UNITED STATES

Mattel Inc reported a smaller-than-expected second-quarter profit as the impact of the weaker euro offset strong Hot Wheels and Barbie sales and the boost the No. 1 toymaker got from its license for the Hollywood blockbuster Toy Story 3.

Stock index futures pointed to a lower open on Friday after Citigroup and Bank of America as well as bellwether GE posted disappointing revenues, underscoring corporate America's struggles against economic headwinds.

Stock index futures were little changed on Friday after General Electric Co's and Bank of America's profits topped expectations but revenues declined, underscoring corporate America's struggles against headwinds in the economic recovery.

Mattel Inc reported a smaller-than-expected quarterly profit as the impact of the weaker euro and disappointing cost-cutting efforts offset strong Hot Wheels sales and the boost the company got from its license for the Hollywood blockbuster Toy Story 3.

U.S. video games producer Electronic Arts Inc is selling out of Ubisoft Entertainment SA six years after buying a big chunk of the world's third-largest independent video games publisher.

Bank of America Corp , the largest U.S. bank by assets, reported higher-than-expected second-quarter profit as credit costs declined.

General Electric Co reported a 16.1 percent rise in profit, topping analysts' expectations and ending a streak of nine quarters of decline, on strong demand for healthcare and oil and gas equipment.

Stock index futures were higher on Friday after quarterly profits from General Electric Co and Bank of America Corp topped estimates as earnings season heated up.

Citigroup Inc and AIG classified more than $11 billion in loans as sales in the second half of 2009, masking the companies' risk levels, filings with the U.S. Securities regulator showed.

Google Inc missed Wall Street's quarterly profit estimates for the first time in two years after a spike in expenses offset a 24 percent revenue jump, but it vowed to keep investing in new businesses to drive long-term growth.

President Barack Obama heard a sobering message from Warren Buffett when he asked for the investment guru's views about the economic recovery, according to an interview Obama gave NBC News on Thursday.

Agricultural Bank of China is confident that its 2010 net profit will exceed its previously announced target after its massive share offering, a senior executive at the country's third-biggest bank said.

Analysts say further dlr weakness may be short-lived Euro's outlook improved by break above Ichimoku cloud Option structures at $1.3000 hampering further euro gains

World stocks eased on Friday on a worsening outlook for the U.S. economy that also pushed the dollar to 7-month low against the yen and near a 2-month trough versus the euro.

Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were little changed at 0757 GMT (3:57 a.m. EDT), pointing to a flat open on Wall Street on Friday.

Global oil prices remained under $77 in highly volatile Asian trade as equity markets fell across the region while concerns over potential storms on the east coast of US helped the black gold. Light sweet crude for August delivery was seen trading at $ 76.71 a barrel at 11.30 a.m Singapore time while ICE Brent for September, the front-month contract after August expired on Thursday, gained 1 cent to $76.10 on the Comex.

Gold prices gained in Asian trade Friday mainly on a weak dollar while fragile US and China economic growth data boosted its appeal as an alternative asset. Gold for immediate delivery was seen trading at $ 1208.87 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery were at $1,209.30 per ounce.

Citigroup Inc said in a letter to the U.S. securities regulator it had unintentionally classified as much as $9.2 billion of repurchase agreements as sales at one point, when they should have been shown as borrowings.

The dollar hovered near a 2- month low and the Nikkei slumped amid weak Asian stock markets as the outlook for the U.S. economic recovery worsened.

The first new prescription weight-loss pill in more than a decade failed to win backing from U.S. health advisers, who said safety concerns about the drug outweighed its ability to help obese patients shed pounds.

Hot on the heels of the FOMC downgrade of U.S GDP softer than expected Chinese data triggered a selloff of higher yielding Currencies in Asia as concerns over the potential slowdown in global growth resurfaced.