UPS Strength, AT&T Deal Details Make Waves on Wall Street
After a big two-day rally for the stock market, Wall Street began Tuesday morning on a fairly quiet note. Investors remain optimistic about prospects for the U.S. economy to fend off some of the challenges it has faced over the past two years, but they're also cognizant of the ongoing threats that could send markets reeling. As of 8 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 47 points to 34,950, and S&P 500 (SNPINDEX: ^GSPC) futures had dropped 6 points to 4,499. However, Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were up 15 points to 14,920.
United Parcel Service (NYSE: UPS) was the latest company to report its quarterly earnings results, and investors were generally pleased with the growth they saw from the shipping company. Meanwhile, telecom giant AT&T (NYSE: T) finally announced a move that will allow it to consolidate its growing media empire while giving investors the chance to decide which part of the company they'd prefer to own. Read on for the details below.
Shares of UPS were up nearly 7% in premarket trading Tuesday morning. The delivery service giant reported fourth-quarter results that were encouraging both for the company and for the overall state of the economy.
Source Fool.com