“U.S. stock futures were mostly higher on Tuesday ahead of Citigroup Inc.’s earnings report, while Apple Inc.’s shares fell in premarket trading, weighing on the technology sector,” Polya Lesova reports for MarketWatch.
“Futures on the Dow Jones Industrial Average gained [25] points to [11,750] and S&P 500 futures rose [0.40] points to [1,290],” Lesova reports. “U.S. markets were closed Monday in observance of the Martin Luther King, Jr. Day holiday. Asian markets finished mostly higher overnight and European stocks rose in intraday trading Tuesday.”
“Shares of Apple slumped [4.47%] in premarket trading after its Chief Executive Officer Steve Jobs announced Monday that he will take a medical leave of absence to focus on his health. He will retain his CEO post and remain involved in big decisions for the company,” Lesova reports. “After the closing bell, Apple is expected to report fiscal fourth-quarter earnings of $5.41 a share, up from $3.67 a share in the same period a year ago, according to analysts polled by FactSet Research.”
Full article here.
MacDailyNews Take: So far, investor concerns over Jobs’ health appear to have been largely built-in to AAPL’s price and/or confidence in Tim Cook is, rightfully, strong.