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U.S. Futures Fall On Greece Political Uncertainty; Hot Stocks: RAIL, DIS, MAKO, FOSL, EA, WYNN

 May 08, 2012 09:03 AM
 


(By Balaseshan) U.S. stock-index futures pointed to a lower open on the Wall Street, as Greece struggled to form a new government, raising concern about the nation's ability to fix its financial mess as well as renewing debt fears.

Mini Dow industrial average futures fell 32.00 points to 12,927.00. The Nasdaq Futures declined 7.00 points to 2,629.50. Standard and Poor's 500 futures edged 1.80 points lower to 1,364.00.

On Tuesday, Richmond Federal Reserve President Jeffrey Lacker would hold a roundtable discussion with Guilfod Technical Community College students, in Greensboro, North Carolina at 9:45 am. Dallas Federal Reserve President Richard Fisher would speak at the "Growth DFW" event sponsored by the Dallas Convention & Visitors Bureau and the Dallas Regional Chamber at 1:45 pm.

[Related -Wynn Resorts, Limited (WYNN): Strength in WYNN and the Parabolic Price Arc]

U.S. stocks closed Monday on a slightly mixed note after elections in Greece and France heightened uncertainty over Europe's debt crisis.

Hot Stocks Of The Day: RAIL, DIS, MAKO, FOSL, EA, WYNN

FreightCar America Inc. (NASDAQ:RAIL) jumped 17.97 percent in premarket, after the company's first quarter results beat Street's expectations. Earnings per share were $0.81 on revenue of $219.07 million, while Street predicted profit of $0.39 per share on revenue of $170.61 million.

Walt Disney Co. (NYSE:DIS) rose 0.11 percent in premarket, ahead of the company's second quarter results. Street analysts predict profit of $0.55 per share on revenue of $9.56 billion, compared to last year's reported earnings of $0.49 per share on revenue of $9.08 billion.

[Related -Wynn Resorts, Limited (WYNN): Chart Shows This Casino Stock Is Set For A Double-Digit Pop]

Mako Surgical Corp. (NASDAQ:MAKO) plunged 29.71 percent in premarket after the company's first quarter results missed Street's expectations. Loss per share was $0.28 per share on revenue of $19.6 million, while Street predicted a loss of $0.20 per share on revenue of $23.75 million. Looking ahead into the full year,  the company cut its sales volume outlook for its RIO orthopaedic systems to range of 52 to 58 units from previous estimate of 56 to 62 units.

Fossil Inc. (NASDAQ:FOSL) slumped 24.47 percent in premarket after the company guided second quarter below Street's view. For second quarter, the company expects earnings of $0.77 to $0.79 per share and sales growth of about 16% with constant dollar net sales increasing 19%, while Street predicts profit of $0.94 per share on revenue growth of 17%.

Electronic Arts Inc. (NYSE:EA) fell 4.16 percent in premarket after the company guided first quarter below Street's view. The company expects first quarter adjusted loss of $0.45 to $0.40 per share and adjusted revenue of about $500 million, while Street predicts a loss of $0.33 per share on revenue of $577.91 million.

Wynn Resorts Ltd. (NASDAQ:WYNN) slipped 2.10 percent in premarket after the company's first quarter results missed Street's expectations. Adjusted earnings per share were $1.33 on revenue of $1.314 billion, while Street predicted profit of $1.41 per share on revenue of $1.33 billion.

Global Markets:

The European markets traded mixed on political uncertainty, with Germany's DAX falling 0.08 percent to trade at 6,564.15. France's CAC40 fell 1.00 percent to 3,182.08. Britain's FTSE 100 edged 0.18 percent higher to 5,665.07.

Asian markets ended on a mixed note. The Shanghai Composite Index inched 0.12 percent lower to end at $2,448.88. Hong Kong's Hang Seng declined 0.25 percent to close at 20,484.75. Japan's Nikkei 225 edged 0.69 percent higher to close at 9,181.65. India's BSE Sensex finished at 16,546.18, down 2.17 percent.

Market Scan:

Ahead of the opening bell, crude oil lost 0.81 percent to $97.15 per barrel. Gold fell 0.52 percent to $1,630.10 per ounce.
          
In the currency market, the euro gained 0.23 percent against the U.S. dollar at 1.3028 and the British pound edged 0.26 percent higher against the greenback to 1.6153. The dollar edged 0.09 percent lower against the Japanese yen to 79.8150.

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