U.S. stocks were set to open lower on Friday as investors tailored their portfolios to benefit from President-elect Donald Trump’s proposed policies.
Dow Jones industrial average futures were down 0.22 percent at 18,744, S&P 500 futures were down 0.44 percent at 2,157.75 and Nasdaq 100 futures were down 0.52 percent at 4,719.25.
** J.C. PENNEY CO INC, Thursday close $8.81, -6.36 pct premarket
The department store operator reported a surprise 0.8 percent fall in quarterly comparable-store sales, reflecting weak traffic, increased competition from online and off-price retailers and a general shift away from spending on apparel.
** WALT DISNEY CO, Thursday close $94.96, +2.59 pct premarket
The media company executives promised earnings growth for the next two years, easing investor concerns over a quarterly drop in ad sales and subscribers at its ESPN sports network.
** NVIDIA CORP, Thursday close $67.77, +17.16 pct premarket
The company reported its biggest quarterly revenue growth in more than six years as demand soared for its gaming chips used in personal computers.
** PTC THERAPEUTICS INC, Thursday close $6, +80.17 pct premarket
European Medicines Agency’s Committee for Medicinal Products for Human Use recommended renewal of conditional marketing authorization of Translarna for treatment of nonsense mutation Duchenne muscular dystrophy.
** ALIBABA GROUP HOLDING LTD, Thursday close $94.34, -1.53 pct premarket
Chinese e-commerce company’s Singles’ Day sales surged past last year’s 91.2 billion yuan ($13.36 billion) total, but growth was markedly slower than in 2015 as shoppers sought even bigger price cuts.
** COMMSCOPE HOLDING, Thursday close $34.11, -3.02 pct premarket
Top shareholder Carlyle Group divested its remaining position in the network gear maker.
** CONOCOPHILLIPS, Thursday close $44.78, -1.54 pct premarket
The largest U.S. independent oil producer will sell up to $8 billion in natural gas assets and trim its capital budget by 4 percent next year to provide funds to bolster operations, executives said. (Compiled by Sruthi Shankar in Bengaluru; Editing by Anil D‘Silva)