There was one economic release this morning which was positive for stocks. However, economic bellwether FedEx (NYSE:FDX) reported an earnings outlook that worried the market. The overnight-shipper slashed its earnings forecast for 2013, as the weakening economy is leading customers to use cheaper shipping options.
The National Association of Home Builders housing-market index rose three points from August to 40 -- its highest level since June 2006! The reading was above analysts' expectations of a reading of 38. Still, both of these are below 50, which indicates positive conditions.
The markets as a whole are relatively unchanged, though a few stocks are pushing the Dow higher.
Today's Dow leaders
Today's Dow leader is Kraft (NASDAQ:KRFT), up 1.36% ($0.54) to $40.23 The company is splitting up its business next month. The stock has been down recently, as the post-split earnings guidance for the companies were below analyst expectations. There was some big news recently: Because of the split, Kraft will no longer be a Dow stock and is being replaced by UnitedHealth Group. Fool analysts Catherine Baab-Muguira and Isaac Pino recently discussed the company and why investors are enamored of it.
Second for the day is Coca-Cola (NYSE:KO) up 0.92% ($0.35) to $38.70. Coke announced today it is launching Dasani Drops, a water flavor enhancer to compete with Kraft's MiO. After a bad August for the stock, Coke is having a much better September, up 3.47% month to date. Last week the company announced it would restructure its operations in Southwest Asia and give more attention to India in particular. Coca-Cola is such a strong business that Warren Buffett famously said that a ham sandwich could run it. Click here to read more.
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Dan Dzombak can be found on his Facebook page, he holds no position in any company mentioned. Click here and like his Facebook page to follow his investing articles. The Motley Fool owns shares of Coca-Cola. Motley Fool newsletter services have recommended buying shares of UnitedHealth Group, Coca-Cola, and FedEx. Motley Fool newsletter services have recommended creating a diagonal call position in UnitedHealth Group. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.