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By Pehon | July 26, 2007
As the Singapore, and global market seem to be mimicking what ever the US market is doing, here is a low down on earning reports overnight.
Overnight, futures fell on concerns about the housing situation in USA. The market is awaiting home sales figures for June at 10pm Singapore time and they are expected to see a drop of 1.6%
ExxonMobil - ExxonMobil reported a 1% fall in 2Q07 earnings, resulting in $1.83 a share earnings. Analysts expected a $1.96 earnings per share. We should expect ExxonMobil to take a beating today.
Wonder what did they do with the money at the pumps….
3M - Reported earnings of $1.25 a share, beating analyst expectations of $1.18.
Shell - Once again, for the 8th straight quarter, Shell has beaten analysts’ forcasts. thats why i pump VPower =)
Sony - Sony has reported its PS3 outsold Nintendo’s Wii, and on the back of strong digital camera sales, 2Q07’s profits trebled.
Apple - Apple reported strong sales despite weak iPhone sales.
As you can see above, the earning reports appear to be mixed, with slightly more companies outperforming its previous quarter and beating estimates.
If not for the housing concerns, the market is well positioned for a higher open. However due to the housing concerns, futures indicate a sharply lower opening.
Topics: Indexes&Economy |