US stock futures point higher on Wall Street

US stock futures point higher on Wall Street

By The Associated Press | Posted - Jun. 20, 2014 at 7:31 a.m.


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NEW YORK (AP) — U.S. stock futures are edging up ahead of the opening bell Friday, and major stock indexes are set to close out the week with solid gains. Oracle's shares slumped after the company's quarterly results fell short of Wall Street's forecasts.

KEEPING SCORE: Thirty minutes before the start of regular trading, Dow Jones industrial average futures are up 28 points to 16,861.

Standard & Poor's 500 index futures are up four points to 1,954, while Nasdaq 100 futures are up five points to 3,794.

On Thursday, the S&P 500 index notched an all-time high for the second day in a row. The index is on track to gain 1.2 percent for the week.

DISAPPOINTS: Shares of Oracle are sliding in premarket dealings after the software maker turned in quarterly earnings and sales that fell short of analysts' expectations. One analyst covering the company, Citigroup's Walter Pritchard, stripped Oracle of a "buy" rating and reduced his price target on the stock to $41 from $44. Oracle's shares slumped $2.52, or 6 percent, to $39.97.

MISSED: Darden Restaurants said its quarterly profit plunged 35 percent, dragged down by charges tied to its plan to overhaul its business. The company plans to sell its Red Lobster restaurants to the investment firm Golden Gate Capital for $2.1 billion. The quarterly results fell short of analysts' forecasts, and Darden's shares sank $2.02, or 4 percent, to $47.50 in premarket trading.

OVER THERE: Major stock markets in Europe drifted Friday. France's CAC 40 edged down 0.1 percent, while Germany's DAX added 0.3 percent. The FTSE 100 index of leading British companies gained 0.3 percent.

BONDS: U.S. government bonds prices slipped, pushing yields up. The yield on the 10-year note rose to 2.64 percent from 2.62 percent late Thursday.

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