7 Min Read
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s)
U.S. stock index futures were slightly lower on Thursday as investors looked ahead to a report on economic growth and continued to digest recent comments from the Federal Reserve. Dow Jones industrial average futures were down 0.51 percent at 16,837, S&P 500 futures were down 0.62 percent at 1,960 and Nasdaq 100 futures were down 0.68 percent at 4,044.75.
** VISA INC, Wednesday close $214.66, +3.52 pct premarket
The world's largest credit and debit card company reported better-than-expected quarterly profit and revenue on Wednesday and announced a new $5 billion stock buyback program. The company said mobile payment industry would be "a great driver" for business.
** GOODYEAR TIRE & RUBBER CO, Wednesday close $23.03
The tire maker reported a higher-than-expected third quarter profit as raw material costs fell in North America.
** MCG CAPITAL CORP, Wednesday close $3.6
The asset management company said it expects to repurchase up to $75 million of its common stock through a modified "Dutch auction" tender offer at between $3.25 and $3.75. Shares in the offer represent about 53 percent of the company's outstanding common stock.
** TOTAL SYSTEM SERVICES INC, Wednesday close $32.52
The payment processor reported a better-than-expected third quarter adjusted profit, helped by higher transaction volume from North America.
** TRINITY INDUSTRIES INC, Wednesday close $34.34
The railcar maker forecast fourth quarter profit below estimates, due to the impact of an acquisition.
Jurors on Oct. 20 found the company liable for defrauding the U.S. government, and it lost a $175 million verdict over a suspected design flaw in its highway guardrails.
** SHERRITT INTERNATIONAL CORP, Wednesday close $2.86
The Canadian miner's Chief Executive, David Pathe, said there would be a rise in demand for nickel over the next year. The sustained period of excess supply of the metal ends due, in part, to ban on ore exports from world's top nickel supplier, Indonesia, he added.
** AKAMAI TECHNOLOGIES INC, Wednesday close $56.21
The company whose service helps speed up delivery of Web content said on Wednesday a stronger U.S. dollar would hurt revenue growth in the current quarter.
** CIRRUS LOGIC INC, Wednesday close $21.89
The company, which makes audio chips for Apple Inc, forecast much better-than-expected revenue for the current holiday quarter in anticipation of strong iPhone 6 and 6 Plus sales on Wednesday.
** DREAMWORKS ANIMATION SKG INC, Wednesday close $23.29, +2.40 pct
The Hollywood studio reported a 17 percent jump in third-quarter revenue, helped by the strong box-office showing of its most recent movie "How to Train Your Dragon 2".
** METLIFE INC, Wednesday close $52.31
The largest U.S. life insurer reported a better-than-expected third quarter profit, helped by higher premiums and gains tied to its derivatives program. Premiums rose 7 percent to $9.69 billion.
** KRAFT FOODS GROUP INC, Wednesday close $56.91
The maker of Kool-Aid beverages said quarterly profit fell nearly 11 percent as price hikes, designed to offset higher commodity costs, hit demand for its popular products such as Velveeta cheese and Jell-O desserts.
** TIME WARNER CABLE INC, Wednesday close $143.75
The second-largest U.S. cable TV operator lost more residential video customers in the third quarter than in the preceding quarter.
** MOSAIC CO, Wednesday close $42.72
The U.S. fertilizer company's quarterly profit jumped 63 percent as it sold more phosphate at higher prices. "The improving demand momentum for both potash and phosphates that started in the fourth quarter of 2013 continued," Chief Executive Jim Prokopanko said in a statement.
** HARMAN INTERNATIONAL INDUSTRIES INC, Wednesday close $101.31, +1.71 pct premarket
The maker of car audio systems, which counts Volkswagen AG and Toyota Motor Corp among its customers, reported a 22 percent jump in quarterly revenue, helped by strong sales of car audio products.
** MAKEMYTRIP LTD, Wednesday close $28.09, +2.39 pct premarket
Deutsche Bank upgraded the online travel company's stock to "buy" and raised its price target to $38 from $27.
** ELIZABETH ARDEN INC, Wednesday close $15.8
The beauty products company, struggling with weak sales for the past year, is scheduled to report another disappointing quarter before markets open as sales of perfumes, its biggest division, continues to shrink.
** ALPHA NATURAL RESOURCES INC, Wednesday close $2.14
The coal miner, which is struggling with falling prices for steel-making coal and government regulations that are causing electric utilities to close coal-fired power plants, is expected to report a bigger loss and its third straight drop in quarterly revenue.
The company has been cutting costs, and confirmed it had idled two mining complexes and laid off 193 employees
** MASTERCARD INC, Wednesday close $75.99, +2.51 pct premarket
The world's second-largest credit card company is expected to post higher profit as more customers use its cards to make payments.
The company's stock is down as much as 12 percent this year on investor concerns about international sanctions on Russia and the competition from new forms of mobile-based payments.
The company is expected to implement merchant acquiring fee increases in January that could add to its revenue growth and earnings.
** CME GROUP INC, Wednesday close $81.83
The world's largest futures market operator reported a 22.5 percent rise in quarterly profit, helped by strong trading volumes. The owner of the Chicago Board of Trade and Chicago Mercantile Exchange said average daily trading volume rose 12 percent to 13.5 million contracts per day in the quarter.
** IMPERIAL OIL LTD, Wednesday close $46.4
Canada's No.2 integrated oil company reports its third-quarter profit before markets open. The company's Kearl oil sands mine has struggled to meet its 110,000 barrel per day capacity since opening a year ago.
** KELLOGG CO, Wednesday close $62.47
The world's largest maker of breakfast cereal is scheduled to report quarterly earnings before markets open. It had cut its full-year adjusted sales and profit forecasts in July as demand for its Corn Flakes and Special K cereals continued to wane in the United States, its biggest market.
The company has reported five straight quarters of sales declines in its U.S. cereal business, hurt by the rising popularity of other breakfast items such as yogurt and frozen egg sandwiches
** NEW YORK TIMES CO, Wednesday close $13.4
Subscription revenue growth of the media company is slowing though the company made big strides in online advertising. Questions remain about where the company plans to cut after it announced a reduction in staff earlier this month. (Compiled by Yashaswini Swamynathan in Bangalore; Editing by Joyjeet Das)