US stock-index futures climbed on Wednesday as investors cheered better-than-expected corporate earnings.
At 8:15 am ET, the S&P 500 futures rose 4 points to 1,341.20. The Dow Jones Industrial average futures increased 30 points to 12,526. The Nasdaq Composite futures advanced 13 points to 2,397.75.
The commerce Department reported Wednesday that orders for durable goods rose 2.5% in March. Economists had projected a rise of 2.5%.
Shares of First Solar (NASDAQ: FSLR) rallied more than 2% in Wednesday's pre-market trading after Kaufman Bros. upgraded its rating on the company to Buy from Hold citing valuation, geographic diversity, and likely strong guidance on the Q1 report.
Boeing Co. (NYSE: BA) reported Wednesday that its first-quarter rose to $0.59 billion, or 78 cents per share, from $0.52 billion or 70 cents per share, in the year-earlier quarter. Reenue declined to $14.91 billion from $15.22 billion in the comparable period a year ago. Analysts, on average, expected the company to report earnings of 72 cents per share on revenue of $15.13 billion.
BP PLC (NYSE: BP) said Wednesday that its first quarter profit rose to $7.12 billion, or $37.42 a share, from $6.08 billion, or $31.99 a share, in the year-earlier quarter. Excluding inventory holding gains, replacement cost profit slipped to $5.48 billion or 29.13 cents per share from $5.6 billion or 29.82 cents per share. Such gains were $1.6 billion in the first quarter, compared to $481 million last year.In terms of American Depository Receipt or ADR, replacement cost profit slipped to $1.75 from $1.79. Revenue jumped to $88.31 billion from last year's $74.42 million. Analysts, on average, expected the company to report earnings of $1.89 per share on revenue of $71.40 billion.
Corning Inc. (NYSE: GLW) reported Wednesday that its first-quarter profit dropped to $748 million, or 47 cents a share, from $816 million, or 52 cents, in the year-ago quarter. Revenue rose 24% to $1.92 billion. Analysts, on average, expected the company to report earnings of 44 cents on revenue of $1.87 billion. Gross margin fell to 45.4% from 47.1%.
On the economic front, the Conference Board will release its Consumer Confidence index for April shortly after the opening bell. Economists expect index to rose to 64.4 from 63.4 in March.
On the economic front, the Federal Open Market Committee will release a statement on interest rate policy at 12:30 p.m. Federal Reserve Chairman Ben Bernanke will hold media briefing at 2:15 p.m.
European stocks rose in afternoon trade. At 13:24 pm London Time, the UK FTSE rose 12.47 points, or 0.21%, to 6,081.83. The German DAX and French CAC increased 0.74% and 0.68% respectively.
Asian stocks finished mixed. The Nikkei 225 rose 133.15 points, or 1.39%, to 9,691.84. The Hang Seng index of Hong Kong declined 114.54 points, or 0.48%, to 23,892.84.
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