Last night's disappointing earnings and guidance of chipmaker Texas Instruments (NYSE:TXN) finds the stock falling below last night's lows to the $13.45 level and weighing on stock futures this morning.
Also showing weakness this morning in the chip sector is Taiwan Semiconductor (NYSE:TSM) $7.48, which is lower by 4.4% at $7.15 after the world's foundry leader failed to meet analyst's estimates for its third quarter.
Shares of video game maker THQ Inc. (NASDAQ:THQI) are plummeting -36% to $14.75 and are the most actively traded stock in pre- market, after reporting third-quarter earnings that met expectations, but expressed caution about results for the holiday season.
The cautious comments from THQ Inc. (THQI) has USB Piper Jaffray downgrading THQI to "outperform" from "strong buy," while also cutting its rating on Activision (NASDAQ:ATVI), which is falling 18% to $19.55, and Take-Two Interactive (NASDAQ:TTWO), which is dropping 9.2% to $25.10 in pre-market action.
On a positive note, HMO bellwether Oxford Health (NYSE:OHP) $44.82 preannounced Q3 outlook of $1.24 per share, which was well above consensus of $1.00 EPS. However, results include a gain of $0.20 per share from changes in estimates of prior period charges. Considering most analysts factor out one-time charges/gains, OHP looks to be guiding higher by $0.04 EPS.
Telecom service giant and Dow component AT&T (NYSE:T) $12.53 reported earnings per share of $0.06, which was a penny better than expected.
S&P futures (sp02z) are currently trading down 10.8 points at 887.90. NASDAQ futures (nd02z) are lower by 24 points at 956 and Dow futures (dj02z) are off 85 points at 8,430.
Fair value for the S&P 500 today is $0.33. That price will not change during the session. HL Camp & Company has their computers set for program buying at $1.40 and set for program selling at $-1.58. Fair value for the NASDAQ-100 today is $2.50.
Treasuries are seeing modes selling in the 5, 10, and 30-year maturities this morning, with the benchmark 10-year Note futures (ty02z) -0'010 at 112'035, with YIELD ($TNX.X) at 4.225%.
In last night's Index Trader Wrap at OptionInvestor.com, I misspoke regarding Dow component Procter & Gamble's (NYSE:PG) $92.12 earnings release date. The company is expected to report earnings on Tuesday, October 29th before the bell.