Tuesday, January 15, 2008

U.S. futures lower after Citi, Merril injections, retail report - MarketWatch

U.S. futures lower after Citi, Merril injections, retail report - MarketWatch


Financials were in focus, as Citigroup (C:
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, , ) said it would cut its dividend by 40%, and get a $12.5 billion capital injection from investors including Singapore and Kuwait after reporting a $9.8 billion quarterly loss.
Merrill Lynch (MER:
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, , ) meanwhile announced it was getting a $6.6 billion injection, notably from sovereign wealth funds of Kuwait and Korea as well as Japan's Mizuho Corporate Bank (MFG:
MFG
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, , ) .
Merrill Lynch lost 1.9% in pre-open deals, and Citi slipped 1.6%.
Intel (INTC:
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, , ) after the close will report its quarterly performance.
Genentech (DNA:
DNA
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, , ) fell 2.3% in pre-open trade after the biotech said late Monday that its fourth-quarter profit rose 6%.
AstraZeneca (AZN:
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, , ) said it would test its Crestor drug against Pfizer's (PFE:
PFE
Nokia (NOK:
NOK
The Nikkei 225 fell below the 14,000 level in Tokyo for the first time since November 2005. Losses for drugmakers as well as retailers pulled the FTSE 100 down 1.6% in London. End of Story


Posted by st0ckman at 9:21 AM

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