WTI crude oil futures fell over $1.00 to trade at $87.37 after a positive crude inventories number this morning. Gold futures rose with the 6E gaining $23.30 to $1599.50 and 61 pipps to $1.2132 respectively.
S&P 500 futures modestly gained .75 points to stay at 1330.25, NASDAQ futures fell 8.25 points to 2540.25 and Dow Jones Industrial futures gained 79 points to 12603.00.
Broadcom Corp. (BRCM) gained over 9% after a positive earnings release last night. The smartphone chip maker posted record revenue, while Apple Inc. (AAPL), a consumer of BRCM’s chips fell over 4.5% on weak revenues due to anticipation of the iPhone 5 and weakening demand in Western Europe.
Symanted Corp. (SYMC) gained 14.27% after posting weak earnings and news of a new CEO.
Netflix Inc. (NFLX) fell over 23% after reporting positive earnings and weak guidance. This happens to be one of my least favorite business models and services due to the hit or miss online movie selection.
Radio Shack Corp. (RSH) had a massive decline of 28.49% after losing 21 cents a share. Analysts expected a profit of 3 cents a share.
David Cornes holds a degree in economics from the University of Montana.