Stocks are lower today as earnings season quiets down and global
Before the opening bell, major US indices pointed to a lower open.
(INDEXDJX:.DJI) futures were down 0.34% to 15,432 while futures
contracts on the
(INDEXSP:.INX) sank 0.39% to 1,677.50 and
(INDEXNASDAQ:.IXIC) futures fell 0.23% to 3,043.00.
Later this morning, the July University of Michigan/Reuters
Consumer Sentiment guage is released. It is likely to have risen
just 0.1 point over the flash reading to 84.
The earnings schedule slows down a bit today. Yesterday,
) missed expectations as it continues to expand and invest in data
centers and video. Amazon booked a loss of $0.02 per share while
revenue rose 22% to $15.7 billion. As of this morning, shares were
(OTCMKTS:SSNLF) also missed on its bottom line, but profit rose 50%
to $6.8 billion. Shares declined 0.9% as margins for high-end
smartphones fell. The Korean electronics company will invest $18
billion in its memory and display units.
) agreed today to sell back 85% of its share in
). The video game maker will repurchase the shares for $5.83
billion. Activision's stock soared 18.25% on the news.
) announced second quarter profit of $0.55 per share, beating
expectations by $0.02 while revenue rose 13% to $3.7 billion. Same
store sales rose 8% worldwide despite some price hikes. Investors
applauded the company's results as the stock gained 7% after hours.
European shares are mostly in the red. Japan's
(INDEXNIKKEI:.NI225) fell 3% today as the yen rose against the
dollar after a mixed report on inflation. The deflation-fighting
policies are just starting to show results. Consumer prices rose
0.2% on a yearly basis last month after falling 0.3% in May. This
exceeded economists' expectations, but excluding volatile energy
and fresh food, consumer prices declined by 0.2%.