MarketWatch.com - Pre-Market Indications

Tuesday, February 26, 2008

U.S. stock futures flat-to-higher after Monday's gains - MarketWatch

U.S. stock futures flat-to-higher after Monday's gains - MarketWatch

The dollar fell slightly against rivals, notably the euro after the German data. Yields on 10-year Treasury bonds edged lower to 3.89%.
Earnings season continues, with Home Depot (HD:
HD
)
reporting a 27.5% profit fall, a day after smaller rival Lowe's (LOW:
LOW
)
unveiled a 33% profit fall. Home Depot expects 2008 adjusted earnings per share to fall as much as 24% on a 5% sales fall - sending the retailer down 1.1% in pre-open trade.
Office Depot (ODP:
ODP
)
reported a 85% profit fall, and broadcaster CBS Corp. (CBS:
CBS
)
said its profit dropped 15%.
Foster Wheeler (FWLT:
FWLT
)
fell nearly 8% as its 24% profit rise didn't meet analyst estimates and the engineering firm reported a decline in margins.
RadioShack (RSH:
RSH
)
rose nearly 5% in pre-open trade as the electronics retailer reported a 20% profit rise.
Circuit City Stores Inc. (CC:CCV) will be in the spotlight as the Richmond, Va. consumer-electronics retailer received notice that a holder intends to nominate five directors to the 12-member board. Wattles Capital Management LLC, the Las Vegas investment firm specializing in retail, entertainment and consumer products, holds about a 6.5% stake in Circuit City.
Merrill Lynch & Co. (MER:
MER) restated its cash flows for fiscal 2005 and 2006, and noted the restatements were the result of errors that offset each other. Separately, the bank fired two private bankers in Asia due to unspecified "policy breaches."
Stocks in Europe rose, with the FTSE 100 up 1.1% in London. Asia markets were split, with the Nikkei 225 falling 0.6% in Tokyo while the Hang Seng rose 1.4% in Hong Kong.

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