Market Set to Open Higher as Stock Futures Rise
The U.S. equity market is expected to open higher, with stock futures currently up. The Dow Jones Industrial Average futures are up 50 points at 11,116, the S&P 500 futures are up 7 points 1,186 and the Nasdaq 100 futures are up 8 points.
Humana Inc. (NYSE: HUM) reported its third-quarter financial results today. The company reported a 30% increase in its third-quarter profit. Humana reported third-quarter profit of $393.2 million, or $2.32 per share, up from $301.5 million, or $1.78 per share reported in the third quarter of 2009. The company’s third-quarter revenue increased 9.2% to $8.42 billion. Analysts were expecting Humana to report third-quarter profit of $1.66 per share and revenue of $8.46 billion. Shares of the Louisville, Kentucky-based company are up 1.73% to $59.30 in pre-market trading today.
Corning Inc. (NYSE: GLW) also reported its third-quarter financial results today. The company reported a 22% increase in third-quarter profit on the back of higher sales and margins. Corning reported third-quarter profit of $785 million, or $0.50 per share, up from $643 million or $0.41 per share reported in the third quarter of 2009. Excluding items, the company reported third-quarter profit of $0.51 per share. The company’s third-quarter revenue increased 8.3% to $1.6 billion. Analysts were expecting Corning Inc. to report third-quarter profit of $0.52 per share and revenue of $1.61 billion. The company’s gross margin improved from 40.5% to 45.2% in the third quarter of 2010. Shares of Corning are down 1.64% to $17.98 in pre-market trading.
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