- Pre-Market Indications

Monday, August 4, 2008

Opening View: Bernanke and Edouard Pressure U.S. Futures

In earnings news, Cooper Tire & Rubber (CTB: View sentiment for CTBsentiment, chart, options) reported a second-quarter loss of $22.2 million, or 38 cents per share. Revenue climbed to $773 million from $730 million. Analysts were looking for a loss of 19 cents per share on sales of $734 million. Looking forward, Cooper Tire said it was "guarded" in its expectations, as customers reduce their driving in reaction to economic pressures.

Elsewhere, EchoStar (SATS: View sentiment for SATSsentiment, chart, options) swung to a second-quarter profit of $47.8 million, or 53 cents per share, as revenue rose to $483 million from $331 million. The DISH Network spin-off said an increase in the sale of advanced products such as receivers with multiple tuners, HD receivers, and HD DVRs was offset by a decrease in unit sales of set-top boxes. Also, components previously sold to DISH Network at cost are now sold at cost plus an agreed-upon margin.

Finally, Humana (HUM: View sentiment for HUMsentiment, chart, options) reported that its second-quarter net income fell 3% to $209.9 million, or $1.24 per share. Revenue rose 14% to $7.35 billion during the quarter. The positive results led Humana to boost its fiscal 2008 earnings guidance. The firm said it now sees earnings between $4.30 and $4.40 per share for the full year, up from a prior range of $4.10 to $4.35. Analysts expected a profit of $1.18 per share for the second quarter and $4.23 for the year. Humana also said it's buying Tennessee health-benefits firm Cariten Healthcare from Covenant Health for $245 million in cash.

Opening View: Bernanke and Edouard Pressure U.S. Futures

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