Weak Earnings and Higher Jobless Claims: Morning Buzzers
U.S. stock futures were down on Thursday morning as a number of earnings come in weaker than expected, and initial unemployment claims increase more than anticipated.
At 8:45 a.m.: DJIA: -0.08%, S&P 500: -0.13%, NASDAQ: -0.32%.
Facebook (NASDAQ:FB) was off about 5.3 percent in the pre-market after investors failed to receive its fourth-quarter and full-year 2012 earnings with any optimism. Revenue increased 40.1 percent year over year to $1.58 billion, ahead of estimates for $1.53 billion. Earnings increased 13.3 percent to $0.17 per share, ahead estimates for $.015. Mobile revenue also increased, climbing 9 points to 23 percent of total ad revenue, as mobile monthly active users reach 680 million… (Read more.)
Research In Motion (NASDAQ:RIMM), soon to be BlackBerry, closed yesterday’s regular session off 12 percent, and is down another 6 percent ahead of Thursday’s session following what turned out to be the underwhelming launch of BB10. Along with the name change and product launch, investors are digesting a decision from the company to name the singer Alicia Keys to the position of global creative director… (Read more.)