Comtex SmarTrend Opening Bell Comments -- July 30,2010 (DJI,INX,IXIC)
U.S. stock futures are trading lower Friday as investors await the government's first reading on GDP, which is expected to confirm that the recovery slowed in the second quarter. On average, economists expect that the economy grew at an annual rate of 2.5%, slower than the 2.7% expansion in the first quarter. In corporate news, Newell Rubbermaid (NYSE:NWL) reported Q2 EPS of 51 cents, topping consensus estimates of 44 cents. Revenues were flat year-over-year at $1.50 billion, and just under consensus estimates of $1.52 billion. Coventry Health Care (NYSE:CVH) posted Q2 earnings before the opening bell Friday morning, reporting operating revenue of $2.9 billion and net earnings of $1.0 billion, or $0.01 per share. The Dow Jones Industrial Average (DJI) futures are trading 40.00 points below fair value, the S&P500 (INX) futures are trading 5.40 points below fair value, and the Nasdaq Composite (IXIC) futures are trading 5.75 points below fair value.
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