U.S. futures pointed to a mixed open on the Wall Street, as investors
remained cautious ahead of the Federal Reserve's decision on interest
rates. A blow-out quarterly report from Apple amid mixed corporate
earnings is likely to hold attention.
Mini Dow industrial average futures lost 37 points to 12,589.00. The
Nasdaq Futures rose 16.5 points to 2,454.00. Standard and Poor's 500
futures slid 2.70 points to 1,308.70.
On the economic front, the Fed will probably leave interest rates
unchanged, according to a Bloomberg survey. The Federal Open Market
Committee will release a policy statement later in the day.
On Tuesday, U.S. stocks trimmed losses, yet finished on a mixed note,
as talks of Greek debt hit a deadlock even as the International
Monetary Fund (IMF) sharply slashed its global growth outlook. Mixed
earnings reports from major companies also dented sentiment.
Hot Stocks Of The Day: (AAPL, AMD, NVDA, ILMN, TXT)
Apple Inc. (NASDAQ: AAPL) advanced 7.7 percent in premarket trading
to $453.00 following robust quarterly numbers and upbeat forecast. The
company earned $13.87 per share in the first quarter, topping analysts'
expectations of $10.08 per share. Sales rose to $46.33 billion from
$26.7 billion, ahead of consensus of $38.8 billion. The company's iPhone
sales soared 128 percent to 37.04 million units, topping expectations
of sales of around 30 million to 32 million. iPad sales jumped 111
percent to 15.43 million. For the second quarter, Apple sees earnings
per share of $8.50 on sales of $32.5 billion. Analysts expect the
company to earn $8.03 per share on sales of $32.04 billion.
Advanced Micro Devices Inc. (NYSE: AMD) fell 4 percent to $6.27 after
the semiconductor maker's quarterly revenue trailed Wall Street
projections. The company earned 19 cents per share on a non-GAAP basis
on revenue of $1.69 billion. Analysts expected earnings per share of 16
cents on revenue of $1.72 billion for the fourth quarter. For the first
quarter, AMD expects revenue to fall eight percent, plus or minus three
Nvidia Corp. (NASDAQ: NVDA) dropped 3.8 percent in premarket after
the maker of graphics processors slashed its fourth-quarter revenue
view. It expects revenue to be $950 million, plus or minus 1 percent,
compared with original expectations of $1.07 billion. Nvidia cited the
downward revision to disk-drive shortage aftermath Thailand floods and
rapidly-than-expected fall in Tegra 2 mobile business.