Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Dow May Slip as Costco Wholesale Corporation (COST) Beats the Street: Raven Industries, Inc. (RAVN), Yum! Brands, Inc. (NYSE:YUM)

LONDON — After closing at a fifth consecutive record high on Monday, the Dow Jones Industrial Average (INDEXDJX:.DJI) may retreat slightly and open down by 0.2% this morning, according to stock index futures. Meanwhile, the S&P 500 (INDEXSP:.INX) may open 0.21% lower. The CNN Fear & Greed Index has returned to “extreme greed” after closing above 80 for the last two days, signaling a renewed uplift in investor sentiment.

Highlights of today’s economic calendar include the NFIB small-business confidence index for February, which ticked up 1.9 points to 90.8. Though an improvement, the increase only puts the index around the 2008 average. At 2 p.m. EDT, February’s federal budget is due.

Costco Wholesale Corporation (COST)

Meanwhile, Costco Wholesale Corporation (NASDAQ:COST) kicked off today’s corporate reports with a surprise 18% beat on its second quarter earnings, which came in at $1.24 per share on revenue of $24.3 billion, beating analysts’ expectations of $1.06 per share. Other companies due to report before the markets open include Raven Industries, Inc. (NASDAQ:RAVN), The Bon-Ton Stores, Inc. (NASDAQ:BONT), Stage Stores Inc (NYSE:SSI), and Keryx Biopharmaceuticals (NASDAQ:KERX).

Stocks that may be actively traded when markets open include The Boeing Company (NYSE:BA) after Ireland’s Independent newspaper reported that Irish airline Ryanair may have signed a deal to buy 200 aircraft from Boeing. Yum! Brands, Inc. (NYSE:YUM) may also rise after gaining 5.5% in premarket trading following an update from the company indicating that same-store sales in China fell by 20% in the first quarter — less than the 25% forecast by analysts.

European markets
In Europe, markets were largely unchanged, with investors digesting the news that U.K. industrial output fell by 1.2% in January, increasing the likelihood of a triple-dip recession. U.K. GDP fell in the last quarter of 2012, and today’s news pushed the pound down half a cent to a new low of $1.485 against the dollar. Also in focus was a fall in German inflation, which dropped to 1.5% in February from 1.7% the previous month. The combination of these factors has helped to raise investors’ hopes that the Bank of England and European Central Bank may now consider further stimulus measures.

At 8 a.m. EDT, European markets were flat: The DAX was down 0.09%, the CAC 40 was up 0.08%, the FTSE MIB was down 0.04%, and the IBEX 35 was down 0.05%. In London, the FTSE 100 was up 0.05%, led by copper miner Antofagasta , which gained 5% after announcing a special dividend payment that doubles its total dividend for 2012. Antofagasta’s revenue also came in above expectations after the company achieved record production levels that overcame the effects of weaker copper prices.

The article Dow May Slip as Costco Beats the Street originally appeared on Fool.com.

Roland Head does not own shares in any of the companies mentioned in this article. The Motley Fool owns shares of Costco Wholesale. Motley Fool newsletter services have recommended buying shares of Costco Wholesale.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Loading Comments...