Ub News

U.S. stock futures weakened on Thursday, with worries about Europe’s national debts back offsetting the impact from Cisco Systems’ upbeat report.

S&P 500 futures dropped 6.6 points to 1089.80 and Nasdaq 100 futures fell 7 points to 1778.50. Futures on the Dow Jones Industrial Average dropped 49 points.

U.S. stocks closed lower Wednesday to end a two-session win streak, hurt as Pfizer’s earnings and outlook disappointed. The Dow Jones Industrial Average fell 26 points and the S&P 500 dropped 6 points, while the Nasdaq Composite rose slightly.

Bloomberg reported, Bank of America Corp. is selling Prysmian SpA shares for 227 million euros ($315 million) on behalf of Taihan Electric Wire Co. The shares being sold represent the remainder of Taihan’s holding in the Italian company. Bank of America Corp. (NYSE:BAC, $15.53, -$0.07, -0.45%) fell 0.64 percent to $15.43 on Thursday morning pre-market trading session, even on Wednesday, shares of Bank of America declined 0.45 percent, closed on $15.53 and BofA climbed 3.12 percent in the past one month trading.

Citigroup plans to expand its retail banking operations across the region, while maintaining its stake in various Chinese and Indian lenders, the bank’s chief executive officer Vikram Pandit has said. Citigroup Inc. (NYSE:C, $3.37, -$0.04, -1.17%) dropped 1.19 percent to $3.33 on Thursday morning pre-market trading session, even on Wednesday, Citigroup shares were down 1.17 percent, closed on $3.37.

Cisco Systems Inc. (CSCO) may climb after the company reported a 23% profit rise and said current quarter sales may grow as much as 26%. Cisco Systems, Inc. (NASDAQ:CSCO, $23.07, +$0.05, 0.22%) rose 1.82 percent to $23.49 on Thursday morning pre-market trading session, even on Wednesday, shares of Cisco Systems climbed 0.22 percent, closed on $23.07.

Steel Dynamics Inc. (STLD) swung to a fourth-quarter profit as lower shipments hurt revenue. Steel Dynamics Inc.’s earnings fell short of Wall Street’s expectations though revenue topped analysts’ estimate. Steel Dynamics, Inc. (NASDAQ:STLD, $15.92, -$0.44, -2.69%) dropped 4.84 percent to $15.15 on Thursday morning pre-market trading session, even on Wednesday, Steel Dynamics shares were down 2.69 percent, closed on $15.92.

Toyota Motor Corp. (TM, 7203.TO) will continue to be in the spotlight. The Japanese auto maker that’s been slammed by worries over its accelerators reported a fiscal third-quarter profit of $1.68 billion which handily topped estimates, and the company upped its fiscal year outlook. Toyota Motor Corp. (NYSE:TM, $73.49, -$4.69, -6.00%) fell 1.54 percent to $73.49 on Thursday morning pre-market trading session, even on Wednesday, shares of Toyota Motor declined 6.0 percent, closed on $73.49.

Affymetrix Inc. (AFFX), a developer of a system to analyze and manage complex genetic information, reported better-than-expected fourth-quarter results. Chief Executive Kevin King said the company expects to generate improved revenue growth and to be profitable in 2010. Affymetrix, Inc. (NASDAQ:AFFX, $5.67, -$0.11, -1.90%) jumped 12.70 percent to $6.39 on Thursday morning pre-market trading session, while on Wednesday, Affymetrix shares dropped 1.90 percent, closed on $5.67.