Stock futures are pushing to the upside on the back of a strong earnings report from JPMorgan. Investors are coming into Friday after a jobs number reading that was incomplete which led to the rally fizzling on Thursday. Futures across the three major indices are notching solid gains in the pre-market session.
Outside of the JPM’s earnings, most investors will be looking towards the University of Michigan’s consumer sentiment data for October, set for release at 9:55am EST.
Internationally the markets in Europe and Asia were mixed. Europe did manage to snag the Nobel Peace Prize. Maybe the panel just felt like they needed a piece of good news for once. In Asia, most investors were unwilling to place big bets ahead of the Chinese data flood expected to begin this weekend.
Commodities are essentially flat this morning with Nymex crude futures up 16 cents to $92.23 per barrel. Gold is trading slightly lower, off 40 cents per ounce.
Stocks to Watch
Advanced Micro Devices, Inc. (NYSE:AMD) is down 8.44% in pre market trading at $2.93. AMD has traded 117 thousand shares already this morning and trades 21.9 million shares a day on average. AMD shares are down today after the company lowered their guidance due to lower demand. The company has a market cap of 2.26 billion.
Sprint Nextel Corp. (NYSE:S) is down about 2% in early morning trading at $5.65. S has traded 95.7 million shares so far today and trades 76.6 million shares a day on average. S shares rose more than $0.50 a share yesterday as the company is in talks to sell the company to Softbank. The company has a market cap of 17.28 billion.
JPMorgan Chase & Co. (NYSE:JPM) is up 0.40% in pre market trading at $42.27. JPM has traded nearly 200 thousand shares this morning and trades 26.5 million shares a day on average. JPM shares are up slightly after the bank reported third quarter earnings. EPS came in at $1.40 per share with net income of $5.71 billion. Total revenue jumped to $25.86 billion from $24.37 billion last year. Analysts were expecting EPS of $1.24 with revenue of $24.53 billion. The company has a market cap of 159.93 billion.
Penn Virginia Corporation (NYSE:PVA) is up 4.40% this morning at $5.22. PVA has traded 57 thousand shares this morning and trades 776 thousand shares a day on average. Penn Virginia priced a public offering of 8 million shares at $5 per share and 1 million depositary shares at a liquidation price of $100 per share. PVA shares had dropped $1.50 a share after announcing their public offering. The company has a market cap of 228.37 million.
Infosys Ltd. (NASDAQ:INFY) is down 5.33% in pre market trading at $45.65. INFY has traded 24 thousand shares this morning and trades 1.9 million shares a day on average. Infosys reported second quarter results yesterday and met estimates. Profit rose to $23.7 billion rupees (about $450 million) in the second quarter, meeting estimates of $23.8 billion rupees. The company has a market cap of 27.55 billion.
STMicroelectronics NV (NYSE:STM) is up 12.94% in pre market trading at $6.37. STM has traded 123 thousand shares so far today and trades 1.4 million shares a day on average. The company has a market cap of 5 billion.
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