By John E. Fitzgibbon, Jr.
Before the Bell -
Wednesday, Oct. 24
In pre-market trading, stock futures have been
trading ranging from a plus reading to a minus reading --
indicating that stocks will have a mixed opening when the
bell rings at the corner of Broad and Wall Streets.
Economic data on tap today: The Federal Reserve's "Beige
Book" will be released at 2:00 pm, giving anecdotal evidence
on the health of the economy in the Fed's 12 regional districts.
The earnings well has not run dry yet either. It'll be another
busy as more than 300 companies are expected to report quarterly
Earnings reports before the bell (all Dow components):
AMR (NYSE: AMR) reported a third-quarter loss of $2.68 a share,
below Thomson Financial/First Call consensus loss of $2.67
a share. The company reported a profit of $1.96 a year-ago;
Dupont (NYSE: DD) reported earnings of $0.12 a share beating
estimates of $0.10 a share. The company reported a profit
of $0.51 a year-ago; Eastman Kodak (NYSE: EK) reported earnings
of $0.52 a share, inline with estimates. The company reported
a profit of $1.36 a year-ago. Eastman Kodak said fourth-quarter
profits would not likely exceed $0.15 a share on an operational
basis. Thomson Financial/First Call consensus estimate is
$0.46 a share. Honeywell (NYSE: HON) reported earnings of
$0.44 a share, inline with estimates. The company reported
a profit of $0.35 a year-ago; Sears Roebuck (NYSE: S) reported
earnings of $0.80 a share, inline with estimates of $0.80
a share. The company reported a profit of $0.81 a year-ago.
European stocks are trading mostly higher.
Asian stocks finished mixed