Futures Firm on IBM, Texas Instruments Earnings
Futures Firm on IBM, Texas Instruments EarningsFutures Firm on IBM, Texas Instruments Earnings
By A. Teymour Golsorkhi
Staff Reporter
10/19/2004 9:14 AM EDT
Updated from 6:56 a.m. EDT
Stocks were set to rise at the open as traders took a positive view of earnings from IBM (IBM:NYSE - commentary - research) and Texas Instruments (TXN:NYSE - commentary - research) and a host of other companies.
Index futures recently showed the S&P 500 trading about 3 points above fair value, while the Nasdaq 100 was set for a 7-point jump. The 10-year Treasury note was down 11/32 in price to yield 4.08%, while the dollar was lower against the yen and euro.
Crude futures continued the decline they began after crossing over $55 a barrel early Monday, recently trading down 89 cents to $52.78. Among catalysts was a prediction from OPEC that worldwide oil consumption will rise by 1.6 million barrels a day next year -- a lot, but less than it predicted a month ago.
IBM shares gained more than 2% in after-hours trading Monday. The Armonk, N.Y. tech titan said third-quarter earnings rose 4% from a year ago to $1.8 billion, or $1.06 a share, including a $320 million charge to settle a pension lawsuit. Before the item, IBM earned $1.17 a share, beating the Thomson First Call consensus by 3 cents.
SEO Services
Search Engine Optimization
Herbal Body Wraps
Cash Advance
Payday Loans
SEO Company
0 Comments:
Post a Comment
<< Home