.34 billion, compared to last year’s EPS of $0.47 on revenue of $6.28 billion.

Pinnacle Foods Inc (PF) is expected to report third quarter EPS of $0.41 on revenue of $620.20 million, compared to last year’s EPS of $0.36 on revenue of $572.46 million.

Today’s Featured Dow Stock

Johnson & Johnson. (JNJ)

Johnson & Johnson. (JNJ) is down -12.84% year-to-date.

Financial Calendar

0300 ET Philadelphia Fed President Charles Plosser gives keynote speech at the UBS AG European Conference in London.

0700 ET Weekly MBA mortgage applications, previous -2.6% with purchase sub-index +2.6% and refi sub-index -5.5%.

1000 ET Sep wholesale inventories expected +0.2% m/m, Aug +0.7% m/m. Sep wholesale trade sales expected -0.1%, Aug -0.7% m/m.

1200 ET Minneapolis Fed President Narayana Kocherlakota delivers a speech titled Clarifying the Objectives of Monetary Policy at an event in Eau Claire, WI.

1300 ET Treasury auctions $24 billion of 10-year T-notes.

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