(By Salman - iStockAnalyst Writer) US stock futures rose on Tuesday after healthcare giant Johnson & Johnson posted modestly higher earnings and lifted 2009 adjusted earnings outlook.
At 8:26 am ET, the S&P 500 futures fell 0.20 point to 1071.30. The Dow Jones Industrial average futures rose 9 points to 9828. The Nasdaq Composite futures climbed 2.25 points to 1730.
Early on Tuesday, healthcare giant Johnson & Johnson (NYSE:
JNJ) reported third-quarter net income of $3.35 billion, or $1.20 a share, compared with $3.31 billion, or $1.17 a share, for the same quarter in 2008. Revenue slipped 5% to $15.08 billion, from $15.92 billion. The company boosted its 2009 adjusted earnings outlook to the range of $4.54 to $4.59 a share.
Johnson Controls (NYSE:
JCI) said on Tuesday that it anticipates fiscal 2010 earnings per share to range between $1.35 and $1.45 on 9% revenue growth to $31 billion. The company also said that fourth-quarter earnings are due to range between 40 and 42 cents a share.
Meanwhile, AIG (NYSE:
AIG) announced Tuesday that it has reached a deal to sell its Taiwan life insurance unit to a consortium of companies for $2.2 billion.
Shares of Goldman Sachs (NYSE:
GS) declined in pre-market trading after top banking analyst Meredith Whitney downgraded her rating on the stock to "neutral" from "buy."
Shares of commercial lender CIT Group Inc. (NYSE:
CIT) plunged in pre-market trade following announcement that CEO Jeffery Peek will resign on Dec. 31.
Dell Inc. (NASDAQ:
DELL) founder Michael Dell, who announced a $3.9 billion takeover of Perot Systems Corp. in September, said his company is "rapidly developing" merger expertise and will be "reasonably active" on the acquisition front.
Intel (NASDAQ:
INTC), the world's largest chip maker, will be reporting its quarterly results after the closing bell.
On the economic front, no major data is scheduled for release on Monday.
US stocks finished mostly higher on Monday as a weak dollar boosted commodity prices, thus sending energy stocks higher.
European stocks were mixed in afternoon trade. At 12:58 pm London time, the UK FTSE gained 4.80 points or 0.09% to 5,214.97. The German DAX and French CAC decreased 0.15% and 18% respectively.
Asian stocks finished higher. The Nikkei 225 rose 60.17 points or 0.60% to $10,076.56. The Hang Seng index of Hong Kong advanced 168.01 points or 0.79% to 21,467.36.
NYMEX crude oil for November delivery climbed as much as 87 cents or 1.2% to $74.14 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
