Stock futures are lower, indicating another down day as
consolidation persists near the 2009 highs for the major averages. Wall
Street is unable to extend Thursday's robust rally. Consumer spending
fell as expected last month, a reaction to the expiration of the cash
for clunkers program that had boosted sales earlier. Oil and gold are
lower.
Despite general market weakness, some stocks are finding traction after results.
Chevron (
CVX) reports Q3 EPS of $1.92, including a $0.20 benefit
from asset sales and tax items. That compares to $3.85 per share a year
earlier and the Thomson Reuters mean analyst estimate for $1.47.
Sales were $45 billion vs $76 billion a year earlier. The Street looked for $46.9 billion.
Las Vegas Sands (
LVS) reports Q3 revs of $1.14 bln, up from $1.11
bln a year ago and just below to in line with the analyst mean of $1.16
bln on Thomson Reuters. Adjusted EPS was $0.03 per share, up from $0.02
per share and ahead of expectations of a loss of $0.01 per share.
Genworth Financial (
GNW) reports Q3 earnings of $0.10 per share,
before items, up from a year ago loss of $0.60 per share. Operating
income was $0.24 per share, vs. $0.51 per share a year ago. Net income
available to common stockholders was $0.04 per share, vs. $0.18 per
share last year. The Street view was a loss of $0.02 per share.
On the downside:
Alcatel-Lucent (
ALU) reports its Q3 loss widened to 182 million
euros ($270 million) after losing 40 million euros in the year-earlier
period. The company swung to an 11 million euro adjusted-operating loss
after earning 40 million euros during the same period last year.
Analysts had anticipated an 8 million euro profit by that measure,
according to MarketWatch. Revenue dropped 9% to 3.69 billion euros,
below expectations of 3.91 billion euros.
-Dow Industrial futures down 23 points.
-S&P 500 futures down 3 points.
-Nasdaq 100 futures down 4 points.
-Nasdaq-100 Pre-Market Indicator up 3.2 at 1714.47.
GLOBAL SENTIMENT
Nikkei up 1.5%
Hang Seng up 2.2%
FTSE-100 up 0.2%
PRE-MARKET SECTOR WATCH
(+,-) Large cap tech: mixed
(-) Chip stocks: lower
(+,-) Drug stocks: mixed
(-) Software stocks: lower
(-) Internet stocks: lower
(-) Financial stocks: lower
(-) Auto stocks: lower
(-) Airline stocks: lower
(-) Retail stocks: mostly lower
DOWNSIDE MOVERS
(-) CIT (-7%) tumbles on report that bankruptcy filing looms.
(-) NVTL (-18%) continues extended-hours gain after
(-) ALU (-7.6%) loss widens.
UPSIDE MOVERS
(+) LVS (+7.4%) continues extended-hours gain after surprise profit.
(+) GNW (+14.5%) continues extended-hours gain after Q3 beat.
(+) CVX (+0.7%) beats with Q3 EPS, revs shy.
(+) LYG (+2.8%) gains on report of capital plan, upgrade.
(+) WPTE (+39%) gets raised offer to $1.77 per share cash, stock.
(+) VVUS (+8.6%) gains on more positive study data for obesity drug.
(+) SXE (+8.6%) reports Q2 results that top year ago, beat Street.
(+) MSTR (+11.3%) beats with Q3 results.
(+) EL (+7.4%) beats with Q1, hikes FY guidance.
(+) DUK (+0.2) bets earnings expectations.
(+) CVH (+0.7%) beats with Q3 EPS, raises view.
