⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

US STOCKS-Futures flat as earnings eyed

Published 04/19/2011, 07:20 AM
Updated 04/19/2011, 07:24 AM
NDX
-
US500
-
DJI
-
C
-
INTC
-
AABA
-
BRBY
-
CSX
-
GC
-
STX
-

* Texas Instruments issues sales warning

* Goldman Sachs earnings on deck

* Futures: Dow up 8 pts, S&P up 0.1 pt, Nasdaq off 2 pts

By Chuck Mikolajczak

NEW YORK, April 19 (Reuters) - U.S. stock index futures were flat on Tuesday as investors digested the latest round of corporate profits.

* Texas Instruments Inc fell 2.3 percent to $34 in premarket trading after the chip maker warned of slower-than-usual quarterly sales growth. As Texas Instruments scrambles to restart production after Japan's earthquake, the company said it was unclear when the supply of the silicon and wafers it needs will return to normal.

* Goldman Sachs is expected to report sharply lower quarterly earnings due to weak trading and a charge for buying back preferred stock from Warren Buffett's Berkshire Hathaway. Analysts surveyed by Thomson Reuters on average expect Goldman to post first-quarter earnings of 82 cents per share, down from $5.59 a year earlier.

* Bank of New York Mellon, one of the world's largest custody banks, said first-quarter profit rose 4 percent, helped by an increase in assets under custody and fee revenue.

* Companies scheduled to report quarterly results on Tuesday include Intel Corp, International Business Machines Corp, Johnson & Johnson, Yahoo Inc and CSX Corp.

* S&P 500 futures added 0.1 point and were slightly above value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 8 points and Nasdaq 100 futures fell 2 points.

* Economic indicators on tap include March housing starts at 8:30 a.m..

* Seagate Technology Plc posted a third-quarter profit below market expectations on lower hard-drive shipments and also announced a deal to buy Samsung Electronics Co's hard disk business for $1.4 billion in cash and stock.

* Citigroup Inc said it has been selling a $12.7 billion portfolio of toxic assets that led to some of its losses during the financial crisis, in a bid to mitigate the impact of new global capital rules for banks.

* Research In Motion's PlayBook, the long-awaited response to Apple's iPad, goes on sale in the United States and Canada on Tuesday. RIM hopes the product will win over consumers.

* European shares rallied as fund managers said strong earnings would support markets in the short term, overshadowing economic risks, with LVMH and Burberry results' beating forecasts.

* Asian stocks slid, falling further from a three-year high hit last week as investors took profits on risks of a Greek debt restructuring in Europe and the long-term threat of a U.S. government debt downgrade.

* Wall Street fell more than 1 percent on Monday as sovereign debt fears on both sides of the Atlantic and China's monetary tightening hurt the outlook for global economic growth. (Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.