Tuesday, February 19, 2008

U.S. stock futures climb after three-day break - MarketWatch

U.S. stock futures climb after three-day break - MarketWatch

Wal-Mart Stores (WMT:
WMT) topped forecasts on fourth-quarter earnings, but its 2008 earnings outlook missed analyst expectations. Wal-Mart wobbled in pre-open trade, and recently traded up 1.1%.
After the close of trade, computer giant Hewlett-Packard (HPQ:
HPQ) is due to report earnings.
The metals sector also will be in focus after several steelmakers agreed to pay 65% more for iron ore from Brazil's Vale (RIO:
RIO) . Vale's shares rose over 6% in pre-open trade. U.S. Steel (X:
X) was upgraded to buy form neutral on UBS on expectations the steelmakers will pass on the rise in commodity costs.
Onyx Pharmaceuticals (ONXX:
ONXX) slumped around 20% in pre-open trade after it and Bayer stopped a Phase III trial of Nexavar to treat non-small cell lung cancer, because the drug didn't improve patient survival.
Barclays (BCS:
BCS ) climbed 9% in pre-open trade after the U.K. bank approved a 10% dividend hike and reported a 3% profit fall for 2007. British banks including Barclays and Lloyds TSB (LYG:
LYG ) also rose on Monday in London action after lending rival Northern Rock was nationalized.
Overseas, the FTSE 100 turned considerably higher after early losses, up 1%, while the Nikkei 225 ended 0.9% higher in Tokyo.

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