US Stocks Set For Higher Open as Jobless Claims Drop, Productivity Gains

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US stocks were poised for another open higher Thursday amid positive quarterly earnings reports, with Twitter being a notable exception, and upbeat economic data.

Initial jobless claims in the week ended Feb. 1 fell 20,000 to 331,000 compared to the 337,000 consensus. Meanwhile Q4 non-farm productivity rose 3.2% compared to the consensus for a 2.6% increase and against the upward revised 3.6% increase in productivity in Q3.

Later today, Fed Governor Daniel Tarullo is set to testify before the Senate Banking Committee on bank oversight and Boston Fed President Eric Rosengren, who is not a voter on the open-market committee, will speak. Rosengren doesn't agree with reducing the pace of asset purchases but has nevertheless said he is "comfortable" with the current approach.

In equities, Twitter ( TWTR ) was the biggest loser, shedding 22% before the market open after its Q4 results disappointed investors. Among gainers were the internet services company AOL ( AOL ), up 4.3%, and retail giant Costco ( COST ), up 2.5%, on improved earnings.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.35%

-S&P 500 futures up 0.34%

-Nasdaq 100 futures up 0.44%

-Nasdaq-100 Pre-Market Indicator up 0.28%

GLOBAL SENTIMENT

Nikkei down 0.18%

Hang Seng up 0.72%

Shanghai Composite down 1.14%

FTSE-100 up 0.86%

DAX-30 up 0.79%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: higher

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+/-) Airlines: mixed

(+/-) Autos: mixed

UPSIDE MOVERS

(+) LB (+2.3%) Comparable store sales rise 9%; lifts Q4 EPS guidance

(+) GMCR (+39.6%) Sells 10% of co to KO (+2%) for $1.25 billion

(+) YELP (+8%) Sets FY revenue guidance above street view

(+) KKR (+4.7%) Q4 economic net income exceeds expectations

(+) ALU (+7.7%) Swings to Q4 profit; may sell phone unit to Huaxin

(+) MWW (+12.2%) Q4 earnings, Q1 guidance tops expectations

(+) PRGO (+2.4%) Q2 adjusted EPS jumps 45%; raises guidance

(+) GLUU (+20.4%) Reports Q4 beat, sets guidance above views

(+) AKAM (+17.3%) Q4 exceeds expectations

DOWNSIDE MOVERS

(-) GM (-3.3%) Q4 adjusted earnings miss views

(-) P (-9.3%) Q4 revenue misses views; predicts Q1, FY below analyst views

(-) ATML (-7.3%) Reports Q4 earnings shy of expectations



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: TWTR , AOL , COST

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