Paras Madho is a Director of the Market Watch & Corporate Actions, Global Corporate Client Group for NYSE Euronext (NYSE: NYX). In this...
Ahead of the Bell: Dow futures are trading up 62 points and S&P futures are trading up 8 points on growing optimism about corporate earnings after Apple reported second quarter earnings results that beat analysts’ estimates. The company announced record profits and surging revenues helped by strong iphones and Macs sales. Also, American Express, Travelers, and General Electric all reported higher first quarter earnings results.
DJIA up 186.79 pts/+1.52%/12,453.54
S&P up 17.74 pts/+1.35%/1,330.36
Nasdaq up 57.54 pts/+2.10%/2,802.51
Dow Futures up 62.00 pts/+0.48%
S&P Futures up 8.00 pts/+0.60%
Nasdaq Fut up 24.75 pts/+1.05%
CAC 40 +0.67%
NIKKEI 225 +0.82%
HANG SENG +1.01%
Overseas: World stock markets were up today. European and Asian markets were higher today on positive corporate earnings from the U.S.
Economic Reports: Jobless Claims expected to be 390K @ 8:30 a.m. and Philadelphia Fed Survey expected to be 36.0 & Leading indicators expected to be 0.3% @ 10:00 a.m.
Gold:up $5.65 to $1,508.85
Oil:up $0.80 to $112.40
EUR/USD 1.44638 +0.0116
USD/JPY 81.9450 -0.6000
GBP/USD 1.6564 +0.0164
Volatility Index (VIX): As of the close of business Wednesday, April 20, the VIX is down 0.76 pts to 15.07
Companies Reporting Quarterly Earnings:
GE (GE): Q1 EPS of $0.31 beats by $0.03. Revenue of $38.44B (+6.2% Y/Y) beats by $3.8B.
Travellers (TRV): Q1 EPS of $1.89 beats by $0.38. Revenue of $5.43B (+3.5% Y/Y) beats by $0.12B.
American Express (AXP): Q1 EPS of $0.97 beats by $0.04. Revenue of $7.03B beats by $50M.
Apple (AAPL): FQ2 EPS of $6.40 beats by $1.04. Revenue of $24.67B beats by $1.33B. Sees FQ3 EPS of $5.03 vs. consensus of $5.25, revenue of $23B vs. $23.8B consensus.
Morgan Stanley (MS): EPS of $0.50 beats by $0.16. Revenue of $7.6B misses by $0.16B.
Philip Morris (PM): Q1 EPS of $1.06 beats by $0.01. Revenue of $6.79B (+4.5% Y/Y) misses by $0.15B.
Southwest Airlines (LUV): Q1 EPS of $0.03 in-line. Revenue of $3.10B (+18% Y/Y) beats by $0.02B.
Astoria Financial (AF) : EPS of $0.29 beats by $0.07.
Honeywell (HON) : EPS of $0.88 beats by $0.06. Revenue of $8.9B beats by $0.30B.
Patriot Coal (PCX): Q1 EPS of -$0.17 misses by $0.04. Revenue of $577B (+23% Y/Y) beats by $24B.(
Schlumberger (SLB): Q1 EPS of $0.71 misses by $0.05. Revenue of $8.71B (+56% Y/Y) misses by $0.11B.
Weatherford International (WFT): Q1 EPS of $0.10 misses by $0.08. Revenue of $2.85B (+22% Y/Y) beats by $0.03B.
Covidien (COV): FQ2 EPS of $0.93 beats by $0.04. Revenue of $2.80B (+10% Y/Y) beats by $0.06B.
DuPont (DD): Q1 EPS of $1.52 beats by $0.16. Revenue of $10.03B (+18% Y/Y) beats by $0.84B.
Danaher (DHR): Q1 EPS of $0.65 vs consensus of $0.57. Revenue of $3.35B (+11% Y/Y) beats by $0.02B.
Air Products and Chemicals (APD): FQ2 EPS of $1.41 beats by $0.03. Revenue of $2.50B (+11% Y/Y) beats by $0.07B.
BB&T (BBT): Q1 EPS of $0.32 beats by $0.01. Revenue of $2.03B (-7% Y/Y) misses by $0.15B.
Tyco Electronics (TEL): Q1 EPS of $0.71 misses by $0.01. Revenue of $3.47B (+17% Y/Y) misses by $0.52B.
Newmont Mining (NEM): Q1 EPS of $1.04 beats by $0.05. Revenue of $2.46B (+10% Y/Y) beats by $0.02B.(
Today’s Opening and Closing Bells:
Procera Networks, Inc. (PKT) President and Chief Executive Officer James F. Brear will ring the opening bell.
Office Depot Inc. (ODP) to launch the “Green Business Challenge”. Office Depot, ICLEI, and City Officials from across the country will ring the closing bell.