Bank of America, Citigroup, TECD, HPQ, ADI, CBY, LDK Stk Futures Up Before the Bell
U.S. stock futures and a broad swathe of commodities moved higher on Monday, as comments from a Federal Reserve member who will vote next year caused investors to exit the greenback to reinvest elsewhere.
S&P 500 futures rose 11.8 points to 1101.90 and Nasdaq 100 futures climbed 17 points to 1780.75. Futures on the Dow Jones Industrial Average rose 97 points.
U.S. stocks by and large lost ground last week, with the Nasdaq Composite retreating 1% and the S&P 500 losing 0.2%, on concerns over the prospects for the U.S. consumer.
Bank of America Corp.’s board may extend its search for a permanent new chief executive officer into 2010 if directors can’t settle on a candidate in the next three days, according to people familiar with the matter. Bank of America Corp. (NYSE:BAC, $16.09, +$0.01, 0.06%) rose 1.12 percent to $16.27 on Monday morning pre-market trading session, even on last week of Friday, shares of Bank of America climbed 0.06 percent and closed on $16.09, BofA fell 2.6 percent in the past one month trading.
Banco Bilbao Vizcaya Argentaria SA, Citigroup Inc. and UBS AG are among the banks with the weakest capital, according to analysis by Standard & Poor’s that seeks to iron out differences in reporting. Citigroup Inc. (NYSE:C, $4.20, -$0.06, -1.41%) jumped 1.19 percent to $4.25 on Monday morning pre-market trading session, even on last week of Friday, Citigroup shares were down 1.41 percent and closed on $4.20.
Tech Data Corp (TECD) reported third quarter net income attributable to shareholders of Tech Data of $43.14 million or $0.84 per share, compared to $16.8 million or $0.33 per share last year. The company noted that the prior year results were adjusted. Tech Data Corp. (NASDAQ:TECD, $42.82, +$1.31, 3.16%) rose 4.55 percent to $44.77 on Monday morning pre-market trading session, even on last week of Friday, shares of Tech Data climbed 3.16 percent and closed on $42.82.
Hewlett Packard (HPQ) is scheduled to release Q4 earnings today, November 23nd, after the market closes. Average analyst estimates for the computer giant are $1.13/share in EPS and $30.36 billion in Revenue. Hewlett-Packard Company (NYSE:HPQ, $50.04, +$0.22, 0.44%) jumped 1.14 percent to $50.61 on Monday morning pre-market trading session, even on last week of Friday, HP shares were up 0.44 percent and closed on $50.04.
Chipmaker Analog Devices Inc. (ADI) is slated to release its fourth-quarter earnings results after the market closes Monday. The Norwood, Massachusetts-based company anticipates earnings from continuing operations for the quarter to be about $0.24 to $0.26 per share, and revenue between about $510 million and $530 million. Analog Devices, Inc. (NYSE:ADI, $27.48, -$0.36, -1.29%) rose 2.62 percent to $28.20 on Monday morning pre-market trading session, while on last week of Friday, shares of Analog Devices dropped 1.29 percent and closed on $27.48.
Cadbury shares hit a fresh two-year high on hopes of a takeover tussle as reports suggested Swiss food group Nestle is considering entering the fray. Kit Kat and Aero maker Nestle is said to be considering its options, which could see it put forward an offer to rival the hostile £9.8 billion bid from US giant Kraft. Cadbury plc (NYSE:CBY, $52.80, -$0.01, -0.02%) jumped 2.58 percent to $54.16 on Monday morning pre-market trading session, while on last week of Friday, Cadbury PLC shares were down 0.02 percent and closed on $52.80.
LDK Solar Co. Ltd. (LDK: News ) said its third-quarter net income attributable to the company’s shareholders was US$29.44 million or US$0.27 per ADS. On average, 10 analysts polled by Thomson Reuters expected loss per share of US$0.10 for the quarter. LDK Solar Co., Ltd. (NYSE:LDK, $8.00, +$0.27, 3.49%) rose 15.62 percent to $9.25 on Monday morning pre-market trading session, even on last week of Friday, shares of LDK Solar climbed 3.49 percent and closed on $8.00.
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