Schacknow - TODAY'S PRIMER, October 19, 2011

Peter Schacknow, Senior Producer, CNBC Breaking News Desk

U.S. stock futures are pointing to a lower opening on this 24th anniversary of the famous 1987 stock market crash, following disappointing earnings from Apple (AAPL) after Tuesday's closing bell.

Investors are also keeping close watch on earnings and the latest developments out of Europe.

The Dow has now alternated between gains and losses for nine consecutive sessions, though it has gained nearly 6% over that span.

Several high profile earnings reports are out this morning, including Dow components Travelers (TRV) and and United Technologies (UTX) and Wall Street giant Morgan Stanley (MS).

We'll also get the latest numbers from Abbott Labs (ABT), Bank of New York Mellon (BK), BlackRock (BLK), PNC (PNC), and Freeport-McMoRan (FCX), among others.
American Express (AXP), eBay (EBAY), E*Trade (ETFC), Xilinx (XLNX), Wynn Resorts (WYNN), and Western Digital (WDC) are among the companies releasing quarterly numbers after today's closing bell.

Apple (AAPL) clearly leads our list of stocks to watch after posting its first quarterly earnings miss since 2004. Apple posted fiscal fourth quarter earnings of $7.05/share, 34 cents below estimates, with revenue also falling short.
Intel (INTC) shares jumped after hours, as the company posted record third quarter profits and gave an upbeat outlook for the fourth quarter.

Yahoo (YHOO) saw third quarter earnings fall 26%, but the stock rose after hours as Yahoo beat the Street's lowered expectations.

Also seeing bullish after-hours activity: Intuitive Surgical (ISRG), as its sales of robotic surgical equipment soared.

We'll also watch shares of JetBlue (JBLU), as chief financial officer Ed Barnes resigns.

Also on the watch list today: Dow component DuPont (DD) and Monsanto (MON), as DuPont sues Monsanto for alleged patent infringement regarding a process that helps genetically modified corn seeds germinate.

One stock we can't yet watch - but may be able to soon - is Groupon. Multiple reports say the daily deal company will launch its IPO roadshow next week, with an initial public offering likely to value the company at $11 - $12 billion.

Following Tuesday's larger than expected jump in the Producer Price Index, we'll be watching the Consumer Price Index carefully when September figures are released at 8:30am ET. Economists expect CPI to be up 0.3%, with the core rate rising 0.2%. In August, CPI was up 0.4% with the core rate higher by 0.2%.

Also at 8:30am, economists look for September housing starts to post a 4.2% rise, following a 5.0% August drop.

And at 2pm ET, the Federal Reserve is out with its latest Beige Book, the region-by-region assessment of the U.S. economy.

Today will also bring the usual Wednesday weekly readings on mortgage applications from the Mortgage Bankers Association at 7am ET, and oil and gasoline inventories from the Energy Department at 10:30am ET.