U.S. Stock-Index Futures Drop After Apple Profit Trails Forecast
U.S. stock-index futures retreated after Apple Inc. (AAPL)’s earnings and forecast trailed analyst estimates.
Futures on the Standard & Poor’s 500 Index slipped 0.7 percent to 1,398.9 at 4:44 p.m. in New York after the benchmark gauge climbed 0.3 percent in the regular session. Nasdaq 100 Index futures lost 1.5 percent.
Apple, the world’s largest company by market value, reported profit rose to $8.22 billion, or $8.67 a share, in the fiscal fourth quarter. The average analyst estimate was for inceom of $8.3 billion, or $8.75 a share. Shares of the company were halted for the release of the news.
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