US STOCKS-Futures fall, weighed by Apple, IBM

* Apple, IBM slide after earnings

* Goldman, Coca-Cola results expected

* Futures down: Dow 31 pts; S&P 7 pts; Nasdaq 24 pts

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, Oct 19 (BestGrowthStock) – U.S. stock index futures fell
on Tuesday as technology titans Apple and IBM disappointed
investors and raised doubts about the strength of earnings in
the third quarter.

* Apple Inc (Read more about Apple stock future.)’s (AAPL.O: ) shares, which hit a lifetime high on
Monday, fell more than 5 percent in premarket trade and ripped
a hole through Nasdaq futures overnight after it reported its
iPad shipments came in below expectations and it issued a
conservative outlook for the current quarter. [ID:nN18288374].

* International Business Machines Corp (IBM.N: ) said it won
fewer technology services deals than expected in the third
quarter, sending its shares 3.4 percent lower premarket,
although it announced stronger profits and raised its full-year
outlook. [ID:nN18152165].

* Results from Bank of America Corp (BAC.N: ) gave brief
support to equities, helping futures pare losses, but shares of
the largest U.S. bank by assets dropped more than 2 percent
after its third-quarter net loss quadrupled from a year ago.
[ID:nN19106691].

* Further weighing on stocks, China’s central bank said on
Tuesday it will raise its benchmark one-year lending and
deposit rate by 25 basis points, effective Oct. 20. Any signal
that China is trying to cool its economy hampers equities.

* All eyes remained on corporate earnings, with Goldman
Sachs Group Inc (GS.N: ), Yahoo Inc (YHOO.O: ), Coca-Cola Co
(KO.N: ), Johnson & Johnson (JNJ.N: ) and State Street Corp (STT.N: )
among the companies expected to report throughout the day.

* S&P 500 futures (SPc1: ) dropped 7 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: ) fell 31
points and Nasdaq 100 futures (NDc1: ) lost 24 points.

* U.S. Treasury Secretary Timothy Geithner vowed on Monday
that the United States would not devalue the dollar for export
advantage, saying no country could weaken its currency to gain
economic health. [ID:nLDE69I00W].

* Ray Ozzie, the Microsoft Corp (MSFT.O: ) executive who took
over the role of chief software architect from Bill Gates, is
to step down, following a tenure in which the Windows-maker
lost ground to Google and Apple. [ID:nN18289054]

* A number of Federal Reserve officials will be speaking on
Tuesday, including Chairman Ben Bernanke’s brief remarks at 4
p.m. (2000 GMT).

* The U.S. Commerce Department releases housing starts and
building permits for September at 8:30 a.m. (1230 GMT).
Economists in a Reuters survey forecast a 580,000 annualized
housing starts rate versus 598,000 in August, and a total of
580,000 permits in September compared with 571,000 in the prior
month.

* U.S. stocks (Read more about the stock market today. ) advanced on Monday as stronger-than-expected
profit from Citigroup Inc (C.N: ) helped financial shares shake
off worries that an investigation into foreclosures could
threaten the stability of the housing market.
(Editing by Padraic Cassidy)

US STOCKS-Futures fall, weighed by Apple, IBM