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U.S. Futures Fall After French And Greek Elections; Hot Stocks: GTSI, FTR, TSN, YHOO, CTSH, AIG

 May 07, 2012 09:11 AM
 


(By Balaseshan) U.S. stock-index futures pointed to a lower open on the Wall Street, as Greece and France elections heightened uncertainty about Europe's ability to solve its debt crisis.

Mini Dow industrial average futures fell 45.00 points to 12,912.00. The Nasdaq Futures edged 10.50 points lower to 2,615.00. Standard and Poor's 500 futures fell 5.20 points to 1,357.30.

There is no major economic events for Monday. On Friday, the U.S. non-farm payrolls report showed that just 115,000 jobs were added in April, trailing economists forecast of addition of 170,000 jobs. Private non-farm payrolls showed 130,000 jobs were added in April, below economists estimate of 175,000 jobs. However, unemployment rate dipped to 8.1 percent from 8.2 percent.

[Related -Yahoo! Inc. (NASDAQ:YHOO): What Will Drive Future Revenue For Yahoo!?]

On Friday, U.S. stocks slumped as report showing employers in America added fewer workers than expected renewed worries about the strength of economic recovery.

Hot Stocks Of The Day: GTSI, FTR, TSN, YHOO, CTSH, AIG

GTSI Corp. (NASDAQ:GTSI) jumped 47.14 percent in premarket after the company has agreed to be taken private. The company would be bought by an affiliate of UNICOM Systems Inc. through a cash tender offer at $7.75 per share in a transaction with an expected total value of about $76.67 million. The per share purchase price of the tender offer represents a premium of about 47.9% over GTSI's closing stock price as of May 4 of $5.24.

[Related -Cognizant Technology Solutions Corp (CTSH): How Penetration Rates Are Faring?]

Frontier Communications Corp. (NASDAQ:FTR) gained 1.80 percent in premarket, after the company's first quarter revenue came in line with Street's expectations. For the full year of 2012, the company expects capital expenditures of $725 million to $775 million and free cash flow, excluding integration expense and integration capital expenditures, of $900 million to $1 billion.

Tyson Foods Inc. (NYSE:TSN) rose 2.27 percent in premarket after the company's second quarter earnings came in above Street's expectations. Profit was 44 cents a share on revenue of $8.3 billion, while Street predicted profit of 39 cents a share on revenue of $8.49 billion. Gross margins contracted to 6.5 percent from 6.7 percent. Looking ahead for the full year, Tyson forecasts sales to approximate $34 billion, mainly driven by price increases related to decreases in domestic availability of protein and rising raw material costs.

Yahoo! Inc. (NASDAQ:YHOO) gained 1.65 percent in premarket.


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