Stock futures rose on Thursday following another raft of earnings reports, although news on the jobs front crimped gains; weekly jobless claims rose by 34,000 to 386,000 last week. Large-cap stocks have risen in three of the last four trading sessions, and oil prices are also on the rise. Nymex futures crossed back over $90 per barrel today and were recently trading at $90.97, up 12%.
Dow futures rose 39 points; S&P 500 futures rose 5 points.
Morgan Stanley (MS) fell 3.9% after reporting disappointing earnings results as revenue fell and the bank adds billions in collateral to account for a two-notch credit downgrade by Moody’s.
United Health Group (UNH) rose 2.5% after beating earnings expectations and raising its ful year outlook. Revenue rose at its health benefits and health services businesses and it posted a lower than expected medical loss ratio.
Walgreen (WAG) jumped 12% after saying it has made a new deal with pharmacy benefit manager Express scripts (ESRX). Walgreen had seen sales fall after the company stopped filling ESRX prescriptions.
IBM (IBM) shares rose 2.6% afterbeating earnings expectations and raising its full-year outlook, even as revenue slipped.
Philip Morris International (PM) rose 1.2% despite reporting a drop in second-quarter earnings as lower cigarette volume and foreign exchange hurt revenue.
Yum Brands (YUM) fell 2.7% as its profits in China fell amid lower restaurant margins.
Clothing maker VF Corp (VFC) rose 2.4% to $145.21 after it reported second-quarter earnings that beat forecasts and raised its yearly forecast.
Auto retailer AutoNation (AN) rose 1.9% after beating second-quarter estimates amid improving sales of new and used vehicles.
Miner Freeport-McMoRan Copper & Gold (FCX) rose 1.2% despite reporting lower second-quarter earnings amid a drop in copper and gold prices.
– with additional reporting by Johanna Bennett
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