Investing.com – U.S. stock futures pointed to a modestly higher open on Wednesday, as shares in computer manufacturer Dell soared after strong earnings, while gains were limited as shares in retail bellwether Staples plunged.
Dow Jones Industrial Average futures pointed a modest gain of 0.15%, the S&P 500 futures added 0.1%, while Nasdaq 100 futures edged 0.08% higher.
The second largest U.S. computer maker Dell saw shares jump 6.2% in pre-market trade after it said first quarter profit nearly tripled from a year earlier, as a mix of cost cutting and improved service revenues helped it beat market expectations.
Shares in semiconductor manufacturer Analog Devices rose 4.1% after it reported an 18% increase in second quarter revenue to USD790.8 million, beating expectations for revenue of USD746.5 million.
The world’s largest farm-equipment maker Deere & Company added 0.8% after it lifted its full-year sales outlook by 20%, citing increased demand from emerging markets. For the current quarter, the company reported a 65% gain in profit.
Shares in the second largest U.S. discount retailer Target gained 1% after its first quarter earnings topped beat expectations, helped by strength in its credit card business, which offset weak sales at its retail operations.
Clothing retailer Abercrombie & Fitch saw shares climb 3.5% after it swung to a first quarter profit of USD25.1 million from a loss of USD11.8 million in the preceding quarter. Sales in the quarter jumped 22% to USD836.7 million, boosted by strong international sales.
On the downside, the world’s largest office-supply retailer Staples saw shares plunge 12.2% after it reported lower-than-expected first quarter earnings and cut its profit outlook for the year, citing higher costs and weak demand for office supplies in the U.S.
Shares in Hewlett-Packard extended sharp losses from the previous session, slumping 1% after JP Morgan downgraded the stock to ‘neutral’, following Tuesday’s disappointing earnings results.
Meanwhile, shares in raw material producers, such as Alcoa and Freeport McMoran Copper & Gold could be active as commodity prices advanced.
Across the Atlantic, European stock markets rebounded from a four-week low as shares in the financial and commodity sectors led gains. The EURO STOXX 50 added 0.3%, France’s CAC 40 gained 0.5%, Germany's DAX edged up 0.2%, while Britain's FTSE 100 rose 0.55%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1% higher, boosted by strong gains in the banking sector.
Later in the day, the Federal Reserve was to publish the minutes of its last policy meeting.
Dow Jones Industrial Average futures pointed a modest gain of 0.15%, the S&P 500 futures added 0.1%, while Nasdaq 100 futures edged 0.08% higher.
The second largest U.S. computer maker Dell saw shares jump 6.2% in pre-market trade after it said first quarter profit nearly tripled from a year earlier, as a mix of cost cutting and improved service revenues helped it beat market expectations.
Shares in semiconductor manufacturer Analog Devices rose 4.1% after it reported an 18% increase in second quarter revenue to USD790.8 million, beating expectations for revenue of USD746.5 million.
The world’s largest farm-equipment maker Deere & Company added 0.8% after it lifted its full-year sales outlook by 20%, citing increased demand from emerging markets. For the current quarter, the company reported a 65% gain in profit.
Shares in the second largest U.S. discount retailer Target gained 1% after its first quarter earnings topped beat expectations, helped by strength in its credit card business, which offset weak sales at its retail operations.
Clothing retailer Abercrombie & Fitch saw shares climb 3.5% after it swung to a first quarter profit of USD25.1 million from a loss of USD11.8 million in the preceding quarter. Sales in the quarter jumped 22% to USD836.7 million, boosted by strong international sales.
On the downside, the world’s largest office-supply retailer Staples saw shares plunge 12.2% after it reported lower-than-expected first quarter earnings and cut its profit outlook for the year, citing higher costs and weak demand for office supplies in the U.S.
Shares in Hewlett-Packard extended sharp losses from the previous session, slumping 1% after JP Morgan downgraded the stock to ‘neutral’, following Tuesday’s disappointing earnings results.
Meanwhile, shares in raw material producers, such as Alcoa and Freeport McMoran Copper & Gold could be active as commodity prices advanced.
Across the Atlantic, European stock markets rebounded from a four-week low as shares in the financial and commodity sectors led gains. The EURO STOXX 50 added 0.3%, France’s CAC 40 gained 0.5%, Germany's DAX edged up 0.2%, while Britain's FTSE 100 rose 0.55%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1% higher, boosted by strong gains in the banking sector.
Later in the day, the Federal Reserve was to publish the minutes of its last policy meeting.