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Pre-Market Primer: Stocks Rebound on German Outlook; Samsung Profit Surges


And European banks will be repaying loans early.

Futures were up all across the board today as key companies report earnings.

Dow (INDEXDJX:.DJI) futures rose 0.25% to 13,816. After ending flat yesterday, S&P 500 (INDEXSP:.INX) futures are up 0.27% to 1,495.80. Nasdaq (INDEXNASDAQ:.IXIC) futures rebounded 0.40% to 2,729.50.

Shares of Proctor & Gamble (NYSE:PG), the world's biggest household products company rose 1.78% after it reported better-than-expected earnings. The company reported fiscal second quarter earnings per share of $1.22. Net income more than doubled to $4.06 billion. The company says that it plans to repurchase $5-6 billion of shares during this fiscal year.

Yesterday, Microsoft (NASDAQ:MSFT) reported $0.76 per share of earnings, meeting expectations. Net profits were down 3.7% to $6.38 billion. Thanks to the new release of Windows 8 during the quarter, the Windows division posted $5.3 billion in revenue, an 11% year-over-year increase.

Samsung (PINK:SSNLF) reported that net profit rose 75.6% to $6.6 billion last quarter on "solid sales" of the Galaxy S3 and Galaxy Note smartphones. However, the Korean company warned that it will not have the same runaway growth this year as it gets more aggressive on price points and demand for smartphones in mature markets decelerates.

Later this morning, the Commerce Department will report new home sales data for December. Economists project that new homes sold at a seasonably adjusted annualized rate of 385,000, up from 377,000 in November.

The euro hit an 11-month high of $1.3461 and shares in the region rallied on more positive data from Germany and troubled banks repaying loans early.

After yesterday's strong PMI numbers, Germany reported more data indicating that the biggest economy in the eurozone is on the mend. The Ifo business climate index, which surveys 7,000 German firms, rose 1.8 points to 104.2 this month, its highest level since June 2012. The European Central Bank also reported that the 278 banks that received 137 billion euros in emergency three-year loans a year ago will repay early.

Britain's GDP fell more than expected. The country's economy contracted by 0.3% in the last three months of 2012. Britain showed virtually no growth for the full year.

Japan's Nikkei (INDEXNIKKEI:.NI225) closed up 2.88% to a 32 month high of 10926.70 after the yen fell to 91.0 to the dollar, the weakest level for the currency since mid-2010. As the Bank of Japan struggles to contain deflation, consumer prices in the country fell 0.2% on a yearly basis last year.

US Treasury Secretary Timothy Geithner officially leaves office today. He will be replaced by Neal Wolin until the Senate confirms Jack Lew.

Twitter: @vincent_trivett
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