DJIA Market Happenings For Thursday, November 13, 2014

Dow stocks at 52 week highs include Nike (NKE) and Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +6 points.

Wednesday, the Dow closed down -2.70 (-0.02%) at 17,612.20.

Year-to-date the Dow is up +6.25%.

There were 17 Dow stock winners Wednesday.

Dow stock winners Wednesday included Visa (V) +1.08% and Nike (NKE) +0.98%.

Dow stock losers Wednesday included JPMorgan (JPM) -1.32% and Exxon Mobil (XOM) -1.07%.

Cisco (CSCO) reported Q1 adjusted EPS of 54 cents, better than consensus of 53 cents.

Wal-Mart (WMT) shares are up in premarket trading after it reported Q3 EPS of $1.15, better than consensus of $1.12.

New claims for unemployment benefits rose more than expected last week but remained near a 14-year low. Initial claims for state unemployment benefits rose 12,000 to 290,000 for the week ended Nov. 8. Economists had forecast a smaller increase. Claims have now been below 300,000 for nine straight weeks, and in October hit their lowest level since 2000 at 266,000.

Procter & Gamble (PG) is selling Duracell to Warren Buffet’s Berkshire Hathaway in a $3 billion deal.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is down six-tenths of a cent at $2.917 per gallon. Costco here in Gig Harbor is still at $2.82 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 Wednesday include:

Cisco Systems, Inc. (CSCO) reported first quarter EPS of $0.54 on revenue of $12.20 billion, compared to last year’s EPS of $0.53 on revenue of $12.08 billion.

J C Penney Company Inc (JCP) reported a third quarter loss of $0.77 per share on revenue of $2.76 billion, compared to last year’s loss of $1.85 per share on revenue of $2.78 billion.

Macy’s, Inc. (M) reported third quarter EPS of $0.61 on revenue of $6.20 billion, compared to last year’s EPS of $0.47 on revenue of $6.28 billion.

Pinnacle Foods Inc (PF) reported third quarter EPS of $0.41 on revenue of $624.00 million, compared to last year’s EPS of $0.36 on revenue of $572.46 million.

Stocks reporting earnings today include:

Wal-Mart Stores, Inc. (WMT) is expected to report third quarter EPS of $1.12 on revenue of $118.40 billion, compared to last year’s EPS of $1.14 on revenue of $115.69 billion.

Kohl’s Corporation (KSS) is expected to report third quarter EPS of $0.75 on revenue of $4.41 billion, compared to last year’s EPS of $0.81 on revenue of $4.44 billion.

Nordstrom, Inc. (JWN) is expected to report third quarter EPS of $0.71 on revenue of $3.10 billion, compared to last year’s EPS of $0.69 on revenue of $2.88 billion.

Viacom, Inc. (VIA) is expected to report fourth quarter EPS of $1.68 on revenue of $3.90 billion, compared to last year’s EPS of $1.55 on revenue of $3.65 billion.

Today’s Featured Dow Stock

JPMorgan Chase and Co (JPM)

JPMorgan Chase and Co (JPM) is up +3.56% year-to-date.

Financial Calendar

0330 ET New York Fed President William Dudley delivers prepared remarks at the Central Bank of the United Arab Emirates in Abu Dhabi.

0830 ET Weekly initial unemployment claims expected +2,000 to 280,000, previous -10,000 to 278,000. Weekly continuing claims expected -1,000 to 2.347 million, previous -39,000 to 2.348 million.

1000 ET Sep JOLTS job openings expected 4.800 million, Aug 4.835 million.

1100 ET EIA Weekly Petroleum Status Report.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned Nov 20.

1230 ET Philadelphia Fed President Charles Plosser participates in a panel discussion at a conference called The Federal Reserve and Monetary Policy: Traditional and New Tools on What is the New Normal?

1300 ET Treasury auctions $16 billion of 30-year T-bonds.

1400 ET Oct monthly budget statement expected -$114.0 billion, Sep +$105.81 billion.

1530 ET Minneapolis Fed President Narayana Kocherlakota gives an update on monetary policy and speaks on the Bakken oil boom at Stanford University.

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