U.S. stock futures advanced Friday morning, indicating Wall Street is ready to reverse the negative trend of the last few days. Several strong and better-than-expected company reports late Thursday contributed to the changing atmosphere as investors regained confidence in companies’ profit prospects.
S&P 500 futures recently rose 6.3 points to 1100.5, and Nasdaq 100 futures gained 9.2 points to 1794.8. Futures on the Dow Jones Industrial Average rose 49 points to 10321.
Concerns over rising interest rates, FedEx Corp.’s (FDX) outlook and the health of Greece’s finances combined to send U.S. stocks lower and the dollar higher on Thursday, with the Dow Jones Industrial Average dropping 132 points, the Nasdaq Composite dropping 26 points and the S&P 500 falling 13 points.
Boeing (BA) will be in the spotlight as Irish carrier Ryanair (RYAAY) ended talks about buying 200 planes. The Boeing Company (NYSE:BA, $54.47, -$0.66, -1.20%) rose 0.33 percent to $54.65 on Friday morning pre-market trading session, while on Thursday, shares of Boeing fell 1.20 percent, closed on $54.47.
Palm’s fiscal second-quarter loss–its 10th in a row–narrowed sharply as big tax charges a year earlier masked the effects of lower revenue this year. Palm, Inc. (NASDAQ:PALM, $11.72, +$0.11, 0.95%) dropped 9.22 percent to $10.64 on Friday morning pre-market trading session, while on Thursday, Palm shares jumped 0.95 percent, closed on $11.72.
Quiksilver Inc.’s (ZQK) fiscal fourth-quarter loss widened as the retailer posted sharply lower sales and margins, though the results topped the company’s estimates. The outdoor-sports apparel and accessories maker also projected revenue for the current period slightly below analysts’ estimates, while the per-share loss estimate was in line. Quiksilver, Inc. (NYSE:ZQK, $1.69, -$0.01, -0.59%) rose 2.37 percent to $1.73 on Friday morning pre-market trading session, while on Thursday, shares of Quiksilver fell 0.59 percent, closed on $1.69.
Accenture PLC’s (ACN) fiscal first-quarter profit slid 7.3% on lower revenue, but the company noted “building momentum in key areas of the business.” The consulting and outsourcing company forecast second-quarter revenue below Wall Street’s expectations, though it raised its fiscal-year earnings guidance. Accenture Plc (NYSE:ACN, $41.66, -$0.18, -0.43%) dropped 2.06 percent to $40.80 on Friday morning pre-market trading session, even on Thursday, Accenture shares were down 0.43 percent, closed on $41.66.
Carnival (CCL) edged up in London ahead of earnings, as investors wait to hear if the cruise ship operator resumes paying dividends. Carnival Corporation (NYSE:CCL, $33.36, -$0.46, -1.36%) fell 3.03 percent to $32.35 on Friday morning pre-market trading session, even on Thursday, shares of Carnival declined 1.36 percent, closed on $33.36.
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