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Market Comments & Wrap-Ups
- 1/28/2009 2:23:47 AM
By Chip Brian, SmarTrend Analytics Team
Last updated January 27th, 2009 6:50 AM ET---Today, U.S. stock futures are trading mixed as investors weigh a number of earnings results. Following Monday's close, Timothy Geithner was finally approved by the Senate, winning by a 60 to 34 vote, and sworn in as Treasury Secretary. The only economic report today is the January consumer confidence reading slated for release at 10:00 a.m. Companies reporting today include Verizon Communications (NYSE:VZ) and EMC Corp (NYSE:EMC) while Yahoo (NASDAQ:YHOO). Japanese broker Nomura Holdings (NYSE:NMR) reported a quarterly loss of $3.8 billion after investments with Bernard Madoff. DuPont (NYSE:DD) announced Tuesday morning that it swung to a fourth-quarter loss of $629 million, or 70 cents per share, versus a profit of $545 million, or 60 cents per share in the year-ago period. However, ex-items, the loss would have only been 28 cents, still missing estimates of 20 cents per share. The chemical giant also said it was cutting its '09 guidance to a range of $2 and $2.50 per share, down from its previously given outlook range of $2.25 and $2.75 per share. Analysts had been expecting $2.22 per share in 2009. Texas Instruments (NYSE:TI) announced it would cut 3,400 jobs, meanwhile IBM (NYSE:IBM) cut 2,800 positions in sales last week. At the time of this report, S&P futures are up 3.00 points, Nasdaq futures are down 1 point and Dow futures are up 46.00.
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