NEW YORK (
) -- Stock futures pointed to a mixed open Wednesday as
slightly missed revenue expectations and
met earnings estimates.
Futures for the
Dow Jones Industrial Average
were down by 7 points, or 19 points above fair value, at 11,804. Futures for the
were lower by 3 points, or nearly a point above fair value, at 1,292, and
futures were off by a quarter of a point, or nearly 3 points above fair value.
Goldman Sachs surpassed analysts' fourth-quarter earnings estimates by 3 cents with a profit of $3.79 a share but missed revenue expectations. Revenue for the quarter was $8.64 billion, compared with the nearly $9 billion that Wall Street had been projecting. The stock was down 2.7% to $169.40 ahead of Wednesday's opening bell.
Wells Fargo met profit estimates with earnings of 61 cents a share and reported better than expected revenue of $21.5 billion, compared with the $20.98 billion that analysts had forecast. Shares were off by 2.4% at $31.75.
Stocks advanced Tuesday despite disappointing earnings from
and news that
CEO Steve Jobs will take a medical leave of absence.
Shares of Citigroup, however, were up 1% to $4.85 in early trading Wednesday after a
Wall Street Journal
report said the
bank is expected to name John Havens, leader of its institutional clients group, as its president and chief operating officer.
Apple shares were on the rebound Wednesday, up 1% to $343.80 in premarket trading after beating estimates with earnings of $6.43 a share on sales of $26.74 billion.
stock was also up in early trading
after a late Tuesday earnings beat. Shares were trading 2.5% higher at $154.45 after the company beat on the top and bottom line with earnings of $4.18 a share on sales of $29 billion.
were up 0.7% to $27.50 after it
surpassed expectations with earnings of 49 cents a share on sales of $4.7 billion. Analysts had been anticipating a profit of 46 cents a share on sales of $4.52 billion.
The market will also be watching for headlines coming out of Chinese President Hu Jintao's meetings with President Barack Obama during his four-day stay in the U.S.
Hong Kong's Hang Seng added 1.1% and Japan's Nikkei rose 0.4%. London's FTSE was shedding 0.4% and the DAX in Frankfurt was down by 0.1%.
The Commerce Department said housing starts slipped 4.3% in December to 529,000 from 553,000, previously, missing expectations for 550,000 starts. Meanwhile, building permits jumped 16.7% to 635,000, from 544,000 in November, surpassing the 560,000 permits that economists had expected for December.
In commodity markets, the February crude oil contract was trading 49 cents higher at $92.80 a barrel. The February gold contract was up by $4 to trade at $1,372.20 an ounce.
The dollar weakened against a basket of currencies with the dollar index down by 0.5%. The benchmark 10-year Treasury note fell 1/32, lifting the yield to 3.372%.
--Written by Melinda Peer in New York
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.