Day Ahead: Awash in Earnings

 | Apr 22, 2014 | 9:00 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:
















U.S. stock futures were pointing higher Tuesday as earnings reports poured in and investors awaited more data on the health of the economy.

Three Dow components, McDonald's (MCD), United Technologies (UTX) and Travelers (TRV), reported results this morning. McDonald's missed on the top and bottom lines, United Tech beat earnings forecasts by a nickel per share, and Travelers arrived a penny ahead of EPS estimates.

Last night Netflix (NFLX) beat Wall Street expectations, and shares were higher in premarket trading.

On the economic docket, at 9 a.m. ET, the Federal Housing Finance Agency's Housing Price Index for February is expected to pull back to 0.03% from 0.5% in January. Analysts see existing-home sales receding to 4.56 million in March from 4.6 million the previous month. That report comes out at 10 a.m. At the same time, the Richmond Federal Reserve is set to release its manufacturing index.

Overseas, Asian markets were lower and European markets were boosted by a blockbuster deal among big pharma names. The U.K.'s GlaxoSmithKline (GSK), Switzerland's Novartis (NVS) and Eli Lilly (LLY) made a multi-billion-dollar swap that refocused their businesses. As a result, Novartis will concentrate on cancer drugs and Glaxo on vaccines, and Lilly will take a greater hand in veterinary medicine.

Meanwhile, shares of Allergan (AGN) soared in the premarket on news that Canada's Valeant Pharmaceuticals International (VRX) made a bid for the Botox maker. Hedge fund Pershing Square, managed by Bill Ackman, has a 9.7% stake in Allergan and supports the deal.

Columnist Conversations

In GS I see key price support at the 224.49-226.42 area.  I also have timing for a possible low.  I ...
Tesla (TSLA) has tested our long-term bounce zone @ 283.90-258.95 a few times. These have been BUYING opportun...
We have a big winner here, let's roll it up to a higher strike   SOLD SRPT NOV 140 CALL AT 26 (in ...
We still like this name and want to give it more time. SOLD AAPL OCT 220 CALL AT 6.9 (in at 10) BOUGHT A...



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.