Stocks: Investors step back ahead of earnings

  @CNNMoneyInvest February 6, 2013: 8:28 AM ET
sp500 futures 754

Click on chart for more premarkets data.

NEW YORK (CNNMoney)

Investors are bracing for another batch of quarterly earnings Wednesday, as the Dow and S&P 500 hover below all-time highs.

U.S. stock futures were slightly lower ahead of the opening bell.

CNNMoney parent Time Warner (TWX, Fortune 500) posted better-than-expected earnings, sending shares 4% higher in premarket trading. The media conglomerate also announced it will raise its dividend by 11% to 28.75 cents a share.

Shares of Irish neuroscience biotech company Elan (ELN) rose nearly 4% after the company reported strong earnings and said it would pay $3.25 billion to end its collaboration with Biogen Indec (BIIB, Fortune 500).

Expedia (EXPE) shares gained more than 1%, a day after the online travel site posted strong results, helped by higher hotel bookings.

Investors are starting to worry about the latest phone launch from BlackBerry (BBRY), formerly known as Research in Motion. News outlets reported short or nonexistent lines Tuesday at stores in the phone maker's home country of Canada.

Michael Dell's journey to take back Dell

Hewlett-Packard (HPQ, Fortune 500) shares continued to rally in premarket trading for a second day, following its publicly stated threat to steal customers away from Dell (DELL, Fortune 500), which announced plans to go private.

News Corp. (NWSA, Fortune 500), Yelp (YELP) and Green Mountain Coffee Roasters (GMCR)s are up after the bell.

Related: Individual investors are still nervous

Disney (DIS, Fortune 500) shares rose more than 3% in premarket trading, a day after the media company reported earnings and revenues that beat analysts' forecasts.

Zynga's (ZNGA) results also came in ahead of forecasts late Tuesday, sending the shares up 7% in premarket trading Wednesday morning.

U.S. stocks finished higher Tuesday on the strength of solid corporate results.

Related: Fear & Greed Index reaches 'extreme greed'

Markets in Asia were led higher by the Nikkei, which surged 3.8% and closed at its highest level since 2008 on hopes that the yen will continue to weaken.

The rally was helped by news that Bank of Japan Governor Masaaki Shirakawa will step down from his post sooner than expected. The country's central bank has been under intense political pressure to engage in further monetary easing. Meanwhile, the Shanghai Composite added 0.1% and Hong Kong's Hang Seng gained 0.5%.

European markets were mixed in morning trading on Wednesday. Steel giant ArcelorMittal (AMSYF)reported it was seeing "positive indicators," despite the fragility of the European economy and operating profit should rise in 2013. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,442.80 34.26 0.21%
Nasdaq 4,100.34 4.82 0.12%
S&P 500 1,868.12 3.27 0.18%
Treasuries 2.70 -0.02 -0.77%
Data as of 10:23am ET
Company Price Change % Change
Facebook Inc 60.49 1.55 2.63%
Micron Technology In... 25.06 1.15 4.81%
Bank of America Corp... 16.15 0.00 0.00%
Pfizer Inc 30.70 0.45 1.50%
Newmont Mining Corp 25.23 1.69 7.18%
Data as of 10:07am ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.