SAN FRANCISCO (Thomson Financial) - TF North America Daybook - Wednesday,
April 2, 2008
MAJOR U.S. EQUITY INDEXES:
U.S. stocks look poised to open lower Wednesday after big gains in the
previous trading session.
S&P 500 futures were down 3.90 points to 1366.60, while Nasdaq futures were
off 0.75 points to 1857.00.
On Tuesday, Wall Street began the second quarter with a big rally as
investors rushed back into stocks.
The Dow Jones industrial average surged 391.47 points, or 3.19%, to close at
12,654.47, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75, and the
S&P 500 index gained 47.48, or 3.59%, to 1,370.18. The 10-year Treasury note's
yield rose to 3.55% from 3.43% late Monday, and crude oil fell 60 cents to
settle at $100.98 on the New York Mercantile Exchange.
ECONOMIC DATA:
- Factory orders for February, 10 a.m. ET, -0.6% estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate Time
Best Buy Co. BBY 4Q $ 1.65 BMO
CarMax Inc. KMX 4Q .16 BMO
Micron Technology MU 2Q (.36) NTS
Monsanto Co. MON 2Q 1.72 BMO
Research In Motion RIMM 4Q .70 AMC
Ruby Tuesday RT 3Q .18 AMC
Figures in parentheses denote losses.
AFTER-HOURS ACTION:
After Tuesday's close of trading, Pfizer Inc. said it ended a late-stage
study of its experimental advanced melanoma treatment tremelimumab after a data
review showed it wasn't more effective than standard chemotherapy. Immucor Inc.
said its profit rose 29% in its fiscal third quarter on higher sales of blood
testing systems. LoJack Corp., which makes vehicle-tracking devices, slashed its
guidance for 2008 because of declining new car sales.
COMPREHENSIVE EARNINGS LIST:
LULU (7:30 a.m. ET), ANGO (AMC-ET), LNDC (AMC-ET), RET.TO (AMC-ET), RIMM
(AMC-ET), RT (AMC-ET), BBY (BMO-ET), KMX (BMO-ET), MON (BMO-ET), RSC (BMO-ET),
SVM (BMO-ET), KUN (NTS), BDR (NTS), FNLY (NTS), MU (NTS), RGN (NTS), UNF (NTS)
BMO - Before market opens
AMC - After market closes
NTS - No time supplied
Gabriel Madway
jw/gm/jw/jw/gm/jw
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