Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Deals, Microsoft (MSFT), Apple Inc (AAPL), Wal-Mart (WMT), Boeing Co (BA), BP p.l.c. ADS (BP), U.S. Steel (X), Toll Brothers (TOL), Analyst initiations, Economic data, Marvell Technology Group (MRVL), Unilever ADR (UL)
Stock futures were lower this morning as oil rose back above $110 a barrel and investors awaited a barrage of economic data due this day including weekly oil inventories. Other economic indicators include data on employment, manufacturing and productivity. Also, retailers will be announcing August same-store sales. Overall, sales are expected to rise 2%. Meanwhile, the Bank of England and the European Central Bank are deciding their interest rate policy this day, where the ECB could tighten.
The first of the retailers has already reported August sales. Wal-Mart Stores Inc. (NYSE: WMT) stated sales increased 3% in August, beating its forecast. Seems discounts drew shoppers. WMT shares are up over 1% in pre-market.
Unfortunately for Boeing (NYSE: BA), The International Machinists and Aerospace Workers union, which represents nearly 27,000 machinists, voted to strike as they rejected Boeing’s contract offer. The union, however, postponed the strike by 48 hours as the two celebrations go to mediation. Boeing will likely suffer from a strike at a time it’s struggling to stand by its Dreamliner obligations. BA stock is down over 1% in pre-market.
BP PLC (NYSE: BP) shares stand to rise after it finally reached an agreement with its billionaire Russian partners have over TNK-BP. While BP remains with a 50% holding in the venture, it has made many concessions, including agreeing to have the CEO Dudley leave. Shares are up over 2% in pre-market.
Continue reading Before the bell: Futures lower; WMT, BA, BP, TOL, MSFT, UL …
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