US Stock Futures Down, All Eyes On Payrolls Data
US stock futures are lower this morning as investors are awaiting December payrolls report. Futures on the Dow Jones Industrial Average dropped 14 points to 11,632.00 and S&P 500 futures fell 2.10 points to 1,268.10. Nasdaq 100 futures dropped 3 points at 2,273.25.
US stock markets were lower yesterday, with the Dow Jones Industrial Average down about 26 points.
The December nonfarm payrolls figures and the latest reading on U.S. unemployment are due for release today. The payrolls data is scheduled at 8:30 a.m. ET. Economists project that 175,000 nonfarm jobs were created in December.
Saba Software Inc (NASDAQ: SABA) reported its Q2 non-GAAP profit of $0.02 per share, down from analysts' estimates of $0.07 per share. The company's revenue came in at $28.6 million, versus analysts' estimates of $29.1 million. Saba projected its FY non-GAAP profit of $0.10 to $0.15 per share, down from Wall Street's view of $0.30 per share. SABA's Board of Directors also authorized an increase of $5.0 million in its share buyback program.
Analysts expect KB Home (NYSE: KBH) to report a Q4 loss of $0.17 per share.
Liz Claiborne (NYSE: LIZ) lowered its projections for the fourth quarter and second half of 2010. The company now projects its Q4 adjusted operating loss to improve by about $10 million, down from its earlier forecast. The company's adjusted operating loss in the year-ago quarter was $15 million. For the second half of 2010, the company now projects its adjusted operating income between $40 million and $50 million, versus its earlier projections of $80 million.
Analysts at Citigroup downgraded Philip Morris International Inc (NYSE: PM) to “hold” from “buy.”
Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.20%, London's FTSE 100 Index moved down 0.58%.
Asian markets ended mixed, with Japan's Nikkei Stock Average adding 0.11%, Australia's S&P/ASX 200 moving down 0.39% and China's Shanghai Composite gaining 0.52%.
The dollar gained about 0.2% against the Japanese yen, while the euro rose around 0.1% against the dollar.
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