* GE profit meets forecasts, revenue shy of estimates
* Microsoft quarterly profit falls more than expected
* Existing home sales data due at 10:00 a.m. EDT
* Futures down: S&P 3.6 pts, Dow 27 pts, Nasdaq 9.25
By Angela Moon
NEW YORK, Oct 19 U.S. stock index futures dipped
on Friday in the wake of disappointing results from Microsoft
and Google a day earlier, and after quarterly results from
General Electric showed it fell short of revenue estimates.
* General Electric Co said early Friday quarterly
profit grew 8.3 percent as solid U.S. and Asian demand for its
electric turbines and railroad locomotives offset the impact of
slowing European growth and demand. But quarterly revenue was
less than analysts had expected. GE shares dropped 1.3 percent
in premarket trading after the results.
* Diversified U.S. manufacturer Honeywell International Inc
reported a 10 percent rise in quarterly earnings as
declining natural gas prices helped boost profit at its UOP
chemical arm, offsetting weakness in Europe.
* Investors await the release of existing home sales data at
10:00 a.m. EDT (1400 GMT) and news from the second day of the
European Union summit, for trading incentives.
* S&P 500 futures fell 3.5 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures lost 27
points and Nasdaq 100 futures fell 9.25 points.
* European shares dipped in morning trade, but remained on
course for strong weekly gains on Friday while Spanish and
Italian bond yields hit their lowest levels in over half a year.
* Microsoft Corp's said late Thursday its quarterly
profit fell a greater-than-expected 22 percent, as sales of
computers running its Windows operating system dipped and some
revenue was deferred ahead of the upcoming releases of its core
Windows and Office products.
* Yahoo Inc's South Korean operation will pull out
of the country and end its local Internet portal service in
December, Yonhap news agency reported.
* Archer Daniels Midland bought a 10 percent stake
in GrainCorp on Friday, valuing the Australian grains
handler at $2.8 billion, and is seeking talks on a takeover that
would give the U.S. agribusiness a stronger platform to supply
* Chipotle Mexican Grill Inc said Thursday
restaurant sales growth would cool in 2013, leading some
analysts to believe that could signal the end of impressive
growth for the company that investors had come to enjoy.
* PC chipmaker Advanced Micro Devices said Thursday
it will cut its work force of nearly 12,000 by 15 percent, its
second round of layoffs in less than a year as it struggles with
a weak global economy and a consumer shift toward tablets.
* SanDisk Corp's quarterly results beat
expectations late Thursday as rising demand for chips used in
smartphones and tablets and a limited supply drove up prices for
flash memory, a trend the chipmaker expects will continue.
* U.S. stocks fell on Thursday, with technology stocks hit
hard after Google's surprisingly weak earnings - released
prematurely during the trading day - disappointed investors.