MarketWatch.com - Pre-Market Indications

Tuesday, March 11, 2008

U.S. stock futures rise after three-session losing run - MarketWatch

U.S. stock futures rise after three-session losing run - MarketWatch

Oil futures fell 9 cents to $107.80 a barrel, while gold futures rose $5.70 to $977.50 an ounce.
Tuesday's economic calendar will include January trade data, as well as a speech from Federal Reserve Governor Randall Kroszner.
Texas Instruments (TXN:
TXN
dropped 3% after it lowered first-quarter earnings estimates, blaming demand from wireless, and one customer in particular.
"We have other customers also that haven't fully lived up to initial expectations that we had but it is mostly a particular customer," said Ron Slaymaker, manager of investor relations, on a call with analysts.
Shares in Nokia (NOK:
NOK
a TI customer and the world's largest mobile-phone maker, slumped 5% in Helsinki. But one analyst suspects the problematic customer may be Motorola (MOT:
MOT
"We suspect that this customer is Motorola, which we believe may have lost a further slice of market share in the first quarter. This share loss is likely to have occurred in North America and hence will have been lost to the Koreans as the Europeans remain very weak there," said Richard Windsor, an analyst at Nomura International, in a note to clients.
WellPoint (WLP:
WLP
may drop after the health-benefits firm cut its earnings outlook, which could affect rivals including Aetna (AET:
AET
and Humana (HUM:
HUM
Goldman Sachs cut WellPoint's rating to neutral from buy and cut its view on managed care to neutral from attractive.
"WellPoint's problems reflect company-specific underwriting error, but also reflect industry-wide pricing pressures that are now combined with upward pressure on underlying medical cost trends, substantially increasing the risk that the current cyclical slowdown in managed care becomes an outright downturn," the broker said.
Elsewhere, earnings are scheduled from Kroger (KR:
KR
and Dick's Sporting Goods (DKS:
DKS
among others.
Because of Vale's (RIO:
RIO
slumping stock price, a deal for the Brazilian mining giant to buy Xstrata is in doubt, according to a report in The Wall Street Journal.
Overseas, the FTSE 100 rose 1.3% in London and the Nikkei 225 advanced 1% in Tokyo. End of Story


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