US stock-index futures dropped on Tuesday as a stronger dollar pressured commodity prices.
At 8:31 am ET, the S&P 500 futures rose 2.70 points to 1,357.60. The Dow Jones Industrial average futures increased 23 points to 12,731. The Nasdaq Composite futures climbed 2.25 points to 2,404.
Pfizer Inc. (NYSE: PFE) said that its first-quarter net income rose to $2.22 billion, or 28 cents per share, from $2.03 billion, or 25 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 60 cents per share in the latest quarter. Revenue dropped slightly to $16.5 billion, from $16.6 billion. Analysts, on average, expected the drug maker to earn 58 cents a share on revenue of $16.6 billion.
Sirius XM Radio Inc. (NASDAQ: SIRI) reported Thursday that its first-quarter net income was $78.12 million, up from the year-ago quarter's $41.6 million. Earnings per share remained flat at 1 cent. Revenue rose to $723.84 million from $663.78 million in the same quarter last year. Analysts, on average, expected the company to report earnings of 1 cent per share on revenue of $736.34 million.
MetroPCS Communications Inc. (NYSE: PCS) reported that its first-quarter net income surged to $56.4 million, or 15 cents a share, from $22.7 million, or 6 cents, in the year-ago quarter. Revenue rose to $1.19 billion from $970.5 million. Analysts, on average, expected the company to report earnings of 19 cents a share on revenue of $1.13 billion.
Shares of YRC Worldwide Inc. (NASDAQ: YRCW) slumped more than 6% after Stephens downgraded its rating on the company to Underweight from Equal Weight citing the company's dilution from its restructuring plan and Fitch's downgrade to Nearly Default status.
On the economic front, the Commerce Department will release data on March factory orders at 10:00 pm ET.
European stocks retreated in afternoon trade. At 14:01 pm London Time, the UK FTSE fell 4.61 points, or 0.08%, to 6,065.29. The German DAX and French CAC decreased 0.70% and 0.50% respectively.
Asian stocks finished mixed. The Nikkei 225 rose 154.46 points, or 1.61%, to 10,004.20. The Hang Seng index of Hong Kong declined 87.56 points, or 0.37%, to 23,633.25.
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