US Stocks Eye Lower Open on Russia-Ukraine Tension; Mixed Corporate Earnings, Fox Drops Time Warner Bid

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U.S. stocks were set to open lower Wednesday as tension seemed to intensify between Russia and Ukraine and as companies reported a mixed bag of earnings.

In economic data out Wednesday, the U.S. international trade gap unexpectedly narrowed to $41.5 billion from a revised $44.7 billion and compared to the expected widening to $45 billion. The consensus range was between $46.7 billion to $41.0 billion, according to data compiled by Econoday.

In equities, Twenty-First Century Fox ( FOXA ) dropped its bid to buy Time Warner ( TWX ). FOXA was higher 6% while TWX fell 13% before the market opened. Meanwhile Sprint ( S ) was down more than 16% and T-Mobile US ( TMUS ) dropped 8% as Sprint reportedly ended talks to buy its rival due to regulatory headwinds.


U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.39%

-S&P 500 futures down 0.42%

-Nasdaq 100 futures down 0.61%

-Nasdaq-100 Pre-Market Indicator down 0.32%

GLOBAL SENTIMENT

Nikkei down 1.05%

Hang Seng down 0.26%

Shanghai Composite down 1.26%

FTSE-100 down 1.15%

DAX-30 down 1.17%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(-) Chip stocks: unchanged to lower

(-) Software stocks: unchanged to lower

(+/-) Hardware stocks: mixed

(-) Internet stocks: lower

(-) Drug stocks: lower

(-) Financial stocks: lower

(-) Retail stocks: unchanged to lower

(+/-) Industrial stocks: mixed

(-) Airlines: unchanged to lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) AOL (+5.0%) Q2 sales beat estimates

(+) ENPH (+19.6%) Q2 revenue rises 42%

(+) JAZZ (+2.4%) Q2 EPS beats views

(+) NSM (+6.5) Q2 sales top forecasts, reaffirms guidance

(+) THI (+1.8%) Tops Q2 estimates

(+) TC (+3.2%) Forecasts higher gold production for 2014

DOWNSIDE MOVERS

(-) WAG (-14.8%) Won't move tax base to U.K.

(-) GRPN (-17.4%) Wunderlich downgrades stock, cuts PT on Q3 guidance

(-) ARIA (-6.4%) Misses Q2 estimates

(-) CHK (-2.0%) Misses Q2 earnings expectations

(-) CTSH (-13.5%) Q2 revenue miss analysts' estimates

(-) FSLR (-1.9%) Reports Q2 result short of views

(-) MANU (-1.9%) Prices 12-million-share sale at $17 each

(-) PERI (-7.8%) Reports mixed Q2 results

(-) NUS (-14.4%) Reports Q2 sales, earnings well below street

(-) MDLZ (-2.8%) Q2 revenue misses, cuts 2014 sales guidance



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: FOXA , TWX , S , TMUS

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