Stocks that are expected to trade actively in U.S. markets on Thursday include: Ford Motor Company (NYSE:F), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), Zynga Inc (NASDAQ:ZNGA) and AutoNation, Inc. (NYSE:AN).
U.S.: DJIA 15413.33 (-0.35%), S&P 500 1,746.38 (-0.47%), NASDAQ 3,907.07 (-0.57%).
Europe: FTSE 6,693.64 (0.29%), DAX 8,963.78 (0.49%), CAC 40 4,265.86 (0.12%).
Asia Pacific: NIKKEI 14486.41 (0.42%), SHANGHAI 2,164.32 (-0.86%), HSI 22835.82(-0.71%), ASX 200 5,372.89 (0.31%), KOSPI 2046.69 (0.54%).
Commodities: Oil 97.42 (0.58%), NAT GAS 3.608 (-0.30%), Gold 1,335.90 (0.14%), Silver 22.675 (0.26%), Wheat 705.25 (0.50%), Corn 444.25 (0.34%).
Currency: EUR/USD 1.3787 (0.09%), GBP/USD 1.6174 (0.07%), USD/JPY 97.35 (-0.01%).
10 year Treasury bond: 2.509 (0.005).
Market & economic update
U.S. market to rebound: U.S. stock-index futures were up reflecting a rebound in the Standard & Poor’s 500 Index. S&P 500 futures for December gained 0.3% to 1,747.4 at 9:57 a.m. in London. The S&P 500 is trading at 15.8 times the estimated earnings of its companies, which is close to the highest valuation since the end of 2009, according to Bloomberg.
European market up: Shares were up early Thursday driven by Miners and better-than-expected manufacturing data from China. After news that Markit/HSBC Purchasing Managers Index (PMI) for China shot to a seven-month high, mining shares gained 0.9%. FTSEurofirst 300 rebounded 4.71 points, or 0.4% to 1,284.96 by 0730 GMT, following a decrease of 0.6% on Wednesday.
Asian markets mixed: Japanese shares, which were at a two week low due to traders blaming domestic investors for buying futures, rose on Thursday. The Nikkei after dropping to 14,273.71 in the morning session, the lowest point since 10th October, increased to 14,486.41, an increase of 0.4%. Shares on the Hong Kong exchange recorded their lowest level since early September, following Chinese fears of a spike in the short-term money rates. The Hang Seng Index slipped 0.7% at 22,835.8 points, which is the lowest since Sept. 9.
Stocks in the news
Ford Motor Company (NYSE:F)
For the third quarter, Ford earned $1.3 billion, or 31 cents per share, which is 14% than the same quarter last year. Revenue for the quarter was up 12% to $36 billion, and earnings beat the analyst’s estimates. Ford raised its full year earnings guidance following impressive third quarter global sales.
Microsoft Corporation (NASDAQ:MSFT)
Microsoft is expected to post earnings of 54 cents a share. A report from Yun Kim, an analyst at Janney Capital Markets, said “Until there are signs that MSFT can innovate and successfully execute in the post-PC era, we expect the stock to languish at current levels.” The analyst added that it is too early to comment if Surface tablets and other devices will offset the decline in the PC market.
Amazon.com, Inc. (NASDAQ:AMZN)
Amazon is projected to show a loss of 10 cents a share in the third quarter. Analyst Michael Pachter at Wedbush stated, “We remain neutral as we have little confidence in [Amazon’s] desire to provide investors with a strategy road map.” Patcher added that they are unsure if the company will provide in-depth details of its investment plan, which will help analysts model profit growth accurately.
Zynga Inc (NASDAQ:ZNGA)
Zynga is estimated to report a wider loss compared to the same period last year. The game maker will report its earnings today; analysts are expecting a loss of nine cents per share against three cents per share last year. Revenue is expected to drop 55% year-over-year to $141.8 million.
AutoNation, Inc. (NYSE:AN)
Analysts are optimistic about AutoNation, which is going to report its third quarter earnings on October 24. Analysts expect a profit of 78 cents a share against 66 cents per share a year ago. Revenue for the quarter is projected to come in at $4.41 billion up 12% from the year ago quarter.