Threadsters wise to cover shorts, yesterday. excerp: <Stocks
to Open Higher As Oil Prices Let Up
Wednesday October 13, 6:43 am ET
Stocks Are Set to Open Slightly Higher As Investors Take Advantage of Letup in Oil Prices
NEW YORK (AP) -- U.S. stocks are called slightly higher at the open as investors use a letup in oil prices and some upbeat corporate news to add to positions.
Dow Jones futures climbed 11 points recently, while Nasdaq futures were up 7 points and Standard & Poor's futures increased 1.8 points.
In London, the FTSE was up 14.60 points to 4662.5 as investors enjoy a letup in oil prices.
In Japan, the benchmark Nikkei 225 slipped 5.82, or 0.1 percent, to 11195.99, down for the fourth straight session, erasing early gains as technology stocks were hurt by late profit-taking despite rises on Intel Corp.'s earnings report.
In U.S. corporate news, tech bellwether Intel reported third-quarter earnings and revenue that came in ahead of views. Intel reported a profit of 30 cents a share on revenue of $8.5 billion, and said it expects fourth-quarter revenue of between $8.6 billion and $9.2 billion, bracketing Wall Street's fourth-quarter revenue forecast of $9.07 billion.
Also, Yahoo Inc.'s third-quarter net income more than tripled, including one-time items, propelled largely by strong online advertising revenue, to 17 cents a share from 5 cents a year ago, and revenue jumped to $906.7 million from $356.8 million.
In non-earnings news, Starbucks Corp. said President and Chief Executive Orin Smith will retire March 31 and will be replaced in both spots by Jim Donald, the president of Starbucks North America.
For Wednesday, analysts expect Apple Computer Inc. to post a fiscal fourth-quarter profit of 18 cents a share when it reports after the bell Wednesday.
They're looking for New York Times Co. to report 32 cents a share for its third quarter at about 11:00 a.m. EST.
Novellus Systems Inc.'s third-quarter profit is pegged at 38 cents a share, and QLogic Corp. is seen earning 36 cents a share when it reports its fiscal second quarter after the bell.
Analysts are also expecting Host Marriott to report earnings of 11 cents a share before the market open.
No key economic data will be reported Wednesday.>
biz.yahoo.com |
