US stock-index futures dropped on Monday as renwed worries European sovereign-debt dented investor optimism.
At 8:32 am ET, the S&P 500 futures fell 7.90 points to 1,310.80. The Dow Jones Industrial average futures decreased 62 points to 12,241. The Nasdaq Composite futures dropped 13.25 points to 2,296.50.
Citigroup, Inc. (NYSE: C) reported Monday that its first quarter profit dropped to $3 billion, or 10 cents per share, from $4.43 billion, or 13 cents per share, in the year ago quarter. Revenue dropped to $19.7 billion from $25.4 billion. Analysts, on average, expected the company to report earnings of 35 cents per share on revenue of $6.29 billion.
Eli Lilly & Co., (NYSE: LLY) reported that its first-quarter net income slipped 15% to $1.06 billion, or 95 cents a share, from $1.25 billion, or $1.13, in the year-earlier quarter. On an adjusted basis, the company earned $1.24 in the latest quarter. Revenue rose to $5.84 billion from $5.49 billion. Analysts, on average, expected the company to report earnings of $1.16 per share on revenue of $5.70 billion.
Halliburton Co. (NYSE: HAL) said Monday that its first-quarter net income rose to $511 million or $0.56 per share from $206 million or $0.23 per share last year. The first quarter of 2010 results were negatively impacted by $41 million, or $0.05 per share, associated with the devaluation of the Venezuelan Bolívar Fuerte. On an adjusted basis, the compay earned $0. 61 per share in the latest quarter. Revenue jumped to $5.28 billion from $3.76 billion in the first quarter of 2010. Analysts, on average, expected the company to report earnings of 59 cents per share on revenue of $4.92 billion.
Texas Instruments Inc. (NYSE: TXN), the world's second largest maker of mobile phone chips, is scheduled to release its first-quarter earnings after the closing bell on Monday, April 18, 2011. Analysts, on average, expect the company to report earnings of 58 cents per share on revenue of $3.40 billion. In the year ago quarter, the company reported earnings of 52 cents per share on revenue of $3.20 billion.
On the economic front, the National Association of Home Builders will release its Housing Market Index at 10 a.m.
European stocks retreated in afternoon trade. At 13:52 pm London Time, the UK FTSE declined 55.11 points, or 0.92%, to 5,940.90. The German DAX and French CAC decreased 0.92% and 1.38% respectively.
Asian stocks finished lower. The Nikkei 225 fell 34.87 points, or 0.36%, to 9,556.35. The Hang Seng index of Hong Kong declined 177.76 points, or 0.74%, to 23,830.31.
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