You are not logged in.
Share this topic :
U.S. stocks set to open lower; coporate earnings remain in focus
Corporate earnings season remain the main event today and so far the corporate results have shown firms performed well in the last three months of 2012, despite the impact of Super storm Sandy at the end of October and the so called “fiscal cliff” negotiations.
Humana, Life Technologies Corp, Baidu and Anadarko Petroleum Corp alongside other firms are set to post their earnings reports today.
Anadarko Petroleum is expected to post its earnings of 74 cents per share down from 85 per share a year earlier.
Analysts forecasts the revenue to decrease 4.5% to $3.38 billion for the quarter, down from $3.54 billion a year ago.
Health insurer Humana is projected to report that fourth-quarter earnings were down 3.6 percent to $1.08 per share while for the year; analysts are projecting net income of $7.53 per share, a decline of 3.7% from last year.
Life Technologies Corp is expected earnings at $1.11 per share, up by 4.7 percent from $1.06 per share a year earlier, while revenue is expected to decrease to $989.50 million.
Baidu is projected to post a profit of $1.29 per share, from 93 cents a year ago, while revenue is expected to be $1.01 billion.
Looking ahead, the U.S. Census Department will release factory orders for December, where estimates suggest a 2.3 percent rise compared to an unchanged reading in November.
on the Political avenue, President Barack Obama will vote this week on Republicans proposal to suspend the debt ceiling.
Congress on Friday gave approval to the House’s plan to suspend the debt ceiling on the U.S., to allow the Treasury to increase its borrowing limit, thus removing the threat of default on the U.S. government until August.
As of 06:17 New York time, futures on the Dow Jones Industrial Average declined 13 points to 13,917. Standard & Poor`s 500 futures fell 2.40 points to 1,504.30. The NASDAQ 100 dropped 1.50 points to 2,755.00.