Market Morning: Deal or No Deal in Greece
NEW YORK (
) -- U.S. stock futures were lower Friday and European shares were down after eurozone finance ministers said Greece didn't go far enough with austerity cuts that would make it qualify for a €130 billion ($170 billion) bailout.
Markets believed Greece reached a debt deal on Thursday. But the finance ministers said Greece didn't go far enough and have given the country a few more days to find an €325 million ($430 million) more of spending cuts and get parliament to approve the measures, according to
The Associated Press
.
Most Asian markets posted declines on Friday.
U.S. stocks rose Thursday on optimism that Greece wouldn't default on its debts and on another sign of a better domestic jobs market.
The
Dow Jones Industrial Average
on Thursday added 6.5 points, or 0.1%, to 12,890. The
S&P 500
rose 2 points, or 0.2%, to 1,352, while the
Nasdaq
gained 11.4 points, or 0.4%, to 2,927.
The economic calendar in the U.S. on Friday includes trade balance data for December at 8:30 a.m. EST, the initial University of Michigan consumer sentiment gauge for February at 9:55 a.m. , and the Treasury Department's budget report for January at 2 p.m.
NYSE Euronext
(NYX)
said fourth-quarter profit declined as it incurred costs related to the failed merger with Germany's
Deutsche Boerse
.
NYSE Euronext, the operator of the New York Stock Exchange, earned $110 million, or 43 cents a share, in the fourth quarter, down from year-earlier profit of $135 million, or 51 cents.
The latest period included $46 million of costs from the collapsed deal with Deutsche Boerse.
Excluding the charges and other items, earnings in the quarter were $130 million, or 50 cents a share, compared with $120 million, or 46 cents, last year.
(LNKD)
, the business social networker ,
beat the consensus profit view for its fiscal fourth quarter and provided a solid outlook
.
LinkedIn reported non-GAAP earnings of $13.3 million, or 12 cents a share, for the quarter ended in December on revenue of $167.7 million. It had revenue of $81.7 million a year earlier.
Analysts polled by Thomson Reuters expected earnings of 7 cents a share in the company's fiscal fourth quarter on revenue of $159.7 million.
Activision Blizzard
(ATVI) - Get Report
, the game maker,
beat Wall Street's fourth-quarter earnings expectations
, posting a profit of 62 cents a share on revenue of $2.41 billion.
Activision saw strong sales in the quarter of its core
World of Warcraft
and
Call of Duty
franchises.
Revenue declined 5% from a year earlier.
Analysts were looking for earnings of 56 cents a share on revenue of $2.2 billion.
-- Written by Joseph Woelfel
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Joseph Woelfel
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