BUZZ-U.S. STOCKS ON THE MOVE-JPMorgan, Himax Tech, Ziopharm, Tesla

Wed Jan 14, 2015 9:19am EST
 
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U.S. stocks were set for a sharply lower open, putting equities on track to extend a three-day drop, as worries over weak economies globally continued to pressure commodities and as U.S. retail sales for December fell short of expectations. Dow Jones industrial average e-mini futures were down 1.35 percent at 17,299, S&P 500 futures were down 1.18 percent at 1,992.25 and Nasdaq 100 futures were down 0.97 percent at 4,118.

** JPMORGAN CHASE & CO, Tuesday close $58.84, -2.96 pct premarket

The biggest U.S. bank by assets reported a 6.6 percent drop in quarterly profit as legal costs exceeded $1 billion in the wake of government probes into alleged wrongdoing and it set aside more to cover bad loans.

Graphic on bank earnings - here

** GENERAL MOTORS CO, Tuesday close $35.25, -2.98 pct premarket

The car maker's chief financial officer, Chuck Stevens, said the number of car recalls would rise in 2015. The company, at the Global Auto Industry Conference, also said it did not expect to be profitable in Europe in 2015. It added that pricing in international markets was likely to be flat to slightly up and market share in North America would likely remain flat.   Continued...