Before the bell: Stock futures higher as earnings mostly top estimates
Filed under: Company News, Economy, Investing, Earnings
U.S. stock futures edged higher Tuesday morning, indicating stocks are poised for a mildly positive open. This comes a day after U.S. markets set new 2009 highs and following solid results from Apple and Texas Instruments late Monday. Tuesday, investors will watch for a flood of earnings from such heavyweights as Coca-Cola, Pfizer and DuPont. In addition, some economic releases are scheduled for this morning, including inflation and housing data.
Apple (AAPL) late Monday reported sales and profit that trounced estimates, sending its shares to all-time highs. Texas Instruments (TXN) shares, too, rose after the chip maker posted better-than-forecast earnings guidance.
Caterpillar (CAT), DuPont (DD), Coca-Cola (KO), Pfizer (PFE) and United Technologies (UTX) are among the companies scheduled to report earnings this morning, with some already delivering generally better-than-expected results. DuPont's profit rose, topping estimates, Pfizer also reported higher earnings despite lower sales and beat analysts' projections, while United Tech profit fell. Yahoo (YHOO) is one of the companies reporting after the close.
Two main economic releases are due out today:
- At 8:30 a.m. Eastern, September housing starts and building permits will be reported, with both expected to show a continued positive trend with higher permits and starts than previous reports.
- At the same time, September producer price index will be released. Inflation at the wholesale level is expected to remain flat, while economists expect core PPI, which excludes the often volatile food and energy prices, to have risen 0.1 percent, according to Briefing.com.
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Reader Comments (Page 1 of 1)
10-20-2009 @ 8:24AM
pat ruddy said...
Its time to change our stock system, too many are rippng us off and making off with millions.
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10-20-2009 @ 9:11AM
Mike said...
"earnings mostly top estimates"
But of course they do. Hang on, this illusion of recovery will begin to dissipate in '10. When reality sets in, that flooding the markets with printed money is NOT a recovery...it's going to get ugly.
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10-20-2009 @ 9:26AM
Thor_Of_Asgard said...
Everybody wants to be an "investor" to be cool and "in" the stock market is not a bank it is more like gambling you either win big or loose big, Only put what you can afford to loose in the stock market and the money is not money until it is in the bank
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10-20-2009 @ 9:35AM
jeff said...
If the other earning reports are this good get ready to rally! but you have AOL with a headline Is the Market RAISE A HOAX of course from some source you cannot comment on!! the only HOAX is all these stories written by people who dont know anything about the market and who refuse to call for the measures that will fix the market ... making Hedge funds and energy futures ILLEGAL!! While you are at it get rid of the BIG BANK owned FED!! The DOW will be at 10,500 by weeks end!! After that rebalance to 60% stocks and 40% stable investments like CDs, ginnie may, Bonds since you should never put all your eggs in one basket because you may drop it and break them all!!
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10-20-2009 @ 9:31AM
lpi2007 said...
Today the stocks will go up because, my girlfriend has gas and we're smelting it so your car can run off of it. She has a bad tummy ache so free gas for anyone who wants it. IF THIS DOESN'T MAKE STICKS GO UP, NOTHING WILL. Louisville Paranormal Investigations Check out our site
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10-20-2009 @ 1:56PM
Mike said...
You smelt ore, not gas. And, I don't know if your girlfriend can make "sticks" go up or not - send me a picture of her and I'll tell you if my stick goes up.
10-20-2009 @ 9:34AM
Paul said...
Again today we will see the Government and Wall streets Number Twiddlers in action. That does Not mean everything is well. Any Investor who thinks these are Real earnings and not Layoffs and Number Twiddling, is absolutely Nuts or maybe needs to go back to Economics- 101. Banks are still playing numbers with Bailout Money and reporting that as Profit. Also, What we will see today is More Number Twiddling in the Stock market These numbers are Not real as there is absolutely Nothing to support them. Soon the Price of Number Twiddling Will Come Due and when it does America Will Fall into the Worst Depression and Panic Far Greater than 1930s. I urge Everyone to Call your Congress and Demand they Stop doing this twiddling or Lose their Jobs next November . As a Direct result of all of these Government " Bailouts " and Number Twiddling here is the Future Problem that Will Hit Us All by next year ; These so called " Bailout " and " Stimulus " Packages will produce only Minimal results and will Not work as planned. But, it is Going to Raise both Income and Property Taxes by up to 42 Percent across the Pay Scale by end of next year. Those who are below the Tax bracket will find they Too Will Be Taxed. Despite what they tell you on TV, that is the Word. Insurance Rates are also set to rise Big as well as inflation in Food, Energy and Healthcare. The Dollar Will Become Worthless. Yes the economy could very well become a Panic Like Germanys in the 1920s'. All of this Has to happen for this Worthless Playmoney Injection to have any value at All. With the Trillions theyre Printing and Spending on Bailouts along with Bogus Unsupported Numbers, the Economy Cannot Help but slide into a Panic that No one will be able to stop. Just do the Math
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10-20-2009 @ 11:04AM
Hank said...
The little guy gotta take the fall..The big boys are running out of time
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