Market Hustle: Stock Futures in Wait-and-See Mode
NEW YORK (TheStreet) -- U.S. stock futures were in wait-and-see mode on Tuesday as a number of sector heavyweights reported quarterly earnings.Dow Jones Industrial Average futures were up 4 points to 16,375, S&P 500 futures were unchanged at 1,864.5, and Nasdaq futures were up 4.75 points to 3,556.
- McDonald's (MCD) reported earnings of $1.21 a share, 3 cents lower than estimates as soft U.S. sales dragged on profit.
- Lockheed Martin (LMT) posted net income of $2.87 a share. Revenue fell 3.3% to $10.7 billion.
- Comcast (CMCSA) earned 68 cents a share, 4 cents higher than estimates as Sochi Olympics broadcasts boosted the bottom line.
- After the markets close on Tuesday, Discover Financial (DFS), AT&T (T) and Yum! (YUM) are scheduled to report.
- Netflix (NFLX) is spiking in premarket trading after announcing earnings of 86 cents a share, 3 cents higher than estimates, and $1.27 billion in revenue. The streaming giant also said it plans to raise prices by $1 or $2 per month to fund its library expansion.
- European markets moved higher, boosted by M&A movement in the pharmaceutical sector. Novartis (NVS), GlaxoSmithKline (GSK) and Eli Lilly (LLY) have entered into a multibillion-dollar deal, while rumors of a takeover offer from Pfizer (PFE) sent AstraZeneca (AZN) shares higher. London's FTSE moved 1.04% higher to 6,694.24, Germany's DAX was up 1.34% to 9,535.79, and France's CAC 40 gained 0.94% to 4,473.35.
- Japan's Nikkei closed 0.85% lower to 14,388.77 as Japanese companies prepare to report earnings and issue guidance for the fiscal year ending March 2015.
- On Monday, U.S. stock indices closed modestly higher, with the S&P 500 booking a five-day winning streak.
- The FHFA House Price Index for February is due at 9 a.m. EDT, while March existing home sales will be released at 10 a.m. EST.
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