Market Close for Thursday, February 10, 2011

After the close…

We have KFT down -1.3%, WYNN down -1.6% and EXPE down -6.6% following their earnings report and guidance.

Stocks opened down, hit by sellers who were focused on disappointing guidance from Cisco and Akamai Tech, rather than a better-than-expected initial jobless claims report. However, the major averages rallied when it became clear that buyers were still in control.

Futures are lower after hours with S&P 500 futures down -5.34 from fair value of 1319.24 and Nasdaq 100 futures down -9.01 points from fair value of 2363.01.

Seven of the ten sectors were in negative territory, led by energy (+0.9%), telecom (+0.5%) and industrial (+0.4%).

Tomorrow morning before the open we have one economic report scheduled to be released: Trade balance (Consensus -$40.4 billion).

Also tomorrow before the open, notable stocks expected to report earnings include BPO, BPL, CCE, DISCA, GLT, GLCH, MDC, SCG, TOT, TRAD, and WBC.

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