Stock Market 10/22/08 - Pre Market Trading - Nikkei, Asian Markets Fall

Wednesday, 10/22/08 - Dow Jones closed at 9033 on 10/21/08

Today the stock market is set to open a lot lower thanks to the fall of the Asian markets overnight. The Dow Jones futures are looking down 230 points in pre market. Nasdaq futures are looking down 20.

Overnight, Asian markets fell sharply lower Wednesday, with Tokyo's Nikkei index tumbling nearly 7 percent, amid spreading pessimism over corporate earnings outlooks in the U.S. and at home. European markets also opened lower.
As credit markets show signs of improving, investors are turning their attention to dismal forecasts from major U.S. companies and Japanese media reports of disappointing sales and profit results — fears of a global recession are again here.

Stock to Watch 10/22/08

Apple ( AAPL ) - Apple came out with earnings last night and reported $1.26 per share vs $1.11 expected. Mac sales were a little light but the company sold around 6.8 million iphones for the quarter...an astonishing amount!! Looks like Apple will hit the 10 million iphone target everyone was worried about when the stock was at $160. After running to $104 in afterhours last night... Apple is set to open up pre market at $98.50. Please note, Guidance was horrible....probably the worst guidance i've seen Apple give since 2004.

VMware ( VMW ) - VMware reported better then expected earnings and that stock is set to open pre market at $21.50...this after trading around $23 last night. Keep an eye on that stock today.

SanDisk ( SNDK ) - Samsung is dropping their 5.9 billion dollar bid for Sandisk citing weak market conditions.

Boeing ( B ) just came out with earnings... .96eps vs .98eps
Merck ( MRK ) just came out with earnings.... .30eps vs .29eps