SAN FRANCISCO (Thomson Financial) - TF North America Daybook - Tuesday,
April 8, 2008
MAJOR U.S. EQUITY INDEXES:
Wall Street is looking at a lower open Tuesday after Alcoa Inc.'s first-quarter
profit fell short of analyst estimates, and chip maker Advanced Micro Devices
Inc. issued a sales warning and said it planned to cut 10% of its work force.
According to spread bettors IG Index, the Dow Jones industrial average is
expected to open down 64 points at 12,548. S&P 500 futures were off 6.70 points
at 1,365.50, while Nasdaq 100 futures fell 7.75 points at 1,858.
Wall Street Monday started the week with a narrowly mixed performance. The
Dow industrials rose 3.01 points, or 0.02%, to close at 12,612.43, the Nasdaq
composite index fell 6.15 points, or 0.26%, to 2,364.83, and the S&P 500 index
closed up 2.14 points, or 0.16%, at 1,372.54.
The yield on the benchmark 10-year Treasury note rose to 3.54% from 3.47%
late Wednesday, and light, sweet crude rose $2.70 to $108.93 a barrel on the New
York Mercantile Exchange.
ECONOMIC DATA:
- Pending home sales index for February, 10 a.m. ET, 86.3 estimate
- Investor's Business Daily/TechnoMetrica Market Intelligence optimism index for
April, 10 a.m. ET, 41.0 estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate Time
Chattem Inc. CHTT 1Q $ .97 BMO
Layne Christensen LAYN 4Q .37 NTS
MSC Industrial Direct MSM 2Q .69 NTS
Sealy Corp. ZZ 1Q .11 AMC
Figures in parentheses denote losses.
AFTER-HOURS ACTION:
After the closing bell Monday, Advanced Micro Devices said it will cut 10%
of its work force and warned that first-quarter sales were lower than expected.
Alcoa Inc. said first-quarter earnings fell 54% as higher raw material and
energy costs and a weaker dollar cut into results.
COMPREHENSIVE EARNINGS LIST:
AGL (AMC-ET), CNBKA (AMC-ET), MIND (AMC-ET), ZZ (AMC-ET), CHTT (BMO-ET), ATS
(NTS), SHI (NTS), AFFM (NTS), AIRI (NTS), LAYN (NTS), MSM (NTS), SUBK (NTS)
BMO - Before market opens
AMC - After market closes
NTS - No time supplied
Joseph Woelfel
jw/gm/jw
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|