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Futures Slip Amid Ukraine, Russia Standoff and Mixed Earnings; Techs Settle Salaries Lawsuit

By: MT Newswires
Posted: 4/25/2014 9:13:00 AM
Referenced Stocks: F;CL;AEP;AAPL;GOOG

U.S. stock futures were lower Friday as U.S. and European leaders mull sanctions against Russia amid increased tension on the Ukraine border while companies continued to report mixed earnings.

In economic data, the US flash services and composite PMIs at 09:45 a.m. is expected to have increased to 56.2 in April from 55.5 in March, according to Econoday data. At 09:55 a.m., the Michigan consumer sentiment index is likely to have slipped to 82.5 in April from 82.6 in March.

In equities, Ford ( F ) was lower over 2% in recent pre-market trade after reporting Q1 earnings that missed the street projections. Colgate ( CL ) also slipped nearly 1% even as its Q1 results were in line with the street view. At the other end of the spectrum were the utility American Electric Power ( AEP ), adding 1.8% after reporting a Q1 earnings beat as cold weather drove demand.

Meanwhile, Apple ( AAPL ) and Google ( GOOG ) were slightly lower in pre-market trade after settling a lawsuit that accused them, Intel (INTC) and Adobe Systems (ADBE) of pushing down salaries by not poaching their rivals' employees. The terms of the settlement were not disclosed.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.29%

-S&P 500 futures down 0.31%

-Nasdaq 100 futures down 0.53%

-Nasdaq-100 Pre-Market Indicator down 0.34%

GLOBAL SENTIMENT

Nikkei up 0.17%

Hang Seng down 1.50%

Shanghai Composite down 1.03%

FTSE-100 down 0.27%

DAX-30 down 1.03%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(-) Chip stocks: lower

(+/-) Software stocks: mixed

(+/-) Hardware stocks: mixed

(-) Internet stocks: lower

(-) Drug stocks: lower

(-) Financial stocks: lower

(-) Retail stocks: unchanged to lower

(+/-) Industrial stocks: mixed

(-) Airlines: lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) MSFT (+1.2%) FBR Capital Markets raises PT to $43 vs $40

(+) BIDU (+3.7%) Reports Q1 sales in line with views

(+) VDSI (+6.0%) Q1 income, sales increase vs year-ago

(+) SBUX (+1.6%) Q1 results, Q3 guidance in line with estimates

(+) UA (+1.9%) Stifel upgrades to buy, sets PT at $65

(+) SPWR (+2.3%) Q1 results beat expectations

DOWNSIDE MOVERS

(-) PLUG (-7.3%) Prices 22.6 million share sale at discounted $5.50 each

(-) CYTK (-61.1%) ALS drug trial doesn't meet endpoint

(-) YGE (-15.2%) Prices follow-on offering of 25 million ADS at discounted $3.50

(-) AMZN (-5.9%) Sees Q2 loss amid stock-based compensation

(-) BRCM (-4.5%) Q1 in line, sees Q2 sales at or below street view

(-) CVLT (-20.9%) Reports mixed Q1 results

(-) FB (-1.3%) COO Sandberg sells $17.8 million shares