| Upbeat on Wall Street Stock futures rose early Friday after Internet giant Google defied the economic slowdown and posted a hefty quarterly profit, good news that was balanced by more pain in financial sector results. About three hours before the market open, Nasdaq and S&P futures were higher and indicating a positive start for Wall Street despite mixed earnings results from the most recent company reports. Google (GOOG, Fortune 500) reported a 30% jump in quarterly profit late Thursday. The company also reported a rise in its paid clicks, quieting fears of slowing growth. Paid clicks measure how often users click on text ads. Google shares surged 15% in early trading in Stocks finished mixed Thursday as investors weighed a string of earnings. Merrill Lynch disappointed investors with a big loss while IBM turned in a solid performance. Citigroup (C, Fortune 500) showed there was still more pain in financial sector, as the nation's largest bank reported a loss of $5.1 billion loss that was worse than expected as it announced another $12.1 billion in writedowns. Caterpillar (CAT, Fortune 500), another stock in the Dow 30, also is due to post its quarterly results before the opening bell. |
No comments:
Post a Comment