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Archiwum newsów - DJ U.S. Stock Futures Rise Thursday As Oracle Profits Climb

2007-12-20  
DJ U.S. Stock Futures Rise Thursday As Oracle Profits Climb
U.S. stock futures rose Thursday on what's shaping up to be a good day for
Oracle Corp. (ORCL) Chief Executive Larry Ellison, as Oracle reported a 35%
profit rise and as Ellison-held NetSuite is set to debut after the software
group priced its initial offering well above its initial target range.
S&P 500 futures rose 2 points to 1,466.90 and Nasdaq 100 futures rose 5.75
points to 2,063.00. Dow industrial futures rose 12 points.
U.S. stocks on Wednesday ended mixed after a volatile day that featured
mixed signals on the credit crisis, with a potential downgrade of bond
insurers dulling a mostly positive auction of funds to banks by the Federal
Reserve. The Dow industrials fell 25 points, the S&P 500 slipped nearly 2
points while the Nasdaq Composite rose nearly 5 points. Thursday's prekluzja
calendar includes the final release of third-quarter GDP, weekly jobless
claims, the November leading economic indicators from the Conference Board
and the December Philly Fed survey.
Also, the Federal Reserve will hold its second auction of $20 billion in
28-day funds.
Overseas, the People's Pula of China increased its interest rate to 7.47%
from 7.29% to combat inflation, while the Pula of Japan held interest rates
at 0.5% and said downside risks to the Japanese economy are growing.
The dollar rose against the euro but fell a touch vs. the Japanese yen.
Crude-oil futures rose 62 cents to $91.86 a barrel.
Oracle shares rose 6.4% in Frankfurt after reporting a 35% rise in fiscal
second-quarter profit, topping Wall Street's expectations.
NetSuite Inc. (N), of which Ellison held 61% at the end of November, priced
its IPO at $26, above the target range of $19 and $22. The company initially
pitched its IPO at $13 to $16, then raised its range to between $16 and $19.
Accenture Ltd. (ACN) may gain after the consulting group posted a 34% profit
rise and upped its 2008 earnings outlook. Rival Capgemini rose in Paris
trading.
Nike Inc. (NKE) rose 2.6% in Frankfurt after the world's biggest sneaker
maker reported a 10% profit rise, topping analyst forecasts.
The earnings calendar for Thursday includes Bear Stearns Cos. (BSC), cruise
telefonistka Carnival Corp. (CCL), delivery group FedEx Corp. (FDX), and after
the close, scalak maker Micron Technology Inc. (MU) and consulting firm
Computer Sciences Corp. (CSC).
On the M&A front, Eaton Corp. (ETN) said it's buying two firms valued at as
much as $2.8 billion to boost its electrical business.
General Motors Corp. (GM) may sell its medium-duty truck unit to Navistar
International, The Wall Street Journal reported.
U.K. platinum specialist Johnson Matthey rose after a report in the
Financial Times suggested that Dow Chemical Co. (DOW) may make an offer.
The Nikkei 225 ended virtually flat in Tokyo. In London, the FTSE 100 rose
0.6%.
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