Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

U.S. Morning Call: Apple, Amazon miss; Merck beats Street

Thursday, October 25, 2012 - 03:32

Oct 26 - The tech sector got a mixed bag of earnings results this week as Apple and Amazon disappointed with lower-than-expected earnings, and Facebook reported a surprise rise in mobile advertising.

▲ Hide Transcript

View Transcript

A big week for tech with some pleasant surprises from some -- usual suspects. And disappointing results from the bellwethers let's recap -- your morning call for Friday. Microsoft's windows eight and surface tablet officially go on sale today. The products were met with mixed reviews but -- PC company hoping this -- new device sparked a fight back against its biggest rival apple. Speaking of apple at least three brokerages cut their price target on apple by up to fifty dollars a share after the iPhone maker surprised analysts. By forecasting lower gross margins for the quarter. Shares edging down to six LE 85 in premarket trading. Amazon also disappointing investors the online retailer reported its first quarterly net loss in more than five years. One more victim falling two weeks -- in Europe. Looks surprised the market was better than expected results and what appears to be a mobile strategy. Be sure to check out our new show its equity covering all -- tech every afternoon -- Comcast the largest US cable provider in the US is expected to report higher revenue and earnings. Analysts saying NBC universal revenue could be stronger than expected in part to the Olympics as well as the networks surprisingly in prime time TV. It's strong start in many years. S and now well that's half that these days either. Merck reported mixed third quarter results with earnings beating Wall Street forecasts that sales slightly missing the mark amid stiff generic competition that began August. For the company's singular asthma medicine. The number two US drugmaker earned one point seven billion or 56 cents a share. Goodyear tires reported lower profits and revenue for the third quarter. Goodyear expects its fourth quarter 2012 tire volume will be 35% below the 2011 period. Stock index futures point to a lower open on Wall Street this morning those disappointing earnings from apple and Amazon likely affecting sentiment. Also weighing on investors' minds US third quarter GDP. The report at 830 man is expected to show lackluster pace of economic growth. Analysts see a rise of one point 9% faster growth in in the second quarter but maybe not fast enough. This will be the last GDP report before the November 6 election. At 5 to 10 this morning will get the last October consumer sentiment reading a bursting consumer spending could give GDP elect. Economists polled by Reuters expecting sentiment reading of 83. Now for some stocks to watch Wal-Mart saying today the company plans to open 100 more stores in China increased 181000 jobs there over the next three years. The retail giant looking to boost its presence in China's booming but highly competitive hyper markets sector. And in admits that the tablet wars and the proliferation of online retailers. Media conglomerate Pearson -- its talks with Bertelsmann to -- random house and penguin. The two companies have not yet reached an agreement but it deals completed it would mean control of roughly 25%. And the United States book market. Shares of Pearson's higher in the premarket. That's all -- Friday morning call for more news check us out on Twitter at Reuters Insider and also watch our Reuters YouTube channel. At Reuters dot com slash writers TV. I'm Lisa Bernhard this is writers.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

U.S. Morning Call: Apple, Amazon miss; Merck beats Street

Thursday, October 25, 2012 - 03:32