U.S. stocks were set to open higher ahead of the January auto sales report and the National Association of Realtors' pending home sales index for December. The early positive tone appears to be aided by better-than-expected Merck earnings.
Dow component Merck topped estimates, reporting net income of more than $1.6 billion for the fourth quarter, compared to a loss in the year-earlier period. The drug maker announced earnings of 78 cents per share, while analysts expected 74 cents per share. Tyco, Schering-Plough, Emerson, Archer-Daniels, and CME Group all beat estimates while Motorola, Avon, SanDisk, Dow Chemical, PNC Bank and UPS all missed estimates.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
