Stocks that are expected to trade actively in the U.S. market on Friday include: Intel Corporation (NASDAQ:INTC), American Express Company (NYSE:AXP), Capital One Financial Corp. (NYSE:COF), Morgan Stanley (NYSE:MS) and General Electric Company (NYSE:GE).
U.S.: Dow 16,417.01 (-0.39%), S&P 500 1845.89 (-0.13%), NASDAQ 4218.69 (0.09%).
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
Europe: FTSE 6824.67 (0.14%), DAX 9784.18 (0.68%), CAC 40 4340.71 (0.50%).
Asia Pacific: NIKKEI 15734.46 (-0.08%), HANG SENG 23133.35 (0.64%), SHANGHAI 2004.95 (-0.93%), KOSPI 1944.48 (-0.66%).
Commodities: Oil 94.48 (0.55%), NAT GAS 4.361 (-0.48%), Gold 1240.90 (0.06%), Silver 20.07 (0.08%), Wheat 571.75 (-0.17%), Corn 426.00 (-0.47%).
Currency: EUR/USD 1.3597 (-0.16%), GBP/USD 1.6443 (0.54%), USD/JPY 104.42 (0.09%).
10 year Treasury bond: 2.84 (-0.007).
Economic & Market Update
U.S. market may open higher- U.S. stock futures were up marginally on the last trading day of the week. The Dow Jones Industrial Average, Standard & Poor’s 500 and NASDAQ were up around 0.1% before the opening bell. On Thursday, the markets were down because of weak earnings from Best Buy, Goldman Sachs, Citigroup, and railroad operator CSX.
European market flat- Shares on the European exchanges were stable at around 5-1/2 year highs on Friday because of a profit warning from oil major Royal Dutch Shell. By 0821 GMT, FTSEurofirst 300 was up 0.16 percent at 1,339.93 points, similar to the levels seen in mid-2008.
Asian markets down- Trading in Asian markets was subdued following underwhelming earnings from U.S. firms, pulling down the two-day rally on the Wall Street. Consistent profit-making led to a 1.1% fall in the benchmark Nikkei. China’s benchmark index came close to its lowest levels in over five months because of a crunch on liquidity levels.
Stocks To Watch
Intel Corporation (NASDAQ:INTC)
For the fourth quarter, Intel posted earnings of $2.6 billion, or 51 cents a share, compared to $2.5 billion, or 48 cents a share, a year earlier. Revenue for the quarter came in at $13.83 billion from $13.48 billion, last year. Analysts expected the chip maker to post earnings of 52 cents a share. In after-hours trading, shares of the company were down 2.9%.
American Express Company (NYSE:AXP)
On late Thursday, American Express posted earnings of $1.31 billion, or $1.21 a share for the fourth quarter. Analysts expected earnings of $1.25 a share in the quarter. For the same period last year, the company reported earnings of $637 million, or 56 cents a share. Revenue for the quarter increased to 8.55 billion from $8.14 billion a year earlier.
Capital One Financial Corp. (NYSE:COF)
Capital One Financial reported fourth quarter profits of $859 million, or $1.45 a share, compared to $843 million, or $1.41 a share, a year ago. However, revenue for the company was down to $5.54 billion from $5.62 billion. In after-hours trading, shares of Capital One were down more than 2%.
Morgan Stanley (NYSE:MS)
Morgan Stanley is expected to post fourth quarter earnings of 45 cents per share on revenue of $8.01 billion. On Thursday, shares of the company lost 0.68% to close at $32.00.
General Electric Company (NYSE:GE)
For the fourth quarter, General Electric is expected to report earnings of 53 cents per share on revenue of $40.22 billion. In after-hours trading, shares of the company gained 0.11% to $27.23.