Bank of America, Citigroup, WAG, MBI, SQNM Stk Futures Mixed Before the Bell
U.S. stock futures edged lower Tuesday after the merger-fueled rally to start the week.
S&P 500 futures fell 0.3 point to 1058.70 and Nasdaq 100 futures slipped 4.2 points to 1718.50. Futures on the Dow Jones Industrial Average fell 2 points.
The largest bank in the United States is being sued for a large sum by one of its own customers, Dalton Chiscolm, because, according to U.S. District Judge Denny Chin, he placed a number of calls to the bank in New York and was consistently given the wrong information from a “Spanish woman.” Since he was given disinformation from a customer service representative, he wants $1,784 billion trillion dollars and an additional $200,164,000, according to the court papers, Reuters reports. Bank of America (NYSE:BAC, $17.22, +$0.62, 3.73%) rose 0.35 percent to $17.28 on Tuesday morning pre-market trading session, even on Monday, shares of Bank of America jumped 3.73 percent, and closed on $17.22, BofA droped 2.33 percent in the past five trading days.
Government of Singapore Investment Corp. said it is confident about the long-term prospects of UBS AG and Citigroup Inc. as the banks overcome challenges returning to profit. Citigroup Inc. (NYSE:C, $4.57, +$0.19, 4.34%) jumped 2.84 percent to $4.70 on Tuesday morning pre-market trading session, even on Monday, Citigroup shares were higher 4.34 percent, and closed on $4.57.
Drugstore operator Walgreen Co. said Tuesday its fourth-quarter profit fell 2 percent, but prescription drugs drove sales higher and the results topped Wall Street expectations despite high unemployment and a weak economy. Walgreen Company (NYSE:WAG, $34.19, +$0.51, 1.51%) rose 10.70 percent to $37.85 on Tuesday morning pre-market trading session, even on Monday, shares of Walgreen jumped 1.51 percent, and closed on $34.19.
MBIA Inc. (MBI) declined 5% after Standard & Poor’s downgraded its main bond insurance unit to non-investment grade status. MBIA Inc. (NYSE:MBI, $8.22, +$0.84, 11.38%) droped 9.25 percent to $7.46 on Tuesday morning pre-market trading session, while on Monday, MBIA shares were higher 11.38 percent, and closed on $8.22.
Sequenom Inc. (SQNM) skidded 44% after the company fired its CEO and research-and-development head after an independent investigation concluded the company failed to put in place adequate controls when it conducted studies on its prenatal Down syndrome test. Sequenom, Inc. (NASDAQ:SQNM, $5.69, +$0.18, 3.27%) fell 41.12 percent to $3.35 on Tuesday morning pre-market trading session, while on Monday, shares of Sequenom jumped 3.27 percent, and closed on $5.69.
Asian stocks also rose on Tuesday to catch up to Wall Street’s rise, with the Nikkei 225 climbing 0.9% in Tokyo.
Oil futures fell 12 cents to $66.72 a barrel, and yields on 10-year Treasury bonds rose 1 basis points to 3.29%.
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