The Dow and the S&P 500 are both coming off record closes, after a session that saw the Dow break 15,000 for the first time while the S&P 500 was making its first foray over 1,600. The Nasdaq Composite is coming off its highest close since November 7, 2000, but still sits 33 percent below its record close from March, 2000.
Investors will get a breather from economic reports today, with a relatively light week ahead. Thursday morning's weekly jobless claims report is one of the few of significance out this week.
The pace of earnings season slows considerably this week as well after a busy two weeks. Sysco Corp. (SYY) and Tyson Foods (TSN) are among the companies releasing quarterly numbers this morning, while Anadarko Petroleum (APC), FirstSolar (FLSR), and Vornado Realty Trust (VNO) will be out with their earnings reports after today's closing bell.
Berkshire Hathaway (BRKA, BRKB) leads our list of stocks to watch, following its late Friday earnings report and the high profile annual meeting in Omaha over the weekend. Berkshire earned $2,302.00 per share for the first quarter,above estimates of $1,995.50, while revenues beat estimates as well. Berkshire's Warren Buffett will be on Squawk Box for all three hours this morning from 6 a.m. to 9 a.m. ET.
Pfizer(PFE) plans to begin selling its best-selling erectile dysfunction drug Viagra online, according to the Associated Press. A prescription will still be required, but the move is seen as a significant disruption to the industry's current distribution model.
BMC Software (BMCS) is close to a deal to be bought by a private equity group led by Bain Capital and Golden Gate Capital, according to Reuters. The deal is said to be worth about $46 per share, or a total of more than $6.5 billion.
JPMorganChase (JPM) shareholders are being urged by proxy advisory firm ISS to reject three board members up for re-election. ISS told shareholders that directors David Cote, James Crown, and Ellen Flutter should not be returned to the board because of "material failures of stewardship and risk oversight".
Toyota (TM) profits are expected to come in at $13.1 billion for the fiscal year that ended in march, according to the Nikkei business daily. That would be more than 3-1/2 times the prior year's profit.
Caterpillar(CAT) shares appear "cheap", according to an article in this week's Barron's. The paper says the construction equipment maker will benefit from the ongoing economic recovery.
Macerich(MAC) will replace Coventry Health Care (CVH) in the S&P 500 after the close of trading Wednesday. Coventry is in the process of being acquired by Aetna (AET) and the deal is expected to be completed this week.