(By Salman - iStockAnalyst Writer) US stock futures rose on Monday on growing optimism about upcoming corporate earnings.
At 8:06 am ET, the S&P 500 futures rose 5.80 points to 1087.80. The Dow Jones Industrial average futures increased 51 points to 9975. The Nasdaq Composite futures increased 10.50 points to 1742.
Early on Monday, Hasbro Inc. (NYSE:
HAS), the nation's second biggest toymaker, said its third quarter net income rose 8.8 percent to $150.4 million, or 99 cents per share, from $138.2 million, or 89 cents a share, in the prior-year quarter. Revenue decreased 1.7% to $1.28 billion from $1.20 billion a year ago.
BB&T Corp. (NYSE:
BBT) reported Monday that its third-quarter profit slumped $157 million, or 23 cents a share, compared to $362 million, or 65 cents a share, in the comparable quarter last year.
Eaton Corp. (NYSE:
ETN) said that its third-quarter net income declined to $193 million, or $1.14 a share, from $315 million, or $1.87 a share, in the same quarter last year. Quarterly revenue slipped 26% to $3.03 billion from the prior year's $4.11 billion. The company also projected fourth-quarter net income in a range between $1.00 and $1.10 a share, with operating earnings per share forecast at $1.15 and $1.25.
Terra Industries (NYSE:
TRA) said Monday that it expects 2009 third-quarter revenues to be about $347 million, approximately 23% lower than 2009 second-quarter revenues of $454 million and approximately 56% lower than 2008 third-quarter revenues of $790 million.
Chevron Corp. (NYSE:
CVX) on Sunday announced that it has made an additional discovery of natural gas in the giant Gorgon gas field being developed off the northwest coast of Australia.
Apple (NASDAQ:
AAPL) and Texas Instruments (NYSE: TXN) are scheduled to release their quarterly earnings results after the market close.
On the economic front, no major report is due for release on Monday.
US stocks retreated on Friday as disappointing quarterly reports from General Electric and Bank of America dented investor optimism.
European stocks advanced in afternoon trade. At 12:54 pm London time, the UK FTSE gained 66.28 points or 1.28% to 5,256.52. The German DAX and French CAC increased 1.29% and 1.14% respectively.
Asian stocks finished mixed. The Nikkei 225 fell 21.05 points or 0.21% to $10,236.51. The Hang Seng index of Hong Kong rose 270.56 points or 1.23% to 22,200.46.
NYMEX crude oil for November delivery dropped 47 cents or 0.6% to $78.06 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
