Investing
10 Key DJIA Events This Week: Earnings, Meetings, Dividend
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This week should mark the climax of first quarter corporate earnings season. It will be a full week for the earnings calendar, along with key economic events and some corporate annual meetings to boot. 24/7 Wall St. wanted to preview the key DJIA and former DJIA stocks set to report earnings this week. We have also included some annual shareholder meeting information as well for DJIA stocks. The first group will be the earnings front and the rest will be annual meetings and special events.
Estimates come from Thomson Reuters and we have added color on each if applicable.
Pfizer Co. (NYSE: PFE) is set to report earnings Tuesday April 30. The drug giant is in the DJIA and is expected to report earnings of $0.56 EPS and $14.0 billion in revenue. Pfizer is within about 2% of a 52-week and multi-year high with a $219 billion market cap.
Merck & Co. Inc. (NYSE: MRK) reports earnings on Wednesday May 1 and shares are within about 2% of multi-year highs. Merck is in the DJIA and earnings are expected to be $0.79 EPS and $11.09 billion in revenue.
Kraft Foods Inc. (NASDAQ: KRFT) is the most recently booted of the former DJIA stocks, but that was due to the split-up of the company to form Mondelez and Kraft as separate companies. We are not giving historic comparisons as analysts are generally very slow to smooth out spin-off data for a couple or few quarters. Estimates are $0.64 EPS on $4.49 billion in revenue.
American International Group Inc. (NYSE: AIG) is a former DJIA stock as well and it is set to report earnings on Thursday, May 2. Earnings are expected to be $0.87 EPS and $8.64 billion in revenue. AIG is within about 3.5% of multi-year post-bailout highs. As a reminder, Uncle Sam owns no more shares and has no more official oversight of AIG’s daily operations outside of tight regulatory monitoring that should be expected for years.
General Motors Co. (NYSE: GM) is another former DJIA component which is listed twice here today but it reports on Thursday, May 2. The big question is whether or not Uncle Sam and the Treasury will sell many more millions of shares as we have been led to believe in recent weeks. GM is expected to report earnings at $0.54 EPS on $36.6 billion in revenue. Expect Europe to remain a huge drag here. Amazingly enough, GM is within 0.5% of a 52-week high now.
On Thursday, May 2 we get International Paper (NYSE: IP) earnings. This is a former DJIA stock that is often forgotten about from the past, but it still has a $20.8 billion market cap. Its earnings are expected to be $0.74 EPS and $7.05 billion in revenue. Shares are about 3% short of a 52-week high.
American Express Co. (NYSE: AXP) is holding its annual meeting on Monday, April 29, 2013. The news we have seen so far is that a vote proposed to split the role of chairman and CEO has failed.
Other DJIA Issues To Watch:
General Motors Company (NYSE: GM) and Ford Motor Co. (NYSE: F) are both former DJIA components and are both set to release April auto sales on Wednesday May 1. Again, GM reports earnings the following day. Ford has already released its earnings.
E. I. du Pont de Nemours and Company (NYSE: DD) is set to have its annual investor meeting on Thursday, May 2. DuPont shares are literally a few cents off of new 52-week highs.
International Business Machines Corporation (NYSE: IBM) has yet to confirm this expected dividend hike we have been waiting for. We named it among the other three dividend hikes of the DJIA stocks expected in April and we expect the company to be aggressive on the dividend front. A hike of only a few percent will not give us much satisfaction because IBM has no organic growth and the company’s dividend yield of 1.7% is pretty pathetic considering the yield of other DJIA and even against DJIA technology stocks.
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