Stocks Gaining on Bullish Earnings, Benign Employment


Stock futures are holding onto early gains following a weaker than expected jobs report in which September non-farm payrolls rose by a less than expected 148,000 versus the consensus estimate of a 185,000 gain. Although the jobless rate declined 0.1% to 7.2%, the overall employment situation will continue to keep the Fed sidelined in regard to their monthly asset-purchase program which has been providing ample liquidity to the financial markets.

Also contributing to the bullish environment for equities is the continued decline in Treasury yields where the 10-year yield is down another 6 basis points to 2.55%, and cheaper energy prices as the price of crude oil continues to trade below $100 per barrel.

Along with the employment situation, earnings will also hold center stage with upbeat third quarter results from Netflix ( NFLX ) and DuPont ( DD ) contributing to this morning's modest gains. Amid the flood of earnings expected throughout the day today is Amgen ( AMGN ), Broadcom ( BRCM ) and Juniper Networks ( JNPR ).

-Dow Jones Industrial up 0.31%

-S&P 500 futures up 0.24%

-Nasdaq 100 futures up 0.40%


Nikkei up 0.13%

Hang Seng down 0.52%

Shanghai Composite down 0.83%

FTSE-100 up 0.27%

DAX-30 up 0.08%


(+) Large cap tech: higher

(+) Chip stocks: mixed

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+/-) Retail stocks: flat

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos higher


PTIE (+24.00%) Pain Therapeutics's partner Pfizer Inc. (PFE) said it will continue with clinical studies for Remoxy, a pain reliever for moderate-to-severe pain.

DAL (+3.20%) Reported Q3 adjusted net income of $1.2 billion, or $1.41 per diluted share, topping the consensus forecast for $1.36 on Capital IQ.

FRX (+2.69%) Reported earnings of $0.36 per share in Q2 2013, up from $0.15 per share in Q2 2013.

NFLX (+7.80%) Reports Q3 revenue of $1.10 bln, in line with the analyst consensus on Capital IQ. EPS was $0.52, vs. expectations of $0.49 per share.


RSH (-4.26%) Q3 loss widened to $112 million, or $1.11 per diluted share, from a loss of $47 million, or $0.47 per share, in the year ago period, falling far short of analysts' estimates of a loss of $0.36 per share

LTBR (-10.32%) Priced a direct sale of 2.5 million units at $1.75 per unit.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: AMGN , BRCM , DD , JNPR , NFLX

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