July 24 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Thursday, July 24:
1. -- U.S. stock futures were rising on Thursday ahead of home sales data and following sharply higher earnings from Facebook
European stocks reversed early losses to move higher after positive manufacturing data pointed to a eurozone recovery. Asian shares ended the session mixed.
2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, and new home sales for June at 10 a.m.
3. -- U.S. stocks on Wednesday closed mixed Wednesday as investors digested earnings from some of the biggest market players including Apple
The S&P 500 climbed by 0.18% to close at 1,987.01, skimming record highs set earlier in the day. The Nasdaq gained 0.4% to 4,473.70. The Dow Jones Industrial Average ticked 0.16% lower to finish at 17,086.63.
4. -- Online social network Facebook
Facebook earned $788 million, or 30 cents a share, in the quarter, up from $331 million, or 13 cents a share, a year earlier.
Adjusted earnings were 42 cents share; Wall Street was looking for 33 cents.
Revenue rose 61% to $2.91 billion, ahead of forecasts of $2.8 billion.
Advertising revenue jumped 67% to $2.68 billion. Mobile ad revenue was $1.66 billion, or 62% of Facebook's total advertising revenue for the quarter. Mobile ads accounted for 59% of the company's total ad revenue in the period.
5. -- Amazon.com
Amazon posted a year-earlier loss of 2 cents a share on sales of $15.7 billion.
Earlier this week, Amazon released the Fire, the first smartphone designed by the comapny.
Adjusted earnings were 40 cents a share, topping Wall Street forecasts of 36 cents.
Ford said it saw record profit in North America and made money in Europe for the first time in three years.
7. -- AT&T
AT&T said half of its wireless subscribers already have moved to "Mobile Share Value" plans, which were introduced in February.
The telco giant said it earned $3.55 billion, or 68 cents a share, in the second quarter, down from year-earlier profit of $3.82 billion, or 71 cents a share.
Adjusted earnings in the quarter were 62 cents a share; a penny below forecasts.