(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 rose on Tuesday after earnings results by companies including IBM helped ease fears of a disappointing earnings quarter: Dow Jones industrial average futures were up 0.30 percent at 17,997, S&P 500 futures were up 0.33 percent at 2,098 and Nasdaq 100 futures were up 0.39 percent at 4,424.75.
** INTERNATIONAL BUSINESS MACHINES CORP, Monday close $166.16, +0.69 pct premarket
The world’s largest technology services company reported a 12 percent fall in first-quarter revenue as it continues to shed unprofitable businesses to focus on cloud-computing initiatives.
** HALLIBURTON CO, Monday close $47.85
** BAKER HUGHES INC, Monday close $68.34, +0.80 pct premarket
** SCHLUMBERGER NV, Monday close $92.47
Halliburton’s decision to cut fewer jobs and keep its logistics network intact to capitalize on its pending merger with Baker Hughes could give Schlumberger NV an edge at a time when cost cuts look like the best way forward. Halliburton is sticking to an “elevated cost structure” as it bets on its capacity to take on more work as a bigger company once the $35 billion deal closes, a move that could cost the company a 2-3 percent decline in near-time margins.
Australia’s antitrust watchdog began a review of the takeover, aiming to issue a decision or outline any concerns about the deal by July 9.
** TECK RESOURCES LTD, Monday close $13.83
The Canadian miner slashed its half-yearly dividend and posted a quarterly profit below analysts’ estimates as prices for steel-making coal and copper remained depressed.
** JPMORGAN CHASE & CO, Monday close $63.24
** CITIGROUP INC, Monday close $53.2
The U.S. Department of Justice wants five banks, including JPMorgan Chase & Co and Barclays Plc, to reach a joint "mega settlement" to allegations they manipulated foreign exchange markets, the Financial Times reported, citing unidentified people familiar with the case. The settlement would see some institutions pay about $1 billion each and is scheduled for mid-May, it said. The settlement talks also include Citigroup Inc, Royal Bank of Scotland Group Plc and UBS Group AG. (on.ft.com/1DFRUjx).
** QUALCOMM INC, Monday close $68.64, +0.47 pct premarket
The U.S. chip maker plans to have its next-generation Snapdragon 820 mobile processors manufactured by Samsung Electronics Co Ltd, tech news website Re/code reported, citing unnamed sources. The move comes after Samsung opted to use its own Exynos processors for the recently launched flagship Galaxy S6 devices instead of the Snapdragon 810, prompting the U.S. firm to cut is financial outlook for the year.
** DUPONT, Monday close $72.84, -1.62 pct premarket
The chemical conglomerate reported a 28 percent fall in first-quarter profit, hurt by a strong dollar. Net income attributable to DuPont fell to $1.03 billion, or $1.13 per share, in the quarter ended March 31, from $1.44 billion, or $1.54 per share, a year earlier.
** CHEVRON CORP, Monday close $110.29
The oil giant urged a U.S. appeals court on Monday to uphold a ruling finding that an American lawyer used corrupt means to secure a $9.5 billion pollution judgment in Ecuador.
** YAHOO INC, Monday close $44.655, +0.77 pct premarket
** MICROSOFT CORP, Monday close $42.905, +0.22 pct premarket
The tech companies added a termination clause to the terms of their search partnership agreement under which either company can end the deal on or after Oct. 1, according to a regulatory filing by Yahoo on Monday. (1.usa.gov/1En0U0y).
** GENERAL ELECTRIC CO, Monday close $27.02, +0.26 pct premarket
** WELLS FARGO & CO, Monday close $54.36
GE is in early-stage talks with the bank about selling its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, according to a source familiar with the situation.
** GENERAL MOTORS CO, Monday close $37.11
Hedge fund manager David Einhorn’s Greenlight Capital has taken a new stake in the automaker, nearly a year after selling off its position, the firm said in a letter to clients on Monday, seen by Reuters.
** ENCANA CORP, Monday close $13.52, +2.37 pct premarket
Canada’s largest natural gas producer is considering selling its natural gas properties in Haynesville Shale basin acreage in Louisiana, Bloomberg reports, citing sources.
** LAM RESEARCH CORP, Monday close $71.99, +9.74 pct premarket
The chip gear maker’s revenue for the first quarter rose 13 percent to $1.39 billion as shipments jumped 19 percent.
** FORTINET INC, Monday close $34.63, +11.32 pct premarket
The security software maker reported a better-than-expected first-quarter profit and revenue.
** QUEST DIAGNOSTICS INC, Monday close $76.15
The world’s largest provider of diagnostic testing services, is working with France’s national health agency to build an expanded database for BRCA1 and BRCA2 gene mutations to better determine patient hereditary risks of breast and ovarian cancer.
** NATURAL RESOURCES INC, Monday close $0.727
Venezuela would prefer the oil company to leave the country, but wants it to sell a project stake to a company with financial muscle to make major investments, state oil company PDVSA said.
** SANMINA CORP, Monday close $23.36
The electronics manufacturing services provider’s profit and revenue for the second quarter missed the average analyst estimate. The company’s revenue forecast for the third quarter also lagged Wall street estimates. (Compiled by Rosmi Shaji in Bengaluru; Editing by Joyjeet Das)