* Cisco, Credit Suisse shares slide after results, outlook
* Jobless claims expected to tick lower
* Futures off: Dow 54 pts, S&P 7.5 pts, Nasdaq 19.25 pts
* For up-to-the-minute market news see []
(Updates prices, adds earnings results, quote, byline)
By Rodrigo Campos
NEW YORK, Feb 10 (Reuters) - U.S. stock index futures fell
on Thursday on disappointing earnings from Cisco and Credit
Suisse before weekly jobless claims data.
Cisco Systems Inc <CSCO.O> shares tumbled 9.5 percent to
$19.95 in premarket trading a day after the network equipment
maker warned about dwindling public spending and reported
weaker quarterly margins. For details, see []
Overseas, disappointing earnings also hurt sentiment, with
European shares off nearly 1 percent after bank Credit Suisse
<CSGN.VX><CS.N> missed profit expectations because of debt
charges. Its U.S.-traded shares dropped 6.4 percent to $43.65.
"Several global earnings reports have taken some air out of
the markets' tires," said Andre Bakhos, director of market
analytics at Lek Securities in New York.
"While there's no cause for concern yet, days like this
prompt on-defense sellers to jump; it's an excuse to sell."
S&P 500 futures <SPc1> fell 7.5 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> tumbled
54 points, and Nasdaq 100 futures <NDc1> were off 19.25
points.
The S&P 500 index's chart shows near-term technical support
at the 1,313 level, getting stronger near 1,300.
Soft drink and snacks maker PepsiCo Inc <PEP.N> posted a
lower quarterly profit, hurt by the weak economy and its shares
fell 1.8 percent to $63.29 premarket.
Sprint Nextel <S.N> posted a 6 percent increase in
quarterly revenue and added mobile subscribers for the first
quarter in more than three years, sending its shares up nearly
3 percent in early trade.
Expedia Inc <EXPE.O>, Kraft Foods Inc <KFT.N> and Goodyear
Tire and Rubber Co <GT.N> are also due to report earnings.
Debt yields rose in indebted European counties on concerns
over the lack of a concrete policy to tackle the euro-zone debt
crisis. The U.S. dollar rose versus the euro and pulled
commodity prices lower.
Weekly jobless claims data, closely followed to track the
recovery of the labor market, is due at 8:30 a.m. (1330 GMT).
Economists in a Reuters survey forecast a total of 410,000 new
filings for unemployment benefits, compared with 415,000 in the
prior week.
At 10 a.m. (1500 GMT), the Commerce Department releases
wholesale inventories for December. Economists forecast a 0.7
percent rise versus a November decrease of 0.2 percent.
Computer security firm McAfee Inc <MFE.N> said hackers
working in China broke into computer systems of five
multinational oil and gas companies to steal bidding plans and
other critical proprietary information. []
On Wednesday, investors took profits after a recent rise in
U.S. stocks, but a late push helped the Dow squeeze out its
eighth straight day of gains.
(Reporting by Rodrigo Campos; Editing by Kenneth Barry)
