* GE revenue ticks up, but shares fall
* IBM shares down, Google up after results
* McDonald's profit up, shares off as U.S. sales drop
* Futures up: Dow 41 pts, S&P 7 pts, Nasdaq 13 pts
NEW YORK, April 19 U.S. stocks were set to rise
at the open on Friday, bouncing back a day after the S&P 500
index closed below its 50-day moving average for the first time
The market has weakened on recent economic data, and the S&P
500, down 3 percent over the past four sessions, is on track to
post its worst week this year. A fall in commodity prices has
further pressured stocks.
The S&P 500's close below the 50-day moving average on
Thursday indicates the medium-term uptrend in the market could
be in peril. The last time the index closed consecutive days
under its 50-day average came in early December.
The market's expected advance is a reaction to the recent
declines more than anything according to Jack De Gan, chief
investment officer at Harbor Advisory Corp in Portsmouth, New
"It's a relief rally after the last couple of days," he
General Electric shares fell 2.3 percent to $22.15 in
premarket trading after the conglomerate reported a quarterly
profit in line with expectations as GE sold more jet engines and
shed its stake in NBC Universal.
S&P 500 futures rose 7 points and were above 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 rose 41
points, and Nasdaq 100 futures added 13 points.
McDonald's Corp shares fell 1.6 percent to $100.22
in premarket trading after it reported a first-quarter profit
that fell short of Wall Street's expectations and said sales at
established U.S. restaurants fell 1.2 percent.
Google's core Internet business increased net
revenue 23 percent in the first quarter, softening the effect of
a sharp decline in its Motorola mobile phone division. Its
shares were up 1.3 percent at $775.85 in premarket trading.
IBM Corp posted quarterly earnings that missed
estimates due to the depreciation of the Japanese yen and a
failure to close major deals, especially in Europe and the
United States. The stock, down 4.9 percent in premarket trading
at $197.04, is expected to weigh on the Dow industrials.
Vertex Pharmaceuticals said Thursday an
experimental drug improved lung function in adults with cystic
fibrosis in a midstage trial. Its shares were up 61 percent to
$85.26 in premarket trading.