U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 36 points.
-S&P 500 futures up 7 points.
-Nasdaq 100 futures up 3 points.
-Nasdaq-100 Pre-Market Indicator up 3.2 at 1714.47.
GLOBAL SENTIMENT
Nikkei down 2.3%
Hang Seng down 0.6%
FTSE-100 up 0.6%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: mostly firmer
(+) Chip stocks: mostly firmer
(+,-) Drug stocks: mixed
(+) Software stocks: firmer
(+) Internet stocks: firmer
(-,+) Financial stocks: mixed
(+) Auto stocks: firmer
(-) Airline stocks: lower
(-,+) Retail stocks: mixed
UPSIDE MOVERS
(+) MOT (+3.8%) gets analyst upgrade after last week's earnings beat.
(+) AEZS (+7.8%) reports positive study data in ovarian cancer.
(+) F (+8.3%) beats with results.
(+) HGSI (+32.8%) reports positive Benlysta phase 3 trial data.
(+) AMLN (+8.6%) inks pact, gets payment for obesity compound development.
(+) VRTX (+10.9%) reports positive Phase 2 Hep C study.
(+) PRGO (+4%) beats with earnings, selling Israel cosmetic business.
(+) CLX (+1.9%) beats with earnings, guidance straddles Street.
DOWNSIDE MOVERS
(-) GTXI (-8.1%) receives complete response letter.
(-) CIT (-47.2%) files for Ch. 11.
(-) RIMM (-2%) gets analyst downgrade.
(-) BEAT (-7.6%) gets negative news on Medicare, Medicaid pricing.
MARKET DIRECTION
Stock futures continue to point to a higher start to a week loaded
with earnings and economic data. There are no early economic reports,
but ISM manufacturing data and construction spending are due for
release at 10 a.m. ET.
Steep losses Friday capped weekly declines measuring 4% for the
broad S&P 500. The average also ended down 2% for the month of
October, snapping a streak of seven monthly gains.
The dollar is mostly lower. Oil futures are up $0.47, to $77.47 a
barrel, off earlier highs. Gold futures continue to gain, however, last
up $15.90 to $1,056.30 an ounce.
Active-volume news-driven gainers this morning include:
Ford (
F), which reports Q3 earnings of $0.29 per share. Ex items,
EPS was $0.26 per share, up from a year ago loss of $1.32 per share.
The Street view was a loss of $0.12 per share. Revenue was $30.9 bln,
down $800 mln from the year ago quarter. Analysts were expecting
revenue of $28.3 bln. Ford said it remains on track to achieve or
exceed all of its 2009 financial targets and almost all of its
operational metrics.
HGSI (
HGSI), which along with GlaxoSmithKline PLC (
GSK) announced
that BENLYSTA (belimumab) met the primary endpoint in BLISS-76, the
second of two pivotal Phase 3 trials in seropositive patients with
systemic lupus erythematosus (
SLE).
Motorola (
MOT) is higher after the stock was reportedly upgraded by Citigroup to Buy from Hold.
Active decliners include CIT Group (
CIT), after a weekend filing
for Ch. 11. CIT garnered support from about 90% of voting debt holders
for a prepackaged reorganization plan that could allow the lender to
speed through Chapter 11 and emerge with a new business model by year's
end. Under the plan, bondholders will exchange their debt for new debt
that matures later, as well as nearly all the equity in a reorganized
CIT, the Wall Street Journal reported. The bankruptcy stay would
eliminate some $10 billion in debt from the lender's balance sheet, the
company said. CIT has been weighed down by more than $30 billion in
bond debt.
Among post-bell earnings: SYKE, TXRH, CUTR, CGNX, HTCH.
