Bank of America, GES, GE, CMCSA, FST, AIG, ALTR Stk Futures Up Before the Bell
U.S. stock futures rose Tuesday on the belief that the crisis over debt in Dubai will be mostly contained in the region as key data on manufacturing looms.
S&P 500 futures rose 9.4 points to 1104.20 and Nasdaq 100 futures climbed 16 points to 1783.50. Futures on the Dow Jones Industrial Average rose 77 points.
U.S. stocks finished higher on Monday, helped by gains from financial firms even as retailers struggled in the aftermath of Black Friday. The Dow Jones Industrial Average rose 34 points, the S&P 500 rose 4 points and the Nasdaq Composite added 6 points.
Bank of America (BAC) will be sending over 40 million credit card customers a one page letter explaning the interest rates and fees that they are being charged starting today. Although the Credit Card ACT provisions that are coming into effect in February do not mandate the move, Bank of America’s letter of explanation is an attempt to meet the new law’s aim at making credit card policies easier to understand. Bank of America Corp. (NYSE:BAC, $15.85, +$0.38, 2.46%) rose 1.07 percent to $16.02 on Tuesday morning pre-market trading session, even on Monday, shares of Bank of America climbed 2.46 percent and closed on $15.85, BofA rose 8.71 percent in the past one month trading.
Guess’s fiscal third-quarter profit inched up 0.1% as the clothing maker posted fewer interest expenses, offsetting a slight decline in revenue and margins. Guess?, Inc. (NYSE:GES, $37.05, -$0.42, -1.12%) rose 9.10 percent to $40.42 on Tuesday morning pre-market trading session, while on Monday, shares of Guess Inc. declined 1.12 percent and closed on $37.05.
The French conglomerate Vivendi has reportedly agreed to sell its 20% stake in the US media company NBC Universal to NBC’s majority shareholder, General Electric (GE), for $5.8m. The deal paves the way for GE, which owns the other 80% of NBC Universal, and the US cable giant Comcast to push ahead with a proposed $30bn joint venture that would create one of the world’s largest media and entertainment companies. General Electric Company (NYSE:GE, $16.02, +$0.08, 0.05%) jumped 1.37 percent to $16.24 on Tuesday morning pre-market trading session, even on Monday, General Electric shares were up 0.05 percent, closed on $16.02 and Comcast Corp. (NASDAQ:CMCSA, $14.66, -$0.22, -1.48%) rose 2.66 percent to $15.05 on Tuesday morning pre-market trading session, while on Monday, shares of Comcast declined 1.48 percent and closed on $14.66.
Forest Oil (FST) said it agreed to sell to SandRidge Energy Inc. (SD) the rest of its Permian Basin properties in West Texas and New Mexico for about $800 million. Forest Oil Corp. (NYSE:FST, $18.32, -$0.18, 0.97%) jumped 5.35 percent to $19.30 on Tuesday morning pre-market trading session, while on Monday, Forest Oil shares were down 0.97 percent and closed on $18.32.
The insurance giant American International Group, Inc. (AIG) closed two transactions that reduce its debt with the Federal Reserve Bank of New York by $25 billion through two debt-for-equity swaps. American International Group, Inc. (NYSE:AIG, $28.40, -$4.9, -14.71%) jumped 6.76 percent to $30.32 on Tuesday morning pre-market trading session, while on Monday, AIG shares were down 14.71 percent and closed on $28.40.
Altera Corp. (ALTR) boosted its guidance for fourth-quarter sales, saying it now expects sales up 15% to 18% from the third quarter, compared with previous estimates of a 6% to 10% climb. The logic-chip maker expects all four of its markets to gain sequentially in the fourth quarter, reflecting a strong new product cycle and improving end market trends. Altera Corp. (NASDAQ:ALTR, $21.03, +$0.12, 0.57%) rose 4.14 percent to $21.90 on Tuesday morning pre-market trading session, even on Monday, shares of Altera jumped 0.57 percent and closed on $21.03.
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