Share “US futures mixed ahead of US earnings season”

US futures mixed ahead of US earnings season

Associated Press Modified: October 9, 2012 at 8:30 am •  Published: October 9, 2012

The global slowdown threatens a weak recovery in the U.S., particularly for global companies like those reporting Tuesday; Alcoa and Yum Brands, the owner of the Taco Bell, Pizza Hut and KFC restaurant chains.

Wall Street expects Alcoa to break even, but had been predicting profits of 12 cents per share from the aluminum maker as recently as July.

The global slowdown had already been reflected at Yum Brands in the second quarter. Yum had gorged on super-sized profit growth from China, but that ended in the second quarter. Operating profit fell 4 percent, when adjusted for currency fluctuations, in the company's most important overseas market.

It's a different story in the U.S., where operating profit was up 26 in the second quarter as all three of its chains had stronger sales, led by Taco Bell.

Analysts expect to Yum Brands to post earnings of 97 cents per share in the third quarter.

Two big banks, JPMorgan Chase and Wells Fargo, post earnings Friday.