This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Futures Rise as DuPont, Coach, Netflix Shine

Stocks in this article: ^DJI ^GSPC ^IXIC AAPL NFLX DD COH

NEW YORK ( TheStreet) -- U.S. stock futures were rising Tuesday despite weak manufacturing data from China as investors cheered earnings reports from DuPont (DD), Coach (COH) and Netflix (NFLX).

Futures for the S&P 500 were up 6.25 points, or 5.2 points above fair value, to 1,562.25.

"China's PMI was bad so the day started off with the futures lower. But earnings the report this morning from DD is helping the futures rally," said Jonathan Corpina, senior managing partner at Meridian Equity Partners in New York. "170 S&P 500 companies are reporting this week, so if there is momentum early, it will follow through. NLFX has been an interesting story and I think investors are looking at this as the new 'hot stock'."

DuPont was rising 0.7% to $50.74 in premarket trading after the chemicals giant reaffirmed its 2013 outlook. DuPont reported first-quarter earnings that exceeded Wall Street expectations as robust agricultural segment sales helped buffer the impact of softening demand for titanium dioxide. Dupont also raised its dividend 5%.

Coach's stock was surging in pre-market trading after the luxury retailer posted third-quarter profit that beat analysts' average estimates. Shares were up 13% to $57.30 before the market opened Tuesday.

Netflix, the online-entertainment company, was surging 24% to $216.38 after posting earnings on Monday that beat Wall Street expectations. The company had more than 36 million streaming subscribers at the end of the quarter, up 3.05 million from the previous quarter.

U.S. stocks rose Monday after Caterpillar (CAT) forecast growth in China and a hedge fund's interest in Microsoft (MSFT) drove the software maker's shares higher offsetting an unexpected decline in sales of previously-owned homes.

Futures for the Nasdaq were up 18.25 points, or 12.53 points above fair value, to 2,815.5. Futures for the Dow Jones Industrial Average were rising 66 points, or 64.83 points above fair value, to 14,565.

The preliminary number for HSBC's Purchasing Managers Index fell to 50.5 from 51.6 in March. A print above 50 indicates expansion. The slowdown in China was blamed on a fall in new export orders, which can be indicative of global demand weakness.

"As China tries to shift from investment-driven growth to one that is consumption-driven, an appreciating Chinese Renminbi encourages consumption and developed the service sector of the economy," noted Sim Han Qiang, an investment analyst at Phillip Futures Pte in Singapore. "An appreciating Chinese Renminbi undermines the export and manufacturing industries as their export will be priced higher on the international markets."

Meanwhile Germany's private sector shrank for the first time since last November amid weakness in both its services and manufacturing sectors this month.

Apple (AAPL), the iPhone, iPad and iPod maker, was up 0.88% to $402.06 in premarket trading ahead of its fiscal second-quarter earnings report after the bell. The company is expected by analysts to post fiscal second-quarter earnings of $10.04 a share on revenue of $42.38 billion.

The key to Apple's earnings report will be guidance for the June quarter, as the tech giant gets ready to refresh its product lineup, with the oft-rumored iPhone 5S and new iPad and iPad mini tablets.

TheStreet will be live-blogging Apple's earnings on Tuesday beginning at 3:45 p.m. EDT.

U.S. economic releases Tuesday include the new-home sales report for March from the Census Bureau at 10 a.m. New-home sales are expected to have risen to a seasonally adjusted annual rate of 420,000 in March from 411,000 in February.

AT&T (AT&T), the largest telecommunications company in the U.S., is expected by analysts on Tuesday after the close to post first-quarter earnings of 64 cents a share on revenue of $31.7 billion. In the year-earlier quarter, AT&T earned $3.6 billion, or 60 cents a share, on revenue of $31.8 billion. Shares were up 0.13% to $38.78 in premarket trading.

June crude oil futures were falling 79 cents to $88.40 a barrel on the New York Mercantile Exchange, while June gold futures were down $7.60 to $1,413.60 an ounce.

The dollar was rising 0.34% to $82.95 according to the U.S. dollar index. The benchmark 10-year Treasury was rising 9/32, diluting the yield to 1.665%

The FTSE 100 in the UK was up 1.29% and the DAX in Germany was ahead by 1.56%. The Hong Kong Hang Seng index closed down 1.08% and the Nikkei 225 in Japan finished off 0.29%.

Written by Andrea Tse in New York

>To contact the writer of this article, click here: Andrea Tse.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs