DJIA Market Happenings For Tuesday, February 20, 2024 – Honeywell (HON) 197.17 Down -5.98% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 212.56 (+0.01%), Merck (MRK) 127.79 (+0.99%), Visa (V) 278.56 (-0.86%) and Walmart (WMT) 170.36 (+0.36%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -113 points.

Friday the Dow closed down -145.13 (-0.37%) at 38,627.99.

Year-to-date the Dow is up +2.49%.

Friday, (10) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Friday were led by Merck (MRK) 127.79 (+0.99%), Walmart (WMT) 170.36 (+0.63%) and Dow (DOW) 55.48 (+0.56%).

The Dow stock losers Friday were led by Nike (NKE) 103.51 (-2.40%), Amgen (AMGN) 283.70 (-1.86%) and Walgreens (WBA) 21.98 (-1.39%).

The VIX closed Friday at 14.24 (+1.64%) and the 10 YR at 4.285 (-0.23%). The VIX is currently at 15.20 (+3.33%). The 10YR is at 4.277 (-0.42%).

All three of the major indexes snapped five-week winning streaks (which includes the Dow).

Walmart (WMT) announced Tuesday that it agreed to buy TV maker Vizio for $2.3 billion, or $11.50 per share, in cash. Walmart, which has long sold Vizio TVs, is looking to boost its high-margin advertising business. The news came as the big-box retailer reported fourth-quarter earnings that beat Wall Street’s expectations. Walmart said its quarterly revenue rose 6% during the holiday season and its e-commerce sales increased 23% year over year, topping $100 billion in total.

Wholesale prices rose more than anticipated in January, according to producer price index data released Friday. That bolstered concerns over sticky inflation that were raised earlier in the week after the consumer price index came in at 3.1% from a year ago, higher than economists forecasted and well above the 2% goal of the Fed.

Home Depot (HD) slipped about 2.5% after the retailer beat its fiscal fourth quarter estimates on the top and bottom line but issued lower-than-expected guidance. The company earned $2.82 per share on revenue of $34.79 billion. Analysts expected a profit of $2.77 per share on revenue of $34.64 billion. The company forecast full-year revenue growth of 1%, while analysts expected 1.6%. Net income and sales also fell throughout the quarter.

Walmart (WMT) added about 3% after the retail giant reported fourth quarter adjusted earnings of $1.80 per share, beating the $1.65 expected. Revenue also topped expectations.

U.S. futures are lower, European stocks are mostly higher and Asian markets ended mostly lower.

The national average price of gasoline is up three-tenths of a cent at $3.276 per gallon.

Earnings Reports

Salesforce (CRM) reported earnings 11/29/23 after the close with $2.11, beating estimates of $1.512 per share.

Nike (NKE) reported earnings on 12/21/23 after the close with $1.03, beating estimates of $0.839 per share.

Walgreens (WBA) reported earnings on 1/4/24 before the open with $0.66, beating estimates of $0.656 per share.

JPMorgan (JPM) reported earnings on 1/12/24 before the open with $3.04, missing estimates of $3.726 per share.

UnitedHealth (UNH) reported earnings on 1/12/24 before the open with $6.16, beating estimates of $5.978 per share.

Goldman Sachs (GS) reported earnings on 1/16/24 before the open with $5.48, beating estimates of $3.51 per share.

Travelers (TRV) reported earnings on 1/19/24 before the open with $7.01, beating estimates of $5.038per share.

3M (MMM) reported earnings on 1/23/24 before the open with $2.42, beating estimates of $2.309 per share.

Johnson & Johnson (JNJ) reported earnings on 1/23/24 before the open with $2.29, beating estimates of $2.268 per share.

Procter & Gamble (PG) reported earnings on 1/23/24 before the open with $1.84, beating estimates of $1.703 per share.

Verizon (VZ) reported earnings on 1/23/24 before the open with $1.08, beating estimates of $1.073 per share.

IBM (IBM) reported earnings on 1/24/24 after the close with $3.87, beating estimates of $3.776 per share.

Dow (DOW) reported earnings on 1/25/24 before the open with $0.43, beating estimates of $0.397 per share.

Intel (INTC) reports earnings on 1/25/24 after the close with $0.54, beating estimates of $0.267 per share.

Visa (V) reports earnings on 1/25/24 after the close with $2.41, beating estimates of $2.334 per share.

American Express (AXP) reports earnings on 1/26/24 before the open with $2.62, beating estimates of $2.648 per share.

Microsoft (MSFT) reports earnings on 1/30/24 after the close with $2.93, beating estimates of $2.756 per share.

Boeing (BA) reports earnings on 1/31/24 before the open with -$0.47, beating estimates of $0.76 per share.

Honeywell (HON) reported earnings on 2/1/24 before the open with $2.60, beating estimates of $2.597 per share.

Merck (MRK) reported earnings on 2/1/24 before the open with $0.03, beating estimates of -$0.094 per share.

Apple (AAPL) reported earnings on 2/1/24 after the close with $2.18, beating estimates of $2.089 per share.

Chevron (CVX) reported earnings on 2/2/24 before the open with $3.45, beating estimates of $3.285 per share.

Caterpillar (CAT) reported earnings on 2/5/24 before the open with $5.23, beating estimates of $4.763 per share.

McDonald’s (MCD) reported earnings on 2/5/24 before the open with $2.95, beating estimates of $2.807 per share.

Amgen (AMGN) reported earnings on 2/6/24 after the close with $4.71, beating estimates of $4.656 per share.

Disney (DIS) reported earnings on 2/7/24 after the close with $1.22, beating estimates of $0.973 per share.

Coca Cola (KO) reported earnings on 2/13/24 before the open with $0.46, missing estimates of $0.484 per share.

Cisco (CSCO) reported earnings on 2/14/24 after the close with $0.87, beating estimates of $0.713 per share.

Home Depot (HD) reports earnings on 2/20/24 before the open.

Walmart (WMT) reported earnings on 2/20/24 before the open with $1.80, beating estimates of $1.645 per share. Walmart is also doing a 3:1 stock split on 2/26/24.

Salesforce (CRM) reports earnings on 2/28/24 after the close.

Today’s Featured Dow Stock

Honeywell (HON)

Honeywell (HON) 197.17 (-0.39%) is down -5.98% in 2024.

Financial Calendar

10:00 AM ET US Leading Index (MoM) (Jan), -0.3%, -0.1%
11:30 AM ET 3-Month Bill Auction, 5.230%
11:30 AM ET 6-Month Bill Auction, 5.065%
13:00 PM ET 52-Week Bill Auction, 4.570%

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