U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 14 points.
-S&P 500 futures flat.
-Nasdaq 100 futures down 3 points.
-Nasdaq-100 Pre-Market Indicator down 3.2 at 1750.36.
GLOBAL SENTIMENT
Nikkei down 0.6%
Hang Seng up 0.5%
FTSE-100 down 1%
PRE-MARKET SECTOR WATCH
(+,-) Large cap tech: mixed
(+,-) Chip stocks: mixed
(+,-) Drug stocks: mixed
(+) Software stocks: firmer
(+,-) Internet stocks: mixed
(+,-) Financial stocks: mixed
(-,+) Auto stocks: mixed
(-) Airline stocks: lower
(+,-) Retail stocks: mixed
DOWNSIDE MOVERS
(-) TQNT (-19.7%) sees continued downside reaction to Q4 warning.
(-) HBAN (-2.6%) loss is deeper than Street view.
(-) EBAY (-3.2%) sees continued downside reaction to disappointing Q4 guidance.
(-) UPS (-0.4%) beats with Q3, Q4 guidance straddles Street view.
(-) MI (-0.8%) issuing stocks.
(-) DOW (-0.2%) gives up early gain that followed earnings beat.
UPSIDE MOVERS
(+) MCD (+3.5%) beats by 4 cents.
(+) XRX (+2.1%) beats with Q3, guides in line.
(+) MMM (+2.2%) easily beats with results, raises FY EPS view.
MARKET DIRECTION
Stock futures overcame early pre-market declines to more recently
trade narrowly mixed. Stock futures held their ground even as weekly
jobless claims data proved mildly disappointing. In general, mostly
positive earnings are being weighed against the fact that recent stock
market gains may already reflect the improving picture among companies
and the economy.
On the economic front, first-time jobless benefits claims for the
week ended Oct. 17 rose 11,000 to 531,000, according to a report out
this morning. The prior week's claims level was revised higher by 6,000
to stand at 520,000. Claims had declined in back-to-back weeks.
The less-volatile four-week moving average of new claims slipped to 532,250, the lowest level since mid-January.
The Labor Department also reported that continuing jobless claims
for the week ended Oct. 10 fell to 5.92 million, off 98,000. This is
the lowest level since the week ended March 28.
Active earnings-driven movers include:
eBay (
EBAY) remains an active tech decliner. The company reported
late Wendesday it recorded Q3 non-GAAP EPS of $0.38 vs $0.46 in the
year-ago quarter and just topping the Thomson Reuters mean analyst
estimate for $0.37. Revenue of $2.2 billion is up $120 million from the
same period a year ago. The Street looked for $2.1 billion. For Q4,
eBay expects net revenues in the range of $2.20 billion to $2.30
billion. The Street is at $2.25 billion. Non-GAAP EPS are expected at
$0.38 to $0.40. The Street looks for $0.40.
Xerox (
XRX) reports Q3 sales of $3.67 bln, ahead of expectations of
$3.67 bln. EPS was $0.14 per share, two cents better than the Street
view. For Q4, the company guides for EPS of $0.20 to $0.22 per share,
vs. the Street view of $0.21 per share.
McDonald's (
MCD) reports Q3 earnings of $1.15 per share, four cents
better than the analyst mean on Thomson Reuters. Revs were $6.04 bln,
just shy of the Street view of $6.1 bln.
