Stock futures were quietly higher Monday, a day carrying a light economic calendar and muted overseas action, but with a heavyweight line-up of after-hours earnings reports.
Dow futures were up 11 points, down from earlier highs. SP 500 futures were flat while Nasdaq 100 futures clung to a 1.5 point gain. Dow and SP 500 futures were trading below fair market value.
United Technologies (UTX) posted the Dow’s largest move, down 2%. The aerospace leader is scheduled to report Q4 results Wednesday.
Oil rose more than 1% to above $99 a barrel. Natural gas notched up a fraction after sweeping to a 10-year low late last week. Gold edged above $1,676 an ounce.
Twin Disc (TWIN) slumped 9% ahead of the opening bell after reporting fiscal second-quarter earnings of 51 cents per share, nine cents below analyst expectations. Revenue rose 11% to $82.9 million but also fell well short of views. Despite the slow start, the company said it expects a good year as it enters its seasonally strong second half.
After the close, Albermarle (ABL), railroads CSX (CSX) and Kansas City Southern (KUS), Texas Instruments (TXI), VMware (VMW)and Western Digital (WDC) are among the companies slated to report earnings.
European markets were generally quiet, showing light gains in early afternoon trade. China’s markets closed slightly higher Monday while Japan’s Nikkei 225 in Tokyo slipped 0.5%.
- Avg. Rating:
- Your Rating:
Stocks Quiet After Market’s 3-Week Rise
Stocks wavered and finished narrowly mixed in quiet trading Monday. It was subdued but basically normal action after the market’s three-week advance. Energy stocks lifted the NYSE composite to a 0.3% gain. There was good and bad news in the sector. Apache (APA) announced a buyout that would double …
01/23/2012 06:52 PM ET
Railroads’ Q4 Results Weak
9. CSX’s (CSX) EPS rose 13% to 43 cents as revenue grew 5% to $2.95 bil, both just shy of views. It named Oscar Munoz as CEO and Fredrik Eliasson as CFO. Kansas City Southern (KSU) said Q4 profit rose 63% to $1.01 ex various items — beating views easily. But revenue rose 11% to …
01/23/2012 06:49 PM ET
VMware Beats, Guides Higher
8. The virtualization software firm’s Q4 EPS surged 35% to 62 cents, 2 cents above views. VMware (VMW) revenue climbed 27% to $1.06 bil, also slightly above views. The maker of software that lets computers run multiple operating systems guided higher for Q1 and 2012. Shares climbed …
01/23/2012 06:49 PM ET
Western Digital (WDC), a hard-drive maker, said Q2 sales rose 8% to 2 bil, over views. EPS fell 37% to 61 cents, missing by 10 cents. It now expects Q3 manufacturing capacity will be up to pre-Thai flood levels. It rose 5%.
01/23/2012 06:35 PM ET
Virtualization Leader VMware Beats Q4 Expectations
Virtualization continues to be a very real growth driver for VMware (VMW). The software company late Monday reported Q4 profit and sales that beat analyst’s views as it continues to find solid demand for its market-leading cloud computing virtualization software, even in an uncertain economy. The …
01/23/2012 05:42 PM ET
More Markets Update Articles:
Stocks End Mixed; After Hours, VMware, TI Beat Views
Stocks finished mixed and little changed Monday, closing around the middle of their trading ranges for the session. The SP 500 gained less than 0.1%, while the Dow Jones industrial average and Nasdaq both dipped about 0.1%. Volume came in lower across the board, according to early data. After …
01/23/2012 04:55 PM ET
Stocks Close Barely Changed As Volume Declines
Stocks closed with minuscule changes Monday amid declining volume, as oil-related groups dominated an otherwise dull session. The Nasdaq and the Dow Jones industrial average each dipped not quite 0.1%, while the SP 500 edged up fractionally. Volume declined 11% on the Nasdaq and 17% on the …
01/23/2012 04:15 PM ET
Stocks Stay Split In Late Trade; Intuitive Surgical Down
Stocks were mixed in late trading Monday. Energy issues helped the NYSE composite to a small gain, but the broader indexes were still modestly lower. The Nasdaq and Dow Jones industrial average slipped 0.2% each. The SP 500 eased 0.1%. Meanwhile, the NYSE composite rose 0.2%. Volume continued …
01/23/2012 03:06 PM ET
Stocks Push Off Lows; Jazz Nears Former Buy Point
Stocks were off session lows, but still mildly lower in afternoon trading Monday. Earlier, Briefing.com reported that a pullback in the euro and stocks coincided with headlines suggesting that the International Monetary Fund and the eurozone have no intentions of giving Greece more money. The …
01/23/2012 01:41 PM ET
Stocks Slip Into Red; Apache Merger Sparks Energy Plays
Stocks gave up early gains despite dollar weakness and strong gains in the energy sector. The Nasdaq dipped 0.3%. The Down Jones industrial average and the SP 500 each backed off 0.2%. Trading volume was soft, down 10% on the Nasdaq and 40% lower on the NYSE, vs. trading at the same time …
01/23/2012 12:05 PM ET