Stocks: A big day for earnings

  @CNNMoneyInvest April 18, 2013: 9:08 AM ET
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It's another big day for corporate earnings, and so far it's been a mixed bag.

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

Nokia's (NOK) stock price dropped 7% in premarket trading after the Finnish cell phone company reported a 20% drop in quarterly sales.

Morgan Stanley's (MS, Fortune 500) reported better-than-expected earnings and revenue weakness in traditional trading revenue weighed on the stock. PepsiCo (PEP, Fortune 500) blamed a "devaluation of net monetary assets in Venezuela" for its quarterly profit slide.

Verizon (VZ, Fortune 500) beat earnings forecasts but missed on revenue.

IBM (IBM, Fortune 500), Google (GOOG, Fortune 500) and Microsoft (MSFT, Fortune 500) are scheduled to report earnings after the close.

Aside from earnings, Apple's (AAPL, Fortune 500) staged a modest comeback in premarket trading Thursday, a day after its stock fell nearly 6%. Apple was hampered by a negative sales forecast from iPhone supplieCirrus Logic (CRUS).

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Shares of Carnival Corp.'s (CCL) rose 2% in premarket trading after the cruise ship company said it planned to invest more than $600 million into fixing its disaster-prone toilets.

eBay (EBAY, Fortune 500) shares fell 3.5% in premarket trading Thursday after the online-auction site offered weak second-quarter guidance on Wednesday.

U.S. stocks closed lower Wednesday, as disappointing earnings sparked a broad sell-off.

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In economic news, the government said initial jobless claims increased by 4,000 to 352,000 in the week ended April 13. That was slightly below forecasts.

European markets rose in midday trading, as the German parliament reportedly backed a €10 billion bailout for Cyprus.

Asian markets ended mixed. The Shanghai Composite added 0.2%, while the Hang Seng declined 0.4% and the Nikkei lost 1.2%. To top of page

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Index Last Change % Change
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Nasdaq 4,161.46 39.91 0.97%
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Hewlett-Packard Co 31.77 -0.17 -0.53%
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