U.S. PRE-MARKET INDICATORS
-Dow Industrial futures down 5 points.
-S&P 500 futures up 6 points.
-Nasdaq 100 futures up 7 points.
-Nasdaq-100 Pre-Market Indicator up 2.67 at 1608.65.
GLOBAL SENTIMENT
Nikkei down -0.3%
Hang Seng up 2.8%
FTSE-100 up 1%
PRE-MARKET SECTOR WATCH
(-,+) Large cap tech: mixed
(+) Chip stocks: firmer
(+,-) Small cap stocks: mixed
(+,-) Drug stocks: mixed
(+,-) Software stocks: mixed
(+,-) Internet stocks: mixed
(+) Financial stocks: mostly firmer
(-,+) Auto stocks: mixed
(-,+) Airline stocks: mixed
(-,+) Retail stocks: mixed
UPSIDE MOVERS
(+) FNM (+4%) regains NYSE minimum price listing.
(+) HGSI (+3.8%) gaining amid favorable published scientific article.
(+) SVA (+2.9%) gets initial order for H1N1 vaccine.
(+) LTXC (+24.8%) gets analyst upgrade.
(+) NVLS (+4%) continues evening upside that followed narrower Q3 loss estimate, Q4 guidance above Street.
(+) SNDA (+3.7%) beats with Q2 results, files shelf registration.
(+) AMED (+5.4%) reaffirms 2009 guidance.
(+) RBS (+0.1%) won't call bonds.
DOWNSIDE MOVERS
(-) HRB (-4.1%) reports Q1 loss that's just wider than Street estimate, backs FY EPS guidance range that straddles Street view.
(-) ARRY (-21%) says top-line data from rheumatoid arthritis trial fails to meet endpoint.
(-) ANF (-3.3%) cuts to Sell at Citi.
(-) ZQK (-13.3%) continues evening slide that followed in-line earnings.
MARKET DIRECTION
Stock futures pared early gains and are trading narrowly mixed after the latest read on the job market.
August non-farm payrolls fell by 216,000, the government reported,
slightly fewer cuts than Wall Street economists expected. But the
decline marks the 20th straight month for contraction and serves as a
reminder that any job market recovery typically lags signs of revival
in other pockets of the economy.
In fact, the unemployment rate rose more than expected, hitting a 26-year high at 9.7%.
June and July payrolls are down by a revised combined 49,000.
U.S. stocks made a late move to close at or near session highs
Thursday. The modest gains on the day were enough to snap a four-day
slide for stocks after the major averages had carved out fresh 2009
highs early last week.
Trading volume could be light after the number as investors check out for the three-day Labor Day holiday weekend.
This weekend also features a meeting of finance ministers from the
Group of 20 leading economies. Attendees are expected to talk about the
timing for removing global stimulus measures, with some disagreement
anticipated.
Company news was slim in today's pre-market session.
LTX-Credence (LTXC) is an active-volume gainer after Needham reportedly upgraded the stock to Strong Buy from Hold.
On the downside, H&R Block (
HRB) fell after it reported a Q1
loss from continuing operations of $0.39, matching the year-ago loss
and slightly deeper than the Thomson Reuters mean analyst estimate for
a loss of $0.37. Revenue was up 1.3% to $275.5 million. The Street
looked for $280 million. The company continues to expect its fiscal
2010 earnings from continuing operations will be in the range of $1.60
to $1.80 per share. The Street is at $1.65.
Gold futures retreated over $6 earlier but are more recently down
$3.20 to $994.50 an ounce after Thursday's close of $997.70 in New
York, the highest in six months.
October crude is up $0.32 at $68.28 a barrel.
