HRL, DY, HNZ, HAYN, WMG, SBLK Stk Futures Mixed Before the Bell
U.S. stock futures were mixed Tuesday morning, trading in a tight range after snapping a three-day losing streak Monday with a strong rally. This morning, investors await a slew of economic reports as they digest recent tech earnings and more bank news.
S&P 500 futures rose 1.7 points to 1105.50 while Nasdaq 100 futures fell a half point to 1790.7. Futures on the Dow Jones Industrial Average rose 6 points.
U.S. stocks climbed on Monday as St. Louis Fed President James Bullard said the central bank should consider making mortgage-backed securities purchases even after a program is due to expire. The Dow Jones Industrial Average rose 132 points, the Nasdaq Composite added 29 points and the S&P 500 climbed 14 points.
Hormel Foods Corp. (HRL) is scheduled to announce its fourth-quarter results before the market opens Tuesday. The Austin, Minnesota-based company’s net income for the third quarter increased to $77.17 million, or $0.57 per share, from $51.95 million, or $0.38 per share, in the prior-year quarter. Net sales for the quarter were $1.57 billion, down 6% from $1.68 billion in the prior-year quarter. Hormel Foods Corp. (NYSE:HRL, $38.89, +$0.60, 1.57%) rose 1.31 percent to $39.40 on Tuesday morning pre-market trading session, even on Monday, shares of Hormel Foods rose 1.57 percent and closed on $38.89.
Dycom’s fiscal first-quarter results missed expectations as the specialty construction service provider warned that a key customer was slowing its capital spending and it would post a loss in the second quarter. Dycom Industries, Inc. (NYSE:DY, $8.61, -$0.38, -4.23%) dropped 7.08 percent to $8.00 on Tuesday morning pre-market trading session, even on Monday, Dycom shares diclined 4.23 percent and closed on $8.61
HJ Heinz Co. (HNZ) reported that its second-quarter net income attributable to the company was $231.44 million or $0.73 per share, compared to $276.71 million or $0.87 per share in the same quarter last year. Net income from continuing operations attributable to H.J. Heinz Company common shareholders was $0.76 per share, down from $0.86 per share in the year ago quarter. H.J. Heinz Company (NYSE:HNZ, $43.17, +$0.94, 2.23%) fell 1.18 percent to $42.66 on Tuesday morning pre-market trading session, while on Monday, shares of H.J. Heinz rose 2.23 percent and closed on $43.17.
Haynes International Inc. (HAYN) swung to a wider-than-expected fiscal fourth-quarter loss and missed revenue expectations as the performance-metals company said volumes fell 21%. It also warned that for the first and second quarters, revenue would be below the fourth quarter. Haynes International, Inc. (NASDAQ:HAYN, $27.58, +$0.67, 2.49%) dropped 2.03 percent to $27.02 on Tuesday morning pre-market trading session, while on Monday, Haynes shares were up 2.49 percent and closed on $27.58.
Warner Music Group Corp., one of the nation’s largest record companies, on Tuesday posted a loss in the fourth quarter as severance costs weighed on results despite a strong slate of music releases from artists including Jay-Z and Madonna. Warner Music had loss of $18 million, or 12 cents per share, compared with net income of $6 million, or 4 cents per share. The quarter included $14 million in severance costs. Warner Music Group Corp. (NYSE:WMG, $7.06, +$0.26, 3.82%) fell 0.71 percent to $7.01 on Tuesday morning pre-market trading session, while on Monday, shares of Warner Music rose 3.82 percent and closed on $7.06.
Star Bulk Carriers Corp. (SBLK) swung to a third-quarter loss as the Greek shipping company’s results were weighed down by impairment and other unusual charges along with lower charter rates. But earnings excluding items and revenue beat analysts’ expectations. Star Bulk Carriers Corp. (NASDAQ:SBLK, $3.49, +$0.03, 0.87%) jumped 0.29 percent to $3.50 on Tuesday morning pre-market trading session, even on Monday, Star Bulk shares were up 0.87 percent and closed on $3.49.
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