Quarterly Earnings in Focus
07-May-13 09:00 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +0.50. U.S. equity futures trade with modest gains amid generally positive overseas trade where Germany's DAX leads key European indices higher after the country's factory orders surprised to the upside.
Domestically, with no economic data of note, investors are reacting to quarterly earnings. Notably, Fossil (FOSL 103.50, +4.54) is higher by 4.6% following its better-than-expected earnings report. However, the company lowered its second quarter and full-year earnings guidance below consensus.
Elsewhere, DIRECTV (DTV 60.00, +2.04) adds 3.5% after beating on earnings.
In other corporate news of note, Baxter (BAX 67.92, -2.39) is down 3.4% after its Phase III study of immunoglobulin did not yield the desired trial results.
Today's lone economic data point will come in the form of March consumer credit with the report set to be released at 15:00 ET.
The U.S. Treasury will auction $32 billion in 3-yr notes.