Market news
20.10.2011, 13:00

Before the bell: S&P futures +0.5%, Nasdaq futures +0.3%

 

U.S. stock futures rose, after yesterday’s drop in benchmark gauges.
U.S. stock futures trimmed gains after data showed the number of American filing applications for unemployment benefits declined last week. Jobless claims dropped by 6K to 403K in the week ended Oct. 15, Labor Department figures showed today in Washington. The median forecast was for a drop to 400K applications.
Another report today is likely to show that sales of existing U.S. homes fell in September, extending a pattern of gains and losses that indicates the industry is being buffeted by a lack of jobs and confidence, economists said.
Company news:
Shares of AT&T (T) slip 2% premarket after missing EPS estimates by $0.07 on lower revenue from last year's comparable. Wireless data revenue grew 18% Y/Y as the company says it booked a 2.1M increase in total wireless subscribers. A soft area was iPhone sales, AT&T only activated 2.7M iPhones in Q3 - marking the lowest quarterly number in over a year and a half.

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