This Day On The Street
Continue to site
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

Market Hustle: Futures Lose Traction as UPS Slashes Outlook

NEW YORK (TheStreet) -- Stock futures were losing traction Friday, weighed down by a round of quarterly reports that came in shy of estimates. UPS (UPS - Get Report) cut its guidance, and General Electric (GE - Get Report) and Intel (INTC) missed expectations.

  • Futures for the S&P 500 were up 0.5 points, or 3.09 points below fair value, to 1,836.75, Dow Jones Industrial Average futures were up on 13 points, or 14.01 points below fair value, to 16,337, Nasdaq futures were down 0.8 points, or 9.74 points below fair value, to 3,594.5.

  • UPS was stumbling 3.76% to $96.71 after lowering its full-year guidance to $4.57, from the prior outlook of $4.65 to $4.85. The company expects fourth-quarter earnings of $1.25 a share, missing forecasts. UPS explained the results were being hurt by the challenges of the compressed peak season coupled with an unprecedented level of online shopping.

  • General Electric was losing 2.24% to $26.60 after being just shy of hitting its goal of a 70-basis-point improvement for its industrial margin of 2013.

    Must Read: Market Hustle: Stocks Close Lower Amid Lackluster Earnings

  • Intel missed Wall Street estimates, sending shares lower by more than 4.5% to $25.32 in premarket trading.

  • Morgan Stanley (MS - Get Report) was rising 1.09% to $32.35. The bank reported fourth quarter earnings of 7 cents per share, or 20 cents on an adjusted basis, though both figures were weighed down by legal costs.

  • December housing starts rose to a seasonally adjusted annual rate of 999,000, topping estimates. Permits came in at a pace of 986,000, below expectations. Other indicators on the docket include industrial production and capacity utilization for December at 9:15 a.m., and the University of Michigan's consumer sentiment index at 9:55 a.m. Industrial production is forecast to rise 0.3%.

-- Written by Andrea Tse in New York.

Follow @atwtse

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GE $29.93 0.13%
MS $26.28 0.42%
UPS $102.01 -0.13%
AAPL $93.29 0.05%
FB $117.80 -0.01%


Chart of I:DJI
DOW 17,648.97 -11.74 -0.07%
S&P 500 2,048.63 -2.00 -0.10%
NASDAQ 4,709.3430 -7.7510 -0.16%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs