U.S. stock futures firm; Oracle and trade data eyedFri Feb 10, 2006 5:58 AM ET (12:58 MEZ) By Melanie Cheary LONDON, Feb 10 (Reuters) - U.S. stock futures pointed to a firmer start for Wall Street on Friday with subdued oil prices likely to lend support on a quiet day for company results and as investors await key U.S. trade data this afternoon. Few major companies are scheduled to report results, among them Coventry Health Care Inc (CVH.N: Quote, Profile, Research) and Ecolab Inc (ECL.N: Quote, Profile, Research). But Oracle Corp. (ORCL.O: Quote, Profile, Research) will be in focus after announcing hefty job cuts after the closing bell, while video game developer Atari Inc. (ATAR.O: Quote, Profile, Research) will also draw attention after reporting an unexpected quarterly loss. Strategists say while sentiment remains positive as most companies in the S&P 500 index meet or exceed earnings forecasts, U.S. stock markets are likely to consolidate at least until the first Federal Reserve interest rate decision by Ben Bernanke, successor to Alan Greenspan, in March. By 1056 GMT S&P <SPH6>, Nasdaq <NDH6> and Dow Jones industrial average futures <DJH6> were up around 0.2 percent. "Even though there have been a few fund managers cutting their exposure to U.S. equities, the earnings season has proved almost as good as Q3 last year and subdued oil prices could help lift confidence levels. Just over 65 percent of companies in the S&P 500 that have reported have met or exceeded forecasts," said Angus Campbell, market strategist at Finspreads. Crude prices remained under $63 a barrel but edged a little higher as the prospect of supply disruptions deflected attention from swelling U.S. inventories and stemmed a losing streak that has seen oil shed $5 since late January. "Today's major focus will be the U.S. trade balance which is expected to widen a little to $65 billion. Anything greater than the high end estimate of $68.6bn could cause concern among investors that the trade deficit is starting to take up too greater percentage of GDP," Campbell said. Dollar-sensitive U.S. trade data is due to be released at 1330 GMT amid growing concern about the competitiveness of U.S. exporters, especially after recent news of huge job cuts at American car companies. AFTER THE BELL In U.S. corporate news, Oracle said it will cut 2,000 jobs in connection with its acquisition of software maker Siebel Systems and gave a profit outlook for the remainder of the year roughly in line with Wall Street estimates. In extended trade, the stock slipped 1.5 percent to $12.50. For more double click on [ID:nN09227370] Video game developer Atari said there was "substantial doubt" about its ability to continue as a going concern and reported an unexpected quarterly loss, sending shares down more than 40 percent in after-hours trade. For more double click on [ID:nNB3335436] Elsewhere, New York Mercantile Exchange President James Newsome has said the exchange could "realistically" proceed with an initial public offering in September or October, which would follow plans to brings in electronic trading to run alongside its open outcry system. For more double click on [ID:nN095356] Meanwhile, the initial public offering of insurer AmComp Inc. is priced at $9 per share, at the low end of forecast of $9 to $11 per share, according to an underwriter. The 10.5 million share offer is worth $94.5 million. Non S&P 500 companies due to report later include Ambassadors Group Inc (EPAX.OQ: Quote, Profile, Research), Avista Corp (AVA.N: Quote, Profile, Research), Diagnostics Products Corp (DP.N: Quote, Profile, Research), Mettler-Toledo International Inc (MTD.N: Quote, Profile, Research) and WCI Communities Inc (WCI.N: Quote, Profile, Research). Quelle: http://today.reuters.com/investing/...2006-02-10_10-59-16_L10521065:1
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