Market Overview

US Stock Futures Slightly Down; Liberty Media Offers To Buy Barnes & Noble


US stock futures are slightly lower this morning. Liberty Media Corp (NASDAQ: LCAPA) offered to purchase Barnes & Noble Inc (NYSE: BKS) for $17 per share. Futures on the Dow Jones Industrial Average dipped 16 points to 12,575.00 and futures on the S&P 500 stock index fell 0.70 point to 1,341.00. Nasdaq 100 futures dropped 1 point to 2,368.00.

US stocks closed higher on Thursday, with the Dow Jones industrial average gaining 0.36% to 12,605.32, the broader Standard & Poor's 500 index rising 0.22% to 1,343.60 and the NASDAQ composite index surging 0.30% to 2,823.31.

Shares of Barnes & Noble Inc surged about 24.7% in pre-market trading after Liberty Media Corp offered to purchase Barnes & Noble for $17 per share, or $1 billion.

AnnTaylor Stores Corp (NYSE: ANN) is projected to report its Q1 earnings at $0.48 per share on revenue of $512.11 million. Donaldson Company Inc (NYSE: DCI) is projected to report its FQ3 EPS at $0.72 on revenue of $581.41 million. Hibbett Sports Inc (NASDAQ: HIBB) is expected to report its Q1 EPS at $0.67 on revenue of $201.04 million.

Gap Inc (NYSE: GPS) reported a 23% decline in its first-quarter profit. The company's net income fell to $233 million, or $0.40 per share, from $302 million, or $0.45 per share, in the year-ago period. Its sales declined 1% to $3.3 billion. However, analysts were expecting a profit of $0.39 per share on sales of $3.3 billion. Gap lowered its full-year profit projections to a range of $1.40 to $1.50 per share, from its earlier forecast of $1.88 to $1.93 per share. However, analysts expected full-year earnings of $1.84 per share.

Safeway Inc (NYSE: SWY) reported that its Board of Directors lifted the company's regular quarterly dividend by 21% from $0.12 per share to $0.145 per share. Inc (NYSE: CRM) reported its FQ1 net income at $530,000, or break-even on a per-share basis, versus $17.7 million, or $0.13 per share, in the year-ago period. Its revenue surged 34% to $504.4 million. On an adjusted basis, earnings dropped 7% to $0.28 per share. However, analysts were expecting earnings of $0.27 per share on revenue of $482.6 million. The company also issued an upbeat forecast for its current quarter and full year.

Asian markets ended mixed, with Japan's Nikkei Stock Average dropping 0.14%, Australia's S&P/ASX 200 moving down 0.42% and China's Shanghai Composite declining 0.04%. Hong Kong's Hang Seng Index rose 0.16% and India's Sensex gained 0.99%.

European markets were higher today. The STOXX Europe 600 Index has gained 0.49%, London's FTSE 100 Index moved up 0.66%.

Oil futures gained, with the Nymex crude-oil futures rising $0.68 at $99.61 a barrel in electronic trade.

Against the yesterday, the dollar dropped 0.2% fall to ¥81.56. However, the greenback fell 0.1% to trade at $1.4293 against the euro.

Read more from Benzinga's Markets.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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