US STOCKS-Futures dip on Google; GE, BofA earns curb losses

NEW YORK, April 16 (BestGrowthStock) – U.S. stock index futures
edged lower on Friday after Google earnings failed to meet
lofty expectations, but strong results from GE and Bank of
America stemmed declines.

* Google Inc (Read more about Google Stock Analysis) (GOOG.O: ), the Internet search giant, reported
a 23 percent jump in quarterly revenue on a rebound in Web
advertising, but the stock shed 4.4 percent to $569 in
premarket as the results disappointed investors accustomed to
blowout results. For details, see [ID:nN15186317]

* General Electric Co (GE.N: ) advanced 1.5 percent to $19.80
after reporting a profit that was sharply higher than Wall
Street estimated and said it sees potential upside to its
earlier full-year forecast. [ID:nN16249166]

* “The events today that are going to drive the market are
earnings, earnings and then there are earnings,” said Kim
Caughey, senior equity research analyst at Fort Pitt Capital
Group in Pittsburgh.

“Google, really is more consumer (based) and ad related,
and they do have an odd, broad swath of the world. But it’s
chunky because it’s missing all of China. So I wouldn’t say
they are a good proxy for what is going on in the economy. I
look to companies more like GE.”

* Bank of America Corp (BAC.N: ) climbed 2.1 percent to
$19.88 premarket after first-quarter earnings topped
expectations. [ID:nN16232262]

* S&P 500 futures (SPc1: ) shed 2.8 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: ) lost 8
points, and Nasdaq 100 futures (NDc1: ) dropped 5.25 points.

* Mattel Inc (MAT.O: ) gained 3.2 percent to $24.50 in light
trade after the No. 1 toymaker surprised Wall Street with a
quarterly profit versus a year-ago loss on strong demand in
both its classic and newer products. [ID:nN16228746]

* Continental Airlines Inc (CAL.N: ) has restarted merger
talks with United Airlines parent UAL Corp (UAUA.O: ) two years
after nearly sealing a deal, according to a source.
[ID:nN15247749]

* Economic data scheduled for Friday include March housing
starts and University of Michigan sentiment data for April.

* European stocks ticked higher as industrials gained after
strong results from SKF (SKFb.ST: ), the world’s biggest bearings
maker, though miners fell on weak gold prices. [ID:nLDE63F0DZ]

* Asian stocks pulled back from 22-month highs and
higher-yielding currencies fell as investors booked profits
after risky assets ran up in recent sessions on the strength of
solid economic data. [ID:nSGE63F08U]

* U.S. stocks (Read more about the stock market today. ) posted a sixth straight day of gains on
Thursday as an encouraging profit forecast from United Parcel
Service Inc (UPS.N: ) lifted transportation shares, though
concerns about a rise in weekly jobless claims limited the
advance.

Stock Today

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)

US STOCKS-Futures dip on Google; GE, BofA earns curb losses