U.S. stock futures edged higher Friday, as Federal Reserve Chairman Ben Bernanke was confirmed for a second term. But still ahead are GDP figures, which Wall Street will focus on to get a clearer picture of economic activity.
S&P 500 futures rose 4 points to 1083.20 and Nasdaq 100 futures climbed 7 points to 1777.50. Futures on the Dow Jones Industrial Average added 37 points ahead of the last trading session of the month.
Juniper Networks Inc.’s (JNPR) fourth-quarter profit slipped 1.1% on higher stock-compensation costs as the networking company handily topped expectations. Juniper Networks, Inc. (NYSE:JNPR, $24.49, -$0.53, -2.12%) rose 6.98 percent to $26.20 on Friday morning pre-market trading session, while on Thuesday, shares of Juniper Networks fell 2.12 percent, closed on $24.49.
Consumer products maker Newell Rubbermaid Inc posted a fourth-quarter profit as cost cutting and lower raw materials prices helped the company raise its margins and offset lackluster sales. Newell Rubbermaid Inc. (NYSE:NWL, $14.20, -$0.06, -0.42%) dropped 1.41 percent to $14.00 on Friday morning pre-market trading session, even on Thursday, Newell Rubbermaid shares were down 0.42 percent, closed on $14.20.
The maker of chips for telecommunications equipment PMC-Sierra Corp.’s (PMCS) fourth-quarter profit rose 72%, topping Wall Street estimates, on improved revenue and margins. PMC-Sierra, Inc. (NASDAQ:PMCS, $7.76, -$0.21, -2.63%) rose 7.60 percent to $8.35 on Friday morning pre-market trading session, while on Thuesday, shares of PMC-Sierra fell 2.63 percent, closed on $7.76.
Toys maker Mattel Inc. (MAT) on Friday posted a 86% upsurge in the fourth quarter profit, boosted by holiday sales of its popular brands such as Barbie and Hot Wheels besides lower costs. The El Segundo, California-based company’s fourth-quarter net income was $328.4 million or $0.89 per share, compared to $176.4 million or $0.49 per share in the year-ago quarter. Mattel, Inc. (NASDAQ:MAT, $20.04, +$0.08, 0.40%) jumped 2.20 percent to $20.48 on Friday morning pre-market trading session, even on Thursday, Mattel shares were up 0.40 percent, closed on $20.04.
Robert Half International Inc. (RHI) said its fourth-quarter profit dropped a less-than-feared 65% on the year as the staffing company said demand is improving. Robert Half International Inc. (NYSE:RHI, $26.84, -$0.05, -0.19%) rose 2.76 percent to $27.58 on Friday morning pre-market trading session, while on Thuesday, shares of Robert Half fell 0.19 percent, closed on $26.84.
Honeywell International Inc.’s (HON) fourth-quarter earnings fell 1.3% as cost savings mitigated continued weakness in some of its primary markets, although its transportation-systems business turned around. The company, which makes aircraft engines and automation and transportation products, was encouraged by improving order trends and stabilization in many of its markets, said Chairman and Chief Executive Dave Cote, although customers in the aerospace and building-equipment sectors continued to delay restocking thin inventories. Honeywell International Inc. (NYSE:HON, $39.82, -$0.44, -1.09%) dropped 2.44 percent to $38.85 on Friday morning pre-market trading session, even on Thursday, Honeywell shares were down 1.09 percent, closed on $39.82.
Quantum Corp. (QTM) swung to a fiscal-third-quarter profit, despite an 11% drop in revenue, but the software storage and backup company missed analysts expectations for earnings. Quantum Corp. (NYSE:QTM, $3.06, +$0.03, 0.99%) fell 11.76 percent to $2.70 on Friday morning pre-market trading session, while on Thuesday, shares of Quantum Corp. rose 0.99 percent, closed on $3.06.