U.S. stock index futures signal lower open; TI eyed
PARIS, July 24 |
PARIS, July 24 (Reuters) - * U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.08 percent, Dow Jones futures down 0.03 percent and Nasdaq 100 futures down 0.23 percent at 0912 GMT.
* Texas Instruments Inc will be in focus after the tech bellwether's second-quarter profit beat Wall Street expectations but the company warned that its third-quarter revenue would be weaker than usual for this time of year as customers are cautious due to global economic uncertainties.
* European stocks were slightly down in morning trade, adding to the market's two-session slide, as a weaker-than-expected German purchasing managers' survey showed private sector activity in Europe's largest country contracting for a third straight month.
* An even gloomier picture for the overall euro zone's private sector, which shrank for a sixth month in July as manufacturing output nosedived, added to the likelihood that the bloc will slump back into recession.
* Investors expected a flurry of earnings on Tuesday, from companies such as Apple, Broadcom, DuPont , Lockheed Martin, AT&T, and UPS.
* On the macro front, investors awaited U.S. flash Markit Manufacturing PMI data for July. Economists in a Reuters survey expect a reading of 52.0 versus 52.5 in the final June report.
* Software maker VMware Inc said it will acquire privately held Nicira Inc for $1.05 billion in cash to expand its portfolio and establish a leading position in virtualized networks.
* Pfizer Inc said on Monday that its experimental Alzheimer's disease treatment failed to prove effective in one of four high-stakes late-stage trials in patients with mild to moderate forms of the memory-robbing disease.
* U.S. chipmaker Volterra Semiconductor Corp posted lower-than-expected quarterly results as research and development costs rose, sending its shares down 6 percent in trading after the bell.
* Tool maker Stanley Black & Decker said it agreed to acquire privately held Infastech, a maker of engineered mechanical fasteners, for $850 million in cash to expand its footprint in emerging markets.
* World number two truck maker Volvo's order bookings suffered a deeper-than-expected fall in the second quarter, hit by slumping demand in North America and Europe, but it stood by its outlook for its two top markets in the face of growing uncertainty.
* U.S. network equipment maker Cisco gained unconditional EU regulatory approval on Tuesday for its $5 billion purchase of TV software developer NDS to reinforce its presence in the video communications market.
* South Korea's POSCO, the world's fourth-biggest steelmaker, reported a 29 percent fall in quarterly operating profit as orders slowed and cheaper imports from China and Japan undercut prices at home.
* U.S. stocks fell for a second straight session on Monday, as Spain appeared closer to needing a national bailout and poor corporate results weighed on the market.
* The Dow Jones industrial average fell 101.11 points, or 0.79 percent, to close at 12,721.46. The Standard & Poor's 500 Index declined 12.14 points, or 0.89 percent, to 1,350.52. The Nasdaq Composite Index shed 35.15 points, or 1.20 percent, to close at 2,890.15.
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