Option Investor
Market Updates

Stock futures higher ahead of earnings

HAVING TROUBLE PRINTING?
Printer friendly version

With earnings season just beginning to ramp up, stock futures are on solid ground this morning and indicating a higher open. S&P 500 futures are up 5 points to 1,097, NASDAQ futures higher by 16 points to 1,405 and Dow futures are up 39 points to 9,385. Fair value for the S&P 500 is $2.52. HL Camp & Company has their computers set for program buying at $3.80 and set for programs selling at $0.98. Fair value for the NASDAQ-100 today is $5.42.

Technology bellwethers set to report

Two technology heavyweights are set to report earnings after today's close of trading with IBM (NYSE:IBM) and Intel Corp. (NASDAQ:INTC) reporting earnings after the bell. The average estimate for IBM has analysts looking for the company to report 90 cents a share for the latest quarter, which would be 18 cents less than year ago quarterly earnings of $1.08. Analysts are looking for Intel (INTC) to reporter quarterly earnings of 10 cents a share.

Already reported

Already this morning, traders and investors have been overwhelmed with earnings. American Standard (NYSE:ASD) reported earnings inline with expectations of $1.23, AmSouth Banc (NYSE:ASO) met estimates of $0.37, Biogen (NASDAQ:BGEN) beat estimates of $0.44 by earning $0.49, but Caterpillar (NYSE:CAT) fell short of analysts estimates of $0.62 with earnings of $0.59.

Other notables this morning have Charles Schwab (NYSE:SCH) beating estimates by a penny at $0.06, Johnson & Johnson (NYSE:JNJ) beating estimates by 2 pennies at $0.50 and Maytag (NYSE:MYG) reporting quarterly earnings of $0.45, which was better than analyst's estimates of $0.42.

Jeff Bailey
Senior Market Technician
Option Investor

Intraday Update Archives