24Jan

Stock index futures point to lower

Posted by admin as News, Stock

* Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 2.1-2.4 percent, pointing to a sharply lower start on Wall Street.
* General Electric is due to report fourth-quarter earnings, closing out a brutal year that saw its shares lose more than half their value. The market is braced for a 25 percent drop in profit, with the U.S. conglomerate’s finance arm proving the main drag.
GE shares in Frankfurt rose 2.8 percent.
* Xerox reports quarterly results in an environment where corporations are scaling back on orders, and rivals like Oce and Lexmark are cutting jobs and seeing profits shrink. Analysts expect the company to earn 33 cents per share, down from 41 cents a year earlier, according to Reuters Estimates.

* World-leading oilfield services company Schlumberger unveils fourth-quarter earnings, which will be closely watched for hints on how long the downturn will last in North America and international markets. The market expects the company to earn $1.06 per share, down from $1.11 a year earlier, according to Reuters Estimates.
* Harley-Davidson reports earnings. Analysts expect the company to earn 57 cents per share, down from 78 cents a year earlier, according to Reuters Estimates. * Shares of Google rose 2.2 percent to $313.21, or more than $6, after the bell on Thursday following the company’s fourth-quarter and full-year earnings report. Google shares in Frankfurt advanced 1.8 percent.
* Advanced Micro Devices slipped 2.5 percent to $1.97 after the bell on Thursday following the computer chipmaker’s fourth-quarter results.
* Shares of diversified U.S. chipmaker Marvell Technology Group Ltd fell 3.4 percent to $6 after the bell on Thursday following the company’s revision of its fourth-quarter 2009 outlook. Marvell now estimates its quarterly revenue will be between $500 million to $520 million. (Reporting by Atul Prakash; Editing by Rupert Winchester)

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