|
 Overseas events were also a focus as concerns grew about Greece's
debt situation. The Financial Times reported the International
Monetary Fund had rebuffed a request from the country to delay loan
repayments. An index of European shares fell 0.9 percent.
Of the 36 companies in the S&P 500 that have reported thus far, 81
percent have exceeded profit expectations, over the long-term
average of 63 percent. Only 47 have beaten on revenue, however,
below the historical average of 61 percent. That suggests companies
are boosting their bottom lines with cost cuts rather than through
business expansion.
Goldman Sachs <GS.N> reported better-than-expected earnings, helped
by a burst of trading in fixed-income and currencies. Shares of the
Dow component rose 0.4 percent to $201.85 before the bell.
UnitedHealth Group Inc <UNH.N> reported strong earnings and revenue
growth, sending shares up 2.9 percent to $120.75 in premarket
trading. Netflix Inc <NFLX.O> late Wednesday added more subscribers
than projected in the first quarter, sending shares up 12 percent to
$531.70 before the bell.
On the downside, SanDisk Corp fell 7.3 percent to $65.93 in heavy
premarket trading a day after forecasting a steeper-than-expected
fall in full-year revenue.
First-quarter profits for S&P 500 companies are seen falling 2.6
percent, according to Thomson Reuters data, eroded by low oil
prices, a strong dollar and extreme weather in the eastern United
States.
Energy shares may continue to be volatile as U.S. crude futures
dropped 1.9 percent to $55.31 a barrel. That follows a rise of 5.8
percent on Wednesday, the fifth day of gains for the commodity.
[to top of second column] |
Wall Street has been on an uptrend of late, with the S&P 500 rising
in seven of the past nine sessions. Wednesday's gains brought the
Nasdaq within striking distance of its record-high close of 5,048.62
in 2000.
Jobless claims unexpectedly rose in the latest week, but continuing
claims fell to their lowest since 2000, a trend that points to a
strengthening labor market.
Futures snapshot at 8:35 a.m. EDT:
* S&P 500 e-minis were down 7 points, or 0.33 percent, with 163,984
contracts changing hands.
* Nasdaq 100 e-minis were down 16.75 points, or 0.38 percent,
in volume of 22,624 contracts.
* Dow e-minis were down 55 points, or 0.31 percent, with
27,995 contracts changing hands.
(Editing by Bernadette Baum)
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