Seeking Alpha
Profile| Send Message| ()  

U.S. PRE-MARKET INDICATORS

-Dow Industrial futures up 80 points.

-S&P 500 futures up 10 points.

-Nasdaq 100 futures up 20 points.

-Nasdaq-100 Pre-Market Indicator up 22.8 at 1358.52

GLOBAL SENTIMENT

Nikkei up 1.4%

Hang Seng up 2.3%

FTSE flat

PRE-MARKET SECTOR WATCH

(+) Large cap tech: firmer

(+) Chip stocks: firmer

(-,+) Small cap stocks: mixed

(+,-) Drug stocks: mixed

(+) Software stocks: firmer

(+) Internet stocks: higher

(+) Financial stocks: firmer

(+) Auto stocks: higher

(+) Airline stocks: firmer

(+) Retail stocks: mostly firmer

UPSIDE MOVERS

(+) Apple (AAPL) (+3.5%) sees continued upside reaction to earnings beat.

(+) eBay (EBAY) (+6.8%) sees continued upsdie reaction to earnings beat.

(+) Fifth Third Bank (FITB) (+13%) posts smaller-than-expected loss.

(+) Conoco-Phillips (COP (+3.5%) beats with Q1 results.

(+) Credit Suisse (CS) (+11%) issues better-than-expected results.

(+) Acorda Therapeutics (ACOR) (+18.6%) resubmits NDA for Fampridine-SR.

(+) Royal Caribbean Cruises (RCL) (+11.3%) loss narrows.

DOWNSIDE MOVERS


(-) United Parcel Service (UPS) (-3.2%) misses with Q1 and guides below Street.

(-) Parkway Properties (PKY) (-8%) selling shares.

(-) CIT Group (CIT) (-7.7%) misses and suspends dividend.

MARKET DIRECTION

Stock futures remain higher as Wall Street cheers better-than-expected results from Apple (AAPL) out in the extended-hours period last night. Fifth-Third Bank (FITB) is up sharply after its results this morning, leading gains for the broader financials sector. Optimism from Apple's (AAPL) beat is so far trumping a more worrisome result from economic-beacon UPS (UPS).

Equity futures held the bulk of their gains even as the latest tally of weekly jobless claims was reported up 27,000 to 640,000. Wall Street economists expected the rebound from last week's decline.

First-time claims for state unemployment benefits rose a seasonally adjusted 27,000 to 640,000 in the week ended April 18, the Labor Department reported Thursday.

The less-volatile four-week average of initial claims fell 4,250 to 646,750 in the most recent weekly data. Initial claims fell a revised 47,000 in the prior week.

For the week ended April 11, the number of people collecting state unemployment benefits reached yet another new record, rising 93,000 to 6.14 million -- more than double the level in the prior year.

As for company news, key earnings beats extended to financials, tech and oil services.

ConocoPhillips (COP) reports Q1 EPS of $0.56 per share, better than expectations of $0.42 per share. Revs were $30.7 bln, ahead of the Street view of $26.3 bln.

Fifth Third Bancorp (FITB) reports a Q1 loss of $0.04 per share. The Street was looking for a loss of $0.27 per share.

Apple (AAPL) is up nearly 4% in early pre-market trading after reporting a stronger-than-expected 15% rise in Q1 profit due to iPod and iPhone sales.

eBay (EBAY) also reported last evening. Shares are up 6% in pre-market action.
It beat with its results in last evening's extended hours, while Q2 guidance straddles the Street view.

On the downside:

UPS (UPS) reports Q1 adjusted EPS of $0.52 per share, four cents below the Street view. Revs were $10.9 bln, south of expectations of $11.4 bln.

For Q2, the company guides for EPS of $0.45 to $0.55 per share, below estimates of $0.65 per share, according to Thomson Reuters.

Microsoft (MSFT) and Amazon.com (AMZN) are among those firms due to report after the bell later today.

Source: Thursday's Pre-Market Report: