Wall Street futures are pointing lower ahead of Tuesday’s open as again a number of high profile earnings disappointed.
Another day of softer oil prices similarly put a dampener on market sentiment.
Dow Jones futures, shortly after 7:30 am in New York, were down some 30 points at 17,086 while the S&P 500 is indicated down a handful of points at 2,033 and the Nasdaq is also seen lower.
Monday’s afterhours trading saw IBM (NYSE:IBM) down about 5% and it is expected to remain in focus as trading resumes in New York. Last night, the tech major disappointed with third quarter financials below already pessimistic analyst forecasts.
Harley Davidson (NYSE:HOG) is another stock under pressure, as it tumbled about 7% as its third quarter also disappointed. The motorcycle firm blamed increased competition and it also downgraded its forecast for the number of bike shipments for the whole year.
One the biggest banks in America’s south-east, Birmingham Alabama based Regions Financial (NYSE:RF) also missed Wall Street expectations as its quarterly profits fell to US$258mln, down from US$320mln.
Elsewhere, Verizon (NYSE:VZ) grew third quarter revenue to US$33.2bn, from US$31.6bn and ahead of consensus forecasts for just under US$33bn. Earnings, meanwhile, were also slightly ahead.
United Technologies (NYSE:UTX) was also ahead of Wall Street expectations, though its figures were lower year-on-year.
Later, Chipolte (NYSE:CMG) and Yahoo (NASDAQ:YHOO) will release their third quarter earnings report.