Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Pre-Market Primer: China Growth Accelerates; GE Beats


Japan is getting closer to a non-independent central bank.

Stock future are mostly higher today on mixed earnings and signs that Chinese economic growth is re-accelerating.

Today, the Reuter's/University of Michigan consumer sentiment index will be released at 9:55 a.m. EST. Experts predict that the index will fall 5.5 points to 75.0, showing that consumers are less optimistic this month.

Stock futures fluctuated between gains and losses this morning following Thursday's gains. Dow (INDEXDJX:.DJI) futures were up 0.05% at 13,549. Futures contracts on the S&P 500 (INDEXSP:.INX) rose 0.05% to 1,476.50 and Nasdaq (INDEXNASDAQ:.IXIC) futures slipped 0.24% to 2,734.00.

Asian shares rallied overnight. Japan's Nikkei (INDEXNIKKEI:.NI225) surged 2.86% as the Bank of Japan seems to be caving to pressure from the government to fight deflation and devalue the yen.

Chinese stocks also rose today, helped by a better-than-expected report on fourth quarter GDP. The Chinese economy grew by 7.9% year-over-year, an improvement over the third quarter's 7.4% gain. China was helped by strong industrial production, consumer spending, trade, and fiscal stimulus from the government in the last three months of 2012. For the full year, the economy grew by 7.8%, the slowest rate of GDP growth the country had since 1999.

Economic bellwether General Electric (NYSE:GE) beat earnings expectations. Adjusted income grew by 13% to $0.44 per share on revenue of $39.3 billion. GE's unit that makes jet engines grew 22% and it's oil and gas business grew by 14%. GE Capital, its financial services arm, showed a 6% improvement despite it being scaled back lately. Shares of the company rose 3.66% in pre-market trading.

Intel (NASDAQ:INTC) reported a 3% drop in sales last quarter and warned that the current period may see revenue drop further. The chipmaker earned $0.48 per share on $13.5 billion in sales in the last three months of 2012. With demand for PCs dwindling, Intel sees revenue increasing by "a low single-digit percentage" in 2013. Intel currently dominates the market for PC chips, but lags far behind rivals in mobile computing.

Research In Motion (NASDAQ:RIMM) shares rose 6% this morning after Jefferies upgraded the stock to buy from hold. The company is soon to release the long-awaited BlackBerry 10 smartphone.

Capital One Financial (NYSE:COF) fell 6% this morning after reporting higher loan losses and disappointing fourth quarter profits. The company earned $843 million, or $1.41 per share, falling short of analyst projections of $1.59 per share.

Twitter: @vincent_trivett
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Featured Videos