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Futures Flat Ahead Of Reports, G20 Summit; Herbalife (HLF) Jumps

 February 15, 2013 09:11 AM
 


(By Balaseshan) U.S. stock-index futures pointed to a flat opening on the Wall Street as investors await new economic reports and the G20 summit in Moscow. Eurozone growth concerns too weighed on the sentiment.

Mini Dow Industrial Average futures fell 2 point to 13,948. The Nasdaq futures rose 1.25 points to 2,768.50. Standard and Poor's 500 futures inched 0.25 points lower to 1,518.25.

On the U.S. data front, the Empire State Manufacturing Survey indicated that conditions for New York manufacturers improved for the first time since the summer of last year. The New York Federal Reserve's empire state manufacturing index rose to positive 10.0 in February from negative 7.78 in January, while economists expected a reading of negative 2.0.

[Related -Herbalife Ltd. (HLF) Q3 Earnings Preview: What To Watch?]

The Treasury is scheduled to release data on the flow of financial instruments into and out of the U.S. at 9 a.m. ET. The Federal Reserve's industrial production report is set to be released at 9:15 a.m. ET, with expectations of a 0.2 percent rise in output last month.

The University of Michigan's consumer sentiment reading is expected to inch higher to 74.8 last month from a preliminary reading of 73.8.

On the European front, the eurozone slipped deeper than predicted into recession in the fourth quarter due to weaker than expected GDP figures from Germany and France. Data showed the recession in the euro area deepened with the worst performance in almost four years, according to the Bloomberg.

On Thursday, U.S. stocks ended on a mixed note as better than expected jobs report and a flurry of merger deals overshadowed weaker-than-expected growth data from Europe and Japan.

Hot Stocks Of The Day: KRFT, HLF, CBS, BKW, QLIK, LOGM, IPGP

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Kraft Foods Group Inc. (NASDAQ: KRFT) slid 1.08 percent in premarket after the food and beverage company said its fourth-quarter earnings will reflect charges and the impact of greater-than-anticipated trade inventory reductions. The company also sees lower revenues.

Herbalife Ltd. (NYSE: HLF) jumped 19.73 percent in premarket after activist investor Carl Icahn reported a 13 percent stake in the company. Icahn, who along with his affiliates now own a total of about 14 million shares of Herbalife, said he acquired the shares as he believed that they were undervalued.

CBS Corp. (NYSE: CBS) declined 1.05 percent in premarket after the company reported lower than expected fourth quarter results due to lower streaming revenue. CBS also plans to repurchase an additional $1 billion of its Class B common stock in 2013, and initiate the accelerated share repurchase action in the first quarter.

Burger King Worldwide Inc. (NYSE: BKW) added 6.76 percent in premarket after the fast food hamburger chain posted an increase in quarterly earnings despite a 30.3 percent drop in revenue. Organic revenues grew 5.6%, excluding the impact of refranchising and FX headwinds.

Qlik Technologies Inc. (NASDAQ: QLIK) climbed 18.63 percent in premarket after the company posted better than expected fourth quarter results and guided fiscal 2013 above consensus.

LogMeIn Inc. (NASDAQ: LOGM) plunged 25.19 percent in premarket after the company issued first quarter and fiscal 2013 guidance that was below market expectations despite better than expected fourth quarter results.

IPG Photonics Corp. (NASDAQ: IPGP) fell 8.75 percent in premarket after the company posted lower than expected fourth quarter results despite in line first quarter guidance.

Global Markets

European markets traded mixed, with Germany's DAX down 0.02 percent to trade at 7,629.44. France's CAC40 rose 0.27 percent to trade at 3,679.58. The U.K.'s FTSE 100 inched 0.18 percent higher to trade at 6,338.68.

Asia markets ended mixed. The Shanghai Composite Index added 0.57 percent to end at $2,432.40. Hong Kong's Hang Seng gained 0.13 percent to close at 23,444.56. Japan's Nikkei 225 fell 1.18 percent to end at 11,173.83. India's Sensex closed at 19,468.15, down 0.15 percent.

Commodity & Currency Scan

Ahead of the opening bell, crude oil futures traded 0.67 percent lower at $96.65 per barrel. Gold futures inched 0.79 percent higher to $1,622.01 per ounce.

In the currency market, the euro shed 0.24 percent against the U.S. dollar to 1.3331, while the British pound inched 0.06 percent lower to 1.5484. The dollar added 0.29 percent against the Japanese yen at 93.1500.

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