Thursday, February 14, 2013

U.S. Stock Futures news today february 14 2013

U.S. Stock Futures news today february 14 2013 : A better-than-expected reading on the labor market helped push stock futures off the morning's lows, but stocks remained set to open lower after a weak reading on the European economy jarred investors.

Less than 60 minutes ahead of the open, Dow Jones Industrial Average futures declined 38 points, or 0.3%, to 13920. Standard & Poor's 500-stock index futures lost three points, or 0.2%, to 1514 and Nasdaq 100 futures fell seven points, or 0.2%, to 2763.

Changes in stock futures don't always accurately predict stock moves after the opening bell.

Initial claims for jobless benefits fell more than expected during the latest week from the previous week, to 341,000. Economists expected 360,000 new claims.

H.J. Heinz soared 20% in premarket trading after the company agreed to be acquired by an investment group, including Berkshire Hathaway and 3G Capital in a deal valued at $28 billion, including debt. Berkshire's Class B shares ticked up 0.2%.

Fellow food companies Kraft Foods Group, General Mills and Campbell Soup also advanced, tacking on 1.6%, 0.8% and 1.9%, respectively.

Dow component Cisco Systems advanced 0.2% after the networking company reported better-than-expected second-quarter earnings but provided a somewhat downbeat outlook amid continued economic weakness in Europe and uncertainty surrounding government spending.

European markets were broadly lower, with the Stoxx Europe 600 shedding 0.3%, after euro-zone gross domestic product contracted 0.6% in the fourth quarter, worse than expectations of a 0.4% decline. The bloc's two largest economies, Germany and France, also shrank by more than expected. Germany's DAX index dropped 0.9% and France's CAC 40 shed 0.5%.

Asian markets generally rose as the Bank of Japan left its monetary policy unchanged and said the economy appeared to have stopped weakening. That helped offset data showing Japan's GDP contracted slightly in the fourth quarter, versus expectations of a slight increase.

Japan's Nikkei Stock Average gained 0.5%, and Hong Kong's Hang Seng Index, which reopened after an extended holiday weekend, rose 0.9%. Mainland Chinese markets remained closed for the Lunar New Year holiday.

Crude-oil futures rose 0.2% to $97.21 a barrel, while gold futures declined 0.1% to $1,642.90 a troy ounce. The dollar advanced against the euro and nudged higher against the yen. Yields on the benchmark 10-year U.S. Treasury bond fell to 2.049% as prices rose.

In other corporate news, Constellation Brands surged 32% after agreeing with rival Anheuser-Busch InBev on revised terms of A-B InBev's divestiture of Grupo Modelo's U.S. assets, in which Constellation will be granted perpetual rights for the Corona and Modelo beer brands in the U.S. for $2.9 billion. Constellation will also buy the rest of Crown Imports it doesn't already own for $1.85 billion.

US Airways Group added 3% after the air carrier and the parent of American Airlines formally announced merger plans, which are expected to be completed by the third quarter of 2013.

Artio Global Investors climbed 33% after agreeing to be acquired by the U.K.'s Aberdeen Asset Management for $175 million.

Best Buy shed 0.7%. The shares lost 2% on Wednesday after The Wall Street Journal reported just before the closing bell that the electronics retailer's founder, Richard Schulze, may cancel his plans to take the company private, and may instead line up investors to take a minority stake.

PepsiCo gained 1.9% after the beverage and snack giant reported better-than-expected fourth-quarter earnings and revenue and announced a 5.6% increase in its quarterly dividend.

Angie's List surged 29% after the reviews-based website reported a fourth-quarter profit, while analysts were anticipating a loss, and provided a first-quarter revenue outlook that was above current projections. slumped 20% after the web-based postage services company's fourth-quarter earnings topped estimates, but revenue and its 2013 outlook missed forecasts.

Zillow climbed 8.3% after the real-estate website reported a fourth-quarter profit versus, versus expectations of a breakeven quarter, along with better-than-expected revenue.
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