US stock-index futures declined on Friday as weaker-than-expected corporate earnings dented investor confidence.
At 8:39 am ET, the S&P 500 futures fell 5.10 points to 1,303.60. The Dow Jones Industrial average futures decreased 44 points to 12,155. The Nasdaq Composite futures dropped 13.50 points to 2,295.
The New York Fed said Friday that the Empire State manufacturing survey rose in April for the five consecutive month, with general business conditions rising over four points to 21.7, the best level in a year.
Bank of America Corp. (NYSE: BAC) reported Friday that its first quarter net income dropped 37.5% to $2.0 billion, or 17 cents per share, from $3.2 billion, or 28 cents per share ,in the year-ago quarter. Total revenue, net of interest expense, FTE basis for the quarter dropped to $27.09 billion versus $32.29 billion in the prior-year quarter. Analysts, on average, expected the company to report earnings of 28 cents per share on revenue of $27.08 billion.
After Thursday's closing bell, Google Inc. (NASDAQ: GOOG) reported that its first quarter net income rose to $2.30 billion or $7.04 per share, from $1.96 billion or $6.06 per share in the fourth quarter last year. On an adjusted basis, the company earned $8.08 a share in the second quarter. Revenue rose 27% to $8.58 billion from $6.78 billion. Analysts, on average, expected the company to report earnings of $8.13 per share on revenue of $6.44 billion.
European stocks were little changed in afternoon trade. At 13:36 pm London Time, the UK FTSE rose 4.01 points, or 0.07%, to 5,967.81. The German DAX climbed 0.25% while French CAC decreased 0.42%.
Asian stocks finished lower. The Nikkei 225 fell 62.40 points, or 0.65%, to 9,591.52. The Hang Seng index of Hong Kong declined 5.93 points, or 0.02%, to 24,008.07.
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