Eagle Eye Opener: U.S. Futures Down; Dupont Miss

Eagle Eye Opener

Losing Face: Will Social Media’s Biggest Player Disappoint Again? (USAToday.com)

Investors in Facebook (FB), the No. 1 social networking site, will be paying close attention to the company’s earnings that are scheduled for release after the U.S. market closes today. Estimates for Q3 earnings are 6 cents per share, before GAAP (11 cents after one-time adjustments) and revenue of $1.22 billion – up from $1.16 billion in the previous quarter. The market is especially curious about earnings and revenue, given the company’s troubled initial public offering and disappointing Q212 earnings.

 

DuPont Latest U.S. Large Cap to Swing and Miss (CNBC.com)

DuPont (DD) joined Microsoft (MSFT) and Google (GOOG) in delivering disappointing Q3 earnings. Investors in U.S.-based large caps are running out of options for profitability, as the chemical giant reported earnings per share of 44 cents, down from 69 cents during the same quarter last year. Its revenue during the latest quarter also fell, dropping to $7.34 billion — down from $9.24 billion for Q311. In response, the company is expected to cut some 1,500 jobs. Shares are expected to lose value in trading today, as well.

 

U.S. Futures Down as the Beat Goes On… (Yahoo.Finance.com)

With Dupont (DD), 3M (MMM) and United Technologies Corp (UTX) all delivering bad earnings news, U.S. Futures fell this morning — with S&P 500 futures down 16.1 points — well below fair value. And with 33 additional S&P companies reporting earnings throughout the day, investors shouldn’t expect to see that downward trend reverse. To date, 61% of companies reporting thus far have missed earnings targets.

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Last week was frenetic in terms of companies reporting their quarterly earnings, economic data for both the United States and abroad -- and, of course, the second presidential debate.

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