Why the Dow Is Down This Morning
The Dow Jones Industrial Average (INDEX: ^DJI) is falling for the second day in a row as Europe failed to make much headway on the Greek debt talks and as five Dow components reported earnings. At 10 a.m. EST, the Dow was down 80 points to 12,629.
McDonald's (NYS: MCD) reported strong earnings this morning. Earnings per share were up 15% to $1.33, above analyst expectations of $1.30 per share. Revenue was $6.82 billion, slightly above analyst expectations of $6.81 billion. However, in early trading McDonald's is down 1.7%.
DuPont (NYS: DD) reported mild earnings before the market opened, with earnings basically flat at $0.40 per share, $0.35 excluding special items. This was above analysts' expectation of $0.33 per share; revenue was $8.77 billion versus expectations of $8.5 billion. In early trading, DuPont is down 0.9%.
Johnson & Johnson's (NYS: JNJ) earnings were down 89% to $0.08 per share. However, excluding one-time items, earnings per share would have been $1.13, above analysts' expectations of $1.09. Revenue was $16.3 billion, slightly above analyst expectations of $16.27 billion. The stock is up 0.3% in early trading.
Travelers' earnings were $1.51 per share, below analyst expectations of $1.53. Revenue was $6.4 billion, above analyst expectations of $5.47 billion. Shares were down 2.1% in early trading
Verizon (NYS: VZ) reported a loss of $0.71 per share. Excluding $1.20 of severance, pension, and benefit costs, EPS were $0.51, slightly below analyst expectations of $0.53. Revenue was up nearly 8% to $28.4 billion, in line with expectations. Verizon is down 2.1% in early trading.
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At the time this article was published Dan Dzombak holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Johnson & Johnson. Motley Fool newsletter services have recommended buying shares of McDonald's and Johnson & Johnson; and creating a diagonal call position in Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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