The following companies were scheduled to report earnings this afternoon: None.
Futures are lower after hours: S&P 500 futures are -21.00 vs. fair value of 2,511 and Nasdaq-100 futures are -112.38 vs. fair value of 6,375.
Tomorrow morning, economic reports scheduled to be released include: MBA Mortgage Applications Index (07:00am ET, Consensus NA vs. NA in the prior week), ADP Employment Change (08:15am ET, Consensus 170K vs. 179K in the prior week), Continuing Claims (08:30am ET, Consensus NA vs. 1701K in the prior week), Initial Claims (08:30am ET, Consensus 220K vs. 216K in the prior week).
The following companies are scheduled to report earnings tomorrow morning: UNF, SMPL.
In corporate news, shares of Apple (AAPL) tanked 7% after hours after lowering its first quarter sales to $84 billion, down from $89-93 billion, which also now comes in below current expectations.
The company also lowered its gross margin guidance to 38% from 38.0-38.5%, op-ex to $8.7 billion from $8.7-8.8 billion. The company said, "While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China. In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad."