Stock futures have turned narrowly mixed as pre-market trading
progresses. Flat trade may follow two days of sharp declines. Home
price data and a consumer confidence measure are on tap this morning.
Commodity prices are posting a small bounce as the dollar is lower.
Earnings news has been mostly favorable, but was priced into the
broader market earlier this month, when the averages scratched out
fresh 2009 highs.
On the data calender: Case-Shiller home prices for August at 9 a.m. ET; consumder confidence data for Oct. at 10 a.m. ET.
In company news:
Baidu (
BIDU) is an active decliner after it reports Q3 revs of
$187.3 mln, below the analyst mean of $189 mln on Thomson Reuters.
Earnings were $2.16, ahead of expectations of $1.83. For Q4, the
company expects revenue in the range of $174 to $180 mln, below the
Street view of $205 mln.
LDK Solar (
LDK) gains after saying it expects Q3 revs in the range
of $270 to $290 mln, with wafer shipments between 310 MW and 330 MW and
module shipments between 5 MW and 10 MW. The company's prior guidance
for the third quarter was revenue of $240 to $270 million, wafer
shipments of 260 MW to 300 MW and module shipments of 10 MW to 20 MW.
U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 9 points.
-S&P 500 futures up 1 point.
-Nasdaq 100 futures down 3 points.
-Nasdaq-100 Pre-Market Indicator down 2.67 at 1744.08.
GLOBAL SENTIMENT
Nikkei down 1.5%
Hang Seng down 1.9%
FTSE-100 up 0.4%
PRE-MARKET SECTOR WATCH
(+,-) Large cap tech: mixed
(-) Chip stocks: lower
(+,-) Drug stocks: mixed
(-) Software stocks: mostly lower
(+,-) Internet stocks: mixed
(+,-) Financial stocks: mixed
(-,+) Auto stocks: mixed
(-) Airline stocks: lower
(+,-) Retail stocks: mixed
UPSIDE MOVERS
(+) NOK (+1.5%) unveils first handset to run on China's TD-SCDMA cellular standard.
(+) DRYS (+1.6%) seeing continued upside reaction to evening earnings beat.
(+) BP (+4.8%) beats with earnings.
(+) MDVN (+9.3%) inks development pact with Astellas.
(+) LDK (+6.7%) boosts most of Q3 guidance.
(+) AMTD (flat) beats with earnings, guidance mixed.
DOWNSIDE MOVERS
(-) BIDU (-19.6%) misses with revenue, guides below Street.
(-) AGNC (-5.8%) selling shares.
(-) LTD (-6.9%) seeing continued selling after evening comp store sales warning.
(-) MBRX (-23%) falling sharply despite deal.
(-) CRDN (-8.2%) cuts FY09 guidance.
(-) X (-0.2%) results down sharply vs year ago.
