Stocks To Open Lower
Stocks appeared set to open lower
Wednesday although a friendly inflation report allowed equities to curb selling
pressures before the bell.
The Labor Department said that the
Consumer Price Index rose 0.3% in April after a 0.1% increase in March. The core
CPI, which excludes out food and energy costs, rose by 0.2% in April after an
identical increase in the prior month. U.S. economists in a Reuters survey had
expected the headline CPI to rise 0.4% and the core index to rise 0.2%.
Overnight, Applied Materials
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PowerRating),
the world’s largest maker of chip gear, reported earnings of 32 cents a share
for the April 29 second quarter, excluding one-time items. That compares to 53
cents per share a year ago and analyst expectations of 33 cents, according to
Thomson Financial/First Call.
BEA Systems
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PowerRating) reported pro
forma net income of 8 cents a share for the fiscal first quarter ending April 30
vs. 3 cents a share in the same period a year earlier. Analysts estimates
averaged 7 cents.
Krispy Kreme
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PowerRating) reported
quarterly earnings of 20 cents per share compared to 14 cents a year ago.
Abercrombie & Fitch
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PowerRating) posted a net income of 20 cents a share for the May 5 quarter vs. 16 cents a year
ago and three cents above expectations.