U.S. stock futures edged higher Tuesday morning, pointing to a potential second day of gains on Wall Street. As investors look to recover from January’s down market, digesting more earnings this morning, they also await some economic data, including housing and auto sales and a Senate hearing on proposed new rules on financial reform.
S&P 500 futures rose 2.8 points to 1089.10 and Nasdaq 100 futures added 4.5 points to 1760.20. Futures on the Dow Jones Industrial Average rose 23 points.
On Monday, the Dow Jones Industrial Average rising 118 points, the Nasdaq Composite rising 23 points and the S&P 500 adding 15 points.
Dow Chemical Co., the largest U.S. chemical maker, posted fourth-quarter profit that exceeded analysts’ estimates amid increased earnings in basic plastics and materials used in electronics. Net income of $172 million, or 8 cents a share, compares with a net loss of $1.55 billion, or $1.68, a year earlier, Midland, Michigan-based Dow said today in a statement. Profit excluding one-time items was 18 cents a share, topping the 12- cent average estimate of a dozen analysts in a Bloomberg survey. Sales increased 15 percent to $12.5 billion. The Dow Chemical Company (NYSE:DOW, $28.63, +$1.54, 5.68%) fell 2.31 percent to $27.97 on Tuesday morning pre-market trading session, while on Monday, shares of Dow Chemical rose 5.68 percent, closed on $28.63.
Barnes & Noble Inc. (BKS) is expected to surge after billionaire Ron Burkle suggested he wants to own more than a third of the book retailer and criticized investment restrictions set up by the company. Barnes & Noble, Inc. (NYSE:BKS, $18.00, +$0.52, 2.97%) jumped 16.94percent to $21.05 on Tuesday morning pre-market trading session, even on Monday, Barnes & Noble shares were up 2.97 percent, closed on $18.00.
ICU Medical’s fourth-quarter profit dropped 18% despite double-digit sales growth. The medical-equipment company also projected 2010 results below analysts’ estimates. ICU Medical, Incorporated (NASDAQ:ICUI, $34.39, -$0.39, -1.12%) fell 6.95 percent to $32.00 on Tuesday morning pre-market trading session, even on Monday, shares of ICU Medical declined 1.12 percent, closed on $34.39.
Tupperware Brands Corp.’s (TUP) fourth-quarter profit rose 28% as the personal-products maker posted higher sales and profits across all of its businesses. The company also issued an in-line first-quarter outlook and raised its full-year earnings target. Tupperware Brands Corp. (NYSE:TUP, $43.38, +$0.92, 2.17%) jumped 1.89 percent to $44.20 on Tuesday morning pre-market trading session, even on Monday, Tupperware Brands shares were up 2.17 percent, closed on $43.38.
Hologic’s fiscal first-quarter profit dropped 32% as the diagnostic-technology company again posted lower sales of its breast-cancer detection product Selenia. But the company raised its earnings and revenue targets for the year. Hologic, Inc. (NASDAQ:HOLX, $15.25, +$0.18, 1.19%) rose 4.98 percent to $16.01 on Tuesday morning pre-market trading session, even on Monday, shares of Hologic climbed 1.19 percent, closed on $15.25.
Cedar Shopping Centers Inc. (CDR) said it plans to sell at least 7.5 million shares, joining the host of companies raising capital to reduce debt levels. The offering would increase the shopping-center owner’s outstanding shares by at least 14%. Cedar Shopping Centers Inc (NYSE:CDR, $7.17, +$0.19, 2.72%) dropped 7.67 percent to $6.62 on Tuesday morning pre-market trading session, while on Monday, Cedar Shopping Centers shares jumped 2.72 percent, closed on $7.17.
Rudolph Technologies Inc.’s (RTEC) fourth-quarter loss–its eighth in a row–narrowed following a prior-year write-down of $227.1 million and it posted earnings, excluding items. The semiconductor-equipment maker’s results topped Wall Street’s expectations. Rudolph Technologies, Inc. (NASDAQ:RTEC, $6.77, +$0.50, 7.97%) rose 12.11 percent to $7.59 on Tuesday morning pre-market trading session, even on Monday, shares of Rudolph Technologies climbed 7.97 percent, closed on $6.77.
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