Morning Market Update: Feb 19, 2010: Amerigroup Corporation (NYSE:AGP), Interline Brands (NYSE:IBI)

U.S. stock futures are trading lower Friday after the Federal Reserve raised the interest rate that it charges banks for emergency loans, surprising investors. Investors fear that the Fed's move will raise the borrowing costs and slow the economic recovery. However, the Fed said that its action should not be seen as a sign that it will soon raise rates for consumers and businesses. In corporate news, Amerigroup Corporation (NYSE:AGP) reported Q4 EPS of $0.79, topping consensus estimates of $0.28. Sales in the quarter rose 18% year-over-year to $1.36 billion, inline with consensus estimates of $1.36 billion. Interline Brands (NYSE:IBI) reported Q4 EPS of $0.19, in line with consensus estimates. Revenues for the quarter fell 8.3% year-over-year to $254.6 million, edging out consensus estimates of $254.5 million. The Dow Jones Industrial Average (DJI) futures are trading 31.00 points below fair value, the S&P500 (INX) futures are trading 5.00 points below fair value, and the Nasdaq Composite (IXIC) futures are trading 3.75 points below fair value.