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Stock Futures Mixed; Travelers, DuPont Post Better Than Expected Results

Tuesday, January 22, 2013 8:52 AM
U.S. stock futures are pointing towards a mixed start on Tuesday as investors, after a long weekend, refocus on the earnings season with quarterly report from International Business Machines Corp. (NYSE: IBM), and Google Inc. (NASDAQ: GOOG) keenly anticipated. Investors will also closely monitor U.S. economic data this week. At last check, futures on Dow Jones Industrial Average Index slipped 0.06%; those on NASDAQ 100 gained 0.18% while futures on S&P 500 Index inched up 0.02%. On economic news front, at 8:30 a.m. EST, the Chicago national activity index is slated to be released at 8:30 a.m. Eastern Later at 10 a.m. EST, existing-home sales is due. Economists polled by MarketWatch are expecting sales of 5.10 million for December against 5.04 million in the earlier month. On Tuesday investors can expect avalanche of earnings results. Some of the big names include: Johnson & Johnson (NYSE: JNJ), IBM, Google and Texas Instruments Inc. (NASDAQ: TXN). DuPont posted better than expected quarterly results. DuPont reported fourth-quarter earnings per share (non-GAAP) of 11 cents on of revenue of $7.3 billion. Analysts polled by Thomson Reuters were expecting earnings (excluding-items/ Non GAAP) of 7 cents a share on revenue of $7.3 billion. Shares of Verizon Communications Inc. (NYSE: VZ) fell in premarket trading after the company reported a fourth-quarter loss per share of $1.48. Excluding-items the company reported fourth-quarter earnings per share were 38 cents. Despite devastating storm hurricane Sandy, Travelers Companies Inc. (NYSE: TRV) posted better than expected results. The Insurance Company reported fourth-quarter adjusted earnings of 72 cents a share on Tuesday, against $1.51, in the year earlier quarter.Revenue during the period stood at $5.38 billion. Analysts polled by Thomson Reuters had expected Travelers to report earnings excluding items of 14 cents a share on $5.34 billion in revenue. Elsewhere in Asia , equities ended mainly lower with Nikkei falling 0.35% for the day. In Europe mainly all leading benchmark indexes traded in red territory with Pan European Stoxx 600 slipping 0.11%, at last check.
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