U.S. stock futures slightly higher Friday May 13, 2005 7:03 AM ET By Megan DaviesNEW YORK (Reuters) - U.S. stock futures were slightly higher on Friday, lifted by an upbeat outlook from Dell Inc. (DELL.O: Quote, Profile, Research), the world's largest maker of personal computers. But a slightly higher move by oil prices -- a day after they fell nearly 4 percent -- could limit gains. U.S. crude oil prices were up 41 cents to $48.95. Dell reported quarterly earnings after the bell on Thursday that met Wall Street expectations and said revenue growth should pick up in the coming quarter -- easing investor fears that weakness experienced by rivals was spreading. Its shares were up 2 percent after the bell on Thursday to $37.40. UBS upgraded the stock, according to a report on MarketWatch.com, which could help the shares on Friday. Nvidia Corp. (NVDA.O: Quote, Profile, Research), a maker of graphics microchips used in computers and game systems, could also help. Its shares rose over 5 percent after the bell on Thursday, after its quarterly net income tripled and topped estimates. S&P 500 futures were up 1.4 points on Friday, trading slightly above fair value, Dow Jones industrial average futures were up 9 points, while Nasdaq 100 were up 4.5 points. "There were decent numbers out of Dell," said Barry Ritholtz, chief market strategist at the Maxim Group, although he cautioned against drawing broad conclusions about tech demand from the company. "Dell's a unique animal, there's no one out there comparable to them. ... It appears that Dell has been an ongoing market share winner at the expense of their competitors." Among economic news, the University of Michigan releases its May preliminary consumer sentiment index at 9.45 a.m. Economists in a Reuters survey expect a median reading of 88.0, compared with 87.7 in the final April report. Also due are data on import-export prices for April and business inventories for March. In company news, auto parts supplier Delphi Corp. (DPH.N: Quote, Profile, Research) posted a quarterly net loss driven by production cuts at former parent General Motors Corp. (GM.N: Quote, Profile, Research) and its inability to record a deferred tax benefit. Microsoft Corp. (MSFT.O: Quote, Profile, Research), the world's largest software maker, unveiled its new Xbox 360 on Thursday, taking aim at Sony Corp. (6758.T: Quote, Profile, Research) in the video game console market with a machine sporting high-definition graphics and features that make it an entertainment hub for the living room. U.S. stocks fell on Thursday as oil prices slid to a three-month low and hit shares of major energy companies like Exxon Mobil (XOM.N: Quote, Profile, Research), while Wal-Mart Stores Inc.'s (WMT.N: Quote, Profile, Research) profit disappointed. On Thursday, the Dow Jones industrial average slid 110.77 points, or 1.08 percent, to close at 10,189.48. The Standard & Poor's 500 Index fell 11.75 points, or 1.00 percent, to finish at 1,159.36. The technology-laced Nasdaq Composite Index was down 7.67 points, or 0.39 percent, at 1,963.88.
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