With little data on the economic calendar, stock futures are
higher today as investors await the arrival of Twitter on public
Futures are heading higher after Tuesday's mixed trading day.
(INDEXDJX:.DJI) futures were up 0.44% at 15,619.00 while futures on
(INDEXSP:.INX) rose 0.51% to 1,765.50.
(INDEXNASDAQ:.IXIC) futures climbed 0.43% to 3,394.25.
) shares fell 11% since reporting better-than-expected earnings.
Its quarterly loss narrowed to $38 million from $111 million a year
ago while revenue climbed to $431 million from $50 million. Tesla
sold 5,500 Model S units to customers, which disappointed some
analysts. The detail that investors are taking issue with is that
Tesla is having trouble meeting growing demand. "We really are
production-constrained, not demand-constrained," said CEO Elon
) is likely to debut tomorrow on the
New York Stock Exchange
). It is expected to price its IPO today at $23 to $25 per share
with a float of 70 million shares, giving it a market
capitalization of at least $12.5 billion.
last night that
) is narrowing its search for a replacement for Steve Ballmer.
) CEO Alan Mulally is still on the list, as is Stephen Elop, the
former head of Nokia who Microsoft acqui-hired back. Big investors
Computer Sciences Corp
) CEO Mike Lawrie for his track record as a turnaround expert.
Ballmer's "device and services" strategy might be abandoned by the
(OTCMKTS:SSNLF) held its first analyst meeting in eight years
yesterday. The company said that it intends to raise its dividend
to 1% of the share price for 2013, payable next year.
"Our management feels that our current price-to-earnings multiple
does not fully reflect our profit growth and our leadership
position in the I.T. industry," said CFO Lee Sang-hoon. "Going
forward, we will put more emphasis on direct shareholder returns
while maintaining our strategy of growth."
Samsung is also considering listing an American depositary receipt
(ADR) which would make it much easier for US investors to bet on
(TM) saw profits surge 70% in the past quarter thanks to the weaker
yen and cost-cutting. Vehicle sales for the first nine months of
the year were 7.4 million, outpacing
(GM) as the top-selling automaker. Toyota expects to sell 9.1
million cars for the fiscal year ending in March.