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, sending shares of the world’s largest company down in extended trading.
Futures on the Standard & Poor’s 500 Index slipped 0.2 percent to 1,406.1 at 4:59 p.m. in New York after the benchmark gauge climbed 0.3 percent in the regular session. Nasdaq-100 Index futures lost 0.4 percent.
S&P 500 futures tumbled as much as 0.8 percent and contracts on the Nasdaq-100 sank as much as 1.6 percent as trading in Apple was halted for the release of the news. Futures pared their declines as Apple remained above $600 a share in extended trading after briefly dipping below that threshold for the first time since August.
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 income of $8.3 billion, or $8.75 a share.
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