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Updated from 6:47 a.m. EST

Premarket futures were indicating traders of U.S. stocks were ready to take profits Wednesday, the morning after

Sen. Barack Obama

won the presidential election.

Futures for the

S&P 500

were down 17 points at 986 and were 19 points below fair value.


futures were lower by 21 points at 1360 and were 20 points short of fair value.

On Tuesday, the major averages finished with strong gains as traders took in encouraging earnings statements and anticipated the resolution of the presidential race.

Ahead of Wednesday's session, several corporate headlines were detracting from buying sentiment.

Aircraft maker


(BA) - Get The Boeing Company Report

announced that its 787 Dreamliner program was suffering delays because it needs to replace improperly attached fasteners on the new jets.

Solar panel maker

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reduced its fourth-quarter and 2009 earnings figures, saying a strengthening dollar vs. the euro would hurt its results.


KB Home

(KBH) - Get KB Home Report

cut its quarterly dividend 75%, citing a goal of maintaining a strong financial position.

Another day brought additional earnings statements.

Time Warner


reported a slight drop in third-quarter earnings and reduced its 2008 earnings forecasts because of additional restructuring it expects to incur.

Bond insurer



reported a third-quarter loss that was substantially wider than a year ago. A bit later Wednesday, fellow insurer


(MBI) - Get MBIA Inc. Report

is expected to report.

Shifting to economic data, Automatic Data Processing reported that the U.S. lost 157,000 jobs in October. Economists had forecast a loss of 100,000 jobs. The ADP figure for September was revised to a loss of 26,000 jobs from an initial read of 8,000. Investors also will be taking in the Institute for Supply Management's services index.

As for commodities, crude oil was losing $1.91 to $68.62 a barrel. Gold was down $1.10 at $756.20 an ounce.

Longer-dated U.S. Treasury securities were mixed. The 10-year was flat in price, yielding 3.72%, and the 30-year was gaining 12/32 to yield 4.17%. The dollar was rising vs. the euro and pound but taking losses against the yen.

Overseas, European exchanges, including the FTSE in London and the DAX in Frankfurt, were trading lower. In

Asian markets

, Japan's Nikkei and Hong Kong's Hang Seng closed on the upside.