Stock Expected To Open Higher On Upbeat Retail Sales, Earnings


Stock futures got a modest boost from the better than expected December retail sales figures, but the revision to November prevented futures from making any aggressive moves higher. Futures had been moving cautiously higher before earnings from JP Morgan ( JPM ) and Wells Fargo ( WFC ) but with both out of the way, the market can try and regain its footing from yesterday's triple-digit loss in the Dow Industrials. Currently, all three major indices are posting constructive gains in pre-market trading with the tech sector getting a boost from Google's ( GOOG ) acquisition of Nest Labs and Charter Communication ( CHTR ) bid to take over Time Warner ( TWC ).

Retail sales increased 0.2% in December versus the consensus estimate for sales to remain unchanged. Excluding autos, retail sales rose a greater than expected 0.7%. Excluding both autos and fuel sales, total sales were also up a better than expected 0.6%.

-Dow Jones Industrial up 0.17%

-S&P 500 futures up 0.21%

-Nasdaq 100 futures up 0.25%


Nikkei down 3.08%

Hang Seng down 0.43%

Shanghai Composite up 0.86%

FTSE-100 up 0.04%

DAX-30 down 0.17%


(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+) Retail stocks: higher

(+/-) Industrial stocks: mixed

(+) Airlines: higher

(+) Autos higher


MNOV (+92%) Announced positive results from a study that examined the potential clinical efficacy of MN-001 for the treatment of NASH (nonalcoholic steatohepatitis).

ISRG (+11.69%) Expects Q4 revenue of about $576 mln, better than the analyst consensus of $548.5 mln on Capital IQ.

HTCH (+6.96%) Expects Q1 sales of $70 mln, better than the analyst consensus of $64.9 mln on Capital IQ.

OPTT (+56.11%) Its Australian project specific operating unit has reached a funding accord with the Australian Renewable Energy Agency amending a $59.9 million grant.


GME (-13.15%) Announced lower-than-expected guidance for Q4 and full-year 2013 EPS on slower than forecast sales of new software and lower gross margins.

APU (-5.56%) Heritage ETC, L.P commenced a public underwritten offering of 8,000,000 AmeriGas common units that it currently holds.

SSYS (-4.62%) Estimates its non-GAAP diluted EPS for fiscal 2014 to be in the range of $2.15 to $2.25, trailing the Capital IQ consensus of $2.35.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CHTR , GOOG , JPM , TWC , WFC

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