US stock futures little changed

NEW YORK — U.S. stock futures were little changed Wednesday after companies offered a mixed picture of how the economy will affect their profits.

Companies are still reporting stronger earnings: Those in the Standard & Poor’s 500 index are on pace to top profits from the previous year for the seventh straight quarter. But economic growth is weak around the world, and some economists worry that a second recession may be coming.

Computer maker Dell Inc. said late Tuesday its profit rose 63 percent last quarter after businesses and government agencies bought more machines. But it also cut its forecast for annual revenue growth because of a shakier demand outlook. It now expects growth of only up to 5 percent, down from its earlier forecast for up to 9 percent. Dell fell 6.5 percent in premarket trading.

But other companies are more optimistic. Office products retailer Staples Inc. raised its profit forecast for the year after saying strong international sales pushed earnings up 36 percent last quarter. Staples shares rose 10.5 percent in premarket trading.

Retailer Target Corp. gave a profit forecast for this year that was above Wall Street’s expectations after reporting a 3.7 percent rise in earnings last quarter. Its stock rose 5.8 percent in premarket trading.

Deere & Co also raised its forecast for full-year earnings. It now expects to earn $2.7 billion this fiscal year, up from a May forecast of $2.65 billion. The maker of tractors and other equipment said its profit rose 15 percent last quarter on strong demand for farm equipment. Deere still edged lower, less than 1 percent, in premarket trading.

About 90 minutes ahead of the opening of trading, Dow Jones industrial average futures rose 38 points, or 0.3 percent, to 11,425. S&P 500 index futures rose 4.30, or 0.4 percent, to 1,196.60. Nasdaq 100 futures rose less than a point to 2,199.50. Stock futures don’t always accurately predict how markets will open. 199.