Liberty Takes Over Siri and GE’s Earnings Beat: Morning Buzzers
Stock futures were mixed on Friday morning. Investors are digesting China’s modest 7.8 percent 2012 GDP growth and looking forward to the Reuters/University of Michigan Consumer Sentiment report, due out just before 10:00 a.m.
Futures at 8:45 a.m.: S&P: +0.07%, Dow: +0.05%, NASDAQ: -0.23%.
General Electric (NYSE:GE) enjoyed a pre-market buzz after releasing its fourth-quarter results. Operating earnings for the period increased 13 percent year over year to $0.44 per share, while revenues increased 4 percent to $39.3 billion for the period, beating estimates. Shares climbed as much as 3.7 percent in pre-market trading.
Intel (NASDAQ:INTC), on the other hand, is suffering a post-earnings hangover. Shares were off over 6 percent in the pre-market after the tech company beat estimates for the quarter but projected a weak first quarter for 2013… (Read more.)
Boeing (NYSE:BA) has more problems than just overheating lithium-ion batteries and grounded fleets of 787 Dreamliners. Boeing and the Society of Professional Engineering Employees in Aerospace, which represents 23,000 engineers and technical workers, have been involved in a tense re-negotiation of contracts for the past few weeks, and talks seem to be falling apart. SPEEA said on Thursday: “Boeing’s actions reiterate the company’s growing disrespect for the engineers and technical workers who are essential to working issues and restoring confidence in the 787.”
Liberty Media Corp. (NASDAQ:LMCA) has completed its bid for majority control of Sirius XM Radio (NASDAQ:SIRI), acquiring 50 million shares at $3.15 a piece, bringing its stake to 50.7 percent. Shares of the radio company traded up about 1 percent in the pre-market.
Don’t Miss: Apple Gets Into Fight Mode Again.