Before the bell: DNA, NOK, AAPL, INTC, S, STT

Posted Jan 15th 2008 8:25AM by Melly Alazraki
Filed under: Before the Bell, Earnings Reports, Apple Inc (AAPL), Intel (INTC), Nokia Corp. (NOK), Sprint Nextel Corp (S), Genentech Inc (DNA)

Before the bell: Futures lower after Citi reports, ahead of data

Genentech (NYSE: DNA) shares are down 1% in premarket trading after the company reported results that beat estimates late Monday. While fourth-quarter profit rose 6%, there were concerns over sales growth.

Nokia Corp. (NYSE: NOK) is continuing its upward move this morning with the stock indicating 1.4% higher in premarket trading. MarketWatch reports that the company "Tuesday said it may slash as many as 2,300 manufacturing jobs in Germany as it moves production to lower-cost European countries such as Romania."

Macworld is to begin today. Apple Inc.'s (NASDQ: AAPL) CEO Steve Jobs will deliver his keynote address at noon. While no one is expecting news such as the iPhone this time, some new products are nonetheless expected. One such new product is the highly anticipated ultraportable MacBook Air. The blogosphere has been buzzing with what is claimed to be mockups of the laptop based on leaked information.

Intel (NASDAQ: INTC) after the close will report its quarterly performance. Expectations call for profits of 40 cents per share on sales of $10.84 billion according to Thomson Financials.

Wall Street Journal reported Monday afternoon that the new chief executive of Sprint Nextel Corp. (NYSE: S) plans to lay off "several thousand" workers, part of his cost-reduction plan.
State Street Corp. (NYSE: STT ) said fourth-quarter earnings fell 28% to $223 million after setting aside $618 million to settle legal claims stemming from losses on subprime mortgages. Revenue, however, rose 53% to $2.48 billion. Results beat estimates and STT shares are up 1.3% in premarket trading.

Tags: aapl, dna, intc, inthenews, nok, s, stt