U.S. Morning Call: Stock futures lower on "fiscal cliff" fear
Monday, November 12, 2012 - 03:25
Nov 13 - U.S. stock futures pointing to a lower open with the fiscal cliff weighing on markets as lawmakers go back to work in Washington today for a lame duck session.
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Investors hedged bets as congress prepared to the fiscal cliff here's your morning call for Tuesday. Stock futures point to a lower opening investors worried about the lack of action in Europe as EU leaders fail to agree on the release of the latest round aid for Greece. The fiscal -- also weighing on markets -- lawmakers go back to work in Washington today for a lame duck session. With a seven week deadline hovering Democrats and Republicans need to reach an agreement unscheduled tax hikes and budget cuts. If they -- and jump off the proverbial fiscal cliff. It could trigger a recession with global consequences. Also watch for any irregularities on the trading floor today on Monday the NYSE suspended trading in more than 200 stocks. Didn't problems with the trade matching engine that the companies in question were still active on other exchanges. -- major shake up at Microsoft's 23 year veteran Stephenson not ski head of Microsoft's windows unit is leading company effective immediately. Stocks down 3% in the premarket trade following the news. Microsoft releasing the announcement on its website just two weeks after the launch of windows eight. It's the latest and most prominent in a string of high profile departures from the company. We just had trouble keeping pace with apple and Google Google in mobile computing. And speaking of Google Microsoft is scheduled to go to trial against that -- rival today. The proceeding will determine how much -- Microsoft should pay Google for a license to some of Motorola Motorola mobility patents. -- and stocks to watch we got Goldman Sachs on our radar this morning for a couple of reasons. The Wall Street Journal report the bank will tap the smallest number of executives in more than a decade to join its partnership ranks. Showing the firm is cutting down even at the top. And cutting down it is Goldman also shutting its South Korea asset management business just five years after entering that market. The US judge also rejected Coleman's bid to dismiss it federal housing lawsuit. Over Fannie Mae and Freddie Mac mortgage debt losses on roughly eleven billion of securities. -- to -- city it's in talks to sign a bottling agreement in Myanmar's. This'll ramp up the competition with -- as they fight for market share in the country emerging from decades of isolation. Some big names reporting results this morning let's start with home deep trading its -- higher over 61 dollars and premarket. The world's largest home improvement chain reported a stronger quarterly profit. Benefiting from a recent pick up in the US housing market and also raised its full year outlook. Shares of Xerox trading slightly lower in premarket after it missed earnings estimate by two cents. Xerox also increase in the dividend next year by 35%. An increasing its share buyback program by one billion dollars. In fashion and we've got both sides of the spectrum. Luxury retailer Michael -- reports today and we're also expecting results from discount chain TJ Maxx and after the bell tech Bellwether Cisco will be the center of attention when it reports. Star mines Smart estimates predicts earnings per share economy also in line with the mean at 46 cents. At every Tuesday morning call for more news follow us on Twitter at borders in cider and check out our energy to channel at Reuters dot com slash orders -- unity. I'm Lisa Bernhard this is Reuters.
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