Stock futures signal losses; all eyes on Apple

PARIS (Reuters) - Stock index futures pointed to a lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.22 percent, Dow Jones futures up 0.02 percent and Nasdaq 100 futures down 1.3 percent at 1014 GMT.

Shares of Apple Inc will be in the spotlight after the world's biggest tech company missed Wall Street's revenue forecast for the third straight quarter after iPhone sales came in below expectations, fanning fears that its dominance of consumer electronics is slipping.

Shares of the company traded in Frankfurt were down 8 percent early. They sank 10 percent to $463 in after-hours trade on Wall Street on Wednesday night, wiping out some $50 billion of its market value - nearly equivalent to that of Hewlett-Packard and Dell combined.

A U.S. trade panel that specializes in patent disputes will review a potentially key decision in the patent fight between Samsung Electronics and Apple Inc over smartphones and tablets.

European shares were mostly flat in morning trade, as bullish economic data out of China offset Apple's weaker-than-expected figures which fanned earnings worries in the technology sector. <.eu/>

Noble Corp , owner of the world's third-largest offshore drilling fleet, reported on Wednesday a lower-than-expected quarterly profit as it struggled with maintenance for five high-end rigs, even as demand for its most capable units increased.

Raymond James Financial Inc said quarterly profit rose 27.6 percent, boosted by strong performance from its brokerage and capital markets divisions.

Investors in U.S.-based mutual funds pumped $9.32 billion into stock funds in the week ended January 16, the second consecutive week of inflows for such funds, data from the Investment Company Institute showed on Wednesday.

Hard disk drive maker Western Digital Corp's second-quarter results beat analysts' expectations, helped by growth in its enterprise segment. Shipment in the enterprise segment rose about 10 percent from first-quarter levels to 6.63 million units, analyst Nehal Chokshi of Technology Insights Research told Reuters.

Japanese regulators have joined their U.S. counterparts in all but ruling out overcharged batteries as the cause of recent fires on the Boeing Co 787 Dreamliner, which has been grounded for a week with no end in sight.

Amgen Inc on Wednesday projected revenue for 2013 that exceeds Wall Street estimates and said it was on track to deliver on its 2015 forecasts well ahead of schedule.

Pamplona Capital Management, holder of 9.3 percent of Nabors Industries Ltd , has become "increasingly concerned" about the underperformance of the drilling rig contractor's shares, according to a regulatory filing on Wednesday.

Symantec Corp plans to slash its management ranks and reorganize into 10 business areas, but has decided not to sell off major assets after a strategic review by its new early this month.

SanDisk Corp's modest revenue outlook disappointed investors looking for a rebound in memory chips widely used in smartphones and tablets, sending its shares lower.

Netflix Inc surprised Wall Street on Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the United States and abroad, sending its shares 35 percent higher in after-hours trading.

Among the companies set to report results on Thursday feature Bristol-Myers Squibb , Lockheed Martin , 3M Company , Microsoft , Raytheon , Starbucks , AT&T Inc. , and Xerox Corp. .

On the macro front, investors awaited weekly jobless claims, at 1330 GMT, Markit Manufacturing PMI for January, due at 1358 GMT, and December leading economic indicators, due at 1500 GMT.

The S&P 500 rose for a sixth day on Wednesday after stronger-than-expected profits from IBM and Google but the rally could be halted as Apple's after-hours miss sent its shares lower.

The Dow Jones industrial average <.dji> rose 67.12 points or 0.49 percent, to 13,779.33, the S&P 500 <.spx> gained 2.25 points or 0.15 percent, to 1,494.81, and the Nasdaq Composite <.ixic> added 10.49 points or 0.33 percent, to 3,153.67.

(Reporting by Blaise Robinson)

You're reading an article about
Stock futures signal losses; all eyes on Apple
This article
Stock futures signal losses; all eyes on Apple
can be opened in url
http://ray76.blogspot.com/2013/01/stock-futures-signal-losses-all-eyes-on.html
Stock futures signal losses; all eyes on Apple

Title Post: Stock futures signal losses; all eyes on Apple
Rating: 100% based on 99998 ratings. 5 user reviews.
Author: Ray76 News

Thanks for visiting the blog, If any criticism and suggestions please leave a comment