US Stock Futures Tumble; Citigroup Earnings In Focus - Citigroup (NYSE:C), Adobe (NASDAQ:ADBE)

Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of earnings from

Citigroup Inc. C

. Data on weekly jobless claims, the producer price index for December and the Empire State manufacturing index for January will be released at 8:30 a.m. ET. The general conditions index of the Philadelphia Fed's Survey for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 99 points to 17,266.00, while the Standard & Poor's 500 index futures fell 14.10 points to 1,993.10. Futures for the Nasdaq 100 index dropped 27.75 points to 4,117.75.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index falling 0.12%, STOXX Europe 600 Index rising 0.74% and German DAX 30 index gaining 0.34%. French CAC 40 Index slipped 0.04% and London's FTSE 100 Index fell 0.25%. Eurozone trade surplus widened to EUR20 billion ($23.6 billion) in November, versus EUR16.5 billion in the year-ago month. In Asian markets, Japan's Nikkei Stock Average rose 1.86%, Hong Kong's Hang Seng Index climbed 0.99%, China's Shanghai Composite Index jumped 3.54% and India's Sensex jumped 2.66%.

Broker Recommendation

Analysts at Evercore ISI upgraded

Groupon, Inc. GRPN

from Sell to Hold. The price target for Groupon has been raised from $6.50 to $8. Groupon's shares closed at $7.37 yesterday.

Breaking news

Shares of Lennar Corp. LEN surged more than 1.5% in pre-market trading after the company reported better-than-expected earnings for the fourth quarter. To read the full news, click here.
The Eastern Company EML rejected a $19.23 per share cash and stock bid Wednesday from Synalloy Corporation SYNL. To read the full news, click here.
Southwestern Energy Company SWN priced its previously announced concurrent underwritten public offerings of 26,086,957 shares of its common stock at a price of $23.00 per share and 30,000,000 depositary shares, each of which represents a 1/20th interest in a share of Southwestern Energy's 6.25% Series B Mandatory Convertible Preferred Stock, with a liquidation preference of $1,000 per share, at a price of $50 per depositary share on January 14, 2015. To read the full news, click here.
On Wednesday, Adobe Systems Incorporated ADBE announced a new stock repurchase program granting the company the authority to repurchase up to $2.0 billion in common stock through the end of fiscal 2017. To read the full news, click here.

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