US stock-index futures dropped on Thursday after a government report showed that jobless claims jumped 43,000 to 474,000 in the latest week .
At 8:31 am ET, the S&P 500 futures rose 0.20 points to 1,352.30. The Dow Jones Industrial average futures increased 1 point to 12,750. The Nasdaq Composite futures slipped 3.25 points to 2,386.50.
A release by Department of Labor on Thursday showed that number of Americans filing first- time claims for unemployment benefits rose 43,000 to 474,000 in the week ending April 30. Economists expected jobless claims to drop to 412,000. The four-week average of seasonally adjusted initial jobless claims, a less volatile gauge, increased 22,250 to 431,250. Continuing claims for the week ending April 23 rose 74,000 to 3.73 million.
Shares of McDonald's Inc. (NYSE: MCD) retreated in Thursday's pre-market trading after Piper Jaffray downgraded its rating on the company to Neutral from Overweight. The firm lowered its price target on the stock to $85 from $91.
General Motors Co. (NYSE: GM) said Thursday that its first-quarter profit surged to $3.2 billion, or $1.77 a share, from $865 million, or 55 cents a share, in the year-earlier quarter. The latest results included special items that increased earnings by 82 cents a share. Revenue climbed to $36.2 billion from $31.5 billion. Analysts, on average, expected the company to report earnings of 91 cents per share on revenue of $35.59 billion.
NRG Energy Inc. (NYSE: NRG) reported Thursday that it swung to a first-quarter loss of $260 million, or $1.06 a share, from a profit of $58 million, or 22 cents a share, in the year-ago quarter. The latest results included a charge of $481 million related to NRG's impairment of all of the net assets of Nuclear Innovation North America, the company's joint venture with Toshiba American Nuclear Energy Corp. Total operating revenues declined to $2 billion from $2.22 billion. Analysts, on average, expected the company to report earnings of 11 cents per share on revenue of $2.31 billion.
Cigna Corp., (NYSE: CI) reported Thursday that its first-quarter profit climbed 52% to $429 million, or $1.57 a share, from $283 million, or $1.02, in the year-ago quarter. On an adjusted basis, the company earned $1.37 a share in the latest quarter. Revenue rose 4% to $5.41 billion from $5.21 billion. Analysts, on average, expected the company to report earnings of $1.09 a share on revenue of $5.49 billion.
Meanwhile, the European Central Bank and the Bank of England both left their key interest rates unchanged, as was widely expected.
European stocks retreated in afternoon trade. At 13:34 pm London Time, the UK FTSE fell 46.27 points, or 0.77%, to 5,937.80. The German DAX and French CAC decreased 0.65% and 1.11% respectively.
Asian stocks finished lower. The Hang Seng index of Hong Kong declined 53.63 points, or 0.23%, to 23,261.61.
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