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Archiwum newsów - DJ US Stocks Seen Opening Higher As Oracle, Accenture Net Climb

2007-12-20  
Technologię odczytu dostarcza IVONA
ODSŁUCHAJ
DJ US Stocks Seen Opening Higher As Oracle, Accenture Net Climb
U.S. stock futures rose Thursday on what's shaping up to be a good day for
Oracle Chief Executive Larry Ellison, as Oracle reported a 35% profit rise
for its second quarter and as Ellison-held NetSuite is set to debut after
the software group priced its initial offering well above its initial target
range.
Recently, S&P 500 futures rose 4.9 points to 1469.8, and Nasdaq 100 futures
climbed 12.5 points to 2069.75. Dow industrial futures rose 32 points to
13330.
The gains came amid the government saying the U.S. economy grew at a 4.9%
annual pace in the third quarter, the fastest growth in four years. The 4.9%
final estimate was unrevised from the previous estimate and was in line with
expectations. The core personal consumption expenditure price index - the
Federal Reserve's favored gauge - rose at 2% annual rate in the quarter, not
the 1.8% previously reported
Seasonally adjusted initial jobless claims rose 12,000 to 346,000 in the
week ended Dec. 15, the government reported Thursday.
Still to come will be 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 versus the Japanese yen.
Crude-oil futures rose 9 cents to $91.30 a barrel.
Of companies in focus, Oracle shares rose 7.2% to $22.66 in pre-open trade
after reporting a 35% rise in fiscal second-quarter profit, topping Wall
Street's expectations.
NetSuite, 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 rose 5.7% to $36.95 in pre-open trade after the consulting group
posted a 34% profit rise for its first quarter and upped its 2008 earnings
outlook. Rival Capgemini rose in Paris trading.
Nike rose 2.7% to $65.50 in pre-open trade after the world's biggest sneaker
maker reported a 10% second-quarter profit rise, topping analyst forecasts
on a per-share basis.
Bear Stearns joined Morgan Stanley in reporting a quarterly loss, recording
an $854 million loss for its fourth quarter after writing down $1.9 billion
in mortgage-related losses. Stll, Bear was up 1.3% to $91.75.
FedEx fell 13 cents in pre-open trade after it reported a 6% profit fall for
the second quarter, which was hit by rising fuel costs and weakness in the
U.S. economy.
Ruth's Chris Steak House dropped 15% in pre-open trade to $8.40, after
blaming a weaker economy for a lower of its earnings outlook.
On the M&A front, Eaton said it's buying two firms valued at as much as $2.8
billion to boost its electrical business.
General Motors 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 may make an offer.
The Nikkei 225 ended virtually flat in Tokyo. In London, the FTSE 100 rose
0.6%.
U.S. stocks 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 and the S&P 500 slipped nearly 2 points,
while the Nasdaq Composite rose nearly 5 points.
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