BUZZ-U.S. Stocks on the Move-Sinocoking, Apricus, ShoreTel, NCR
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U.S. stock index futures were lower on Monday, on the heels of a fourth week of losses for the benchmark S&P 500, as quarterly results from IBM disappointed: Dow Jones industrial average futures were down 0.64 percent at 16,204, S&P 500 futures were down 0.28 percent at 1,875.75 and Nasdaq 100 futures were down 0.07 percent at 3,801.5.
** IBM CORP, Friday close $182.05, -7.57 pct premarket
IBM said it no longer expected to achieve its 2015 operating earnings target of at least $20 per share after weak client spending resulted in an unexpected fall in quarterly earnings and revenue.
The company also said it would pay contract-chipmaker Globalfoundries Inc $1.5 billion in cash over the next three years to take its loss-making semiconductor unit off its hands.
** SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES INC , Friday close $2.35, +55.74 pct premarket Continued...