Pre-market, futures are down with the set to open on a triple digit loss supposedly on European woes. Gainers this morning include LSI, DHI, XRX, WPI and GME while losers include K, WMT, HAS, MHP and FSLR.
All the talk this morning on CNBC is on Wal-Mart. No. 1 retailer Wal-Mart (WMT) was hit by allegations in the New York Times over the weekend that top executives in its Mexican division attempted to conceal a widespread bribery scheme from the company’s headquarters. Shares are down 4% in pre-market trading. The company says it is investigating.
This Monday morning Dow component Pfizer (PFE) reached agreement to sell its baby formula business to NestlÃ© (NSRGF) for $11.85 billion in cash.
AT&T (T) reports earnings tomorrow.
European stocks were sharply lower in morning trading and Asian markets ended lower.
Earnings reports (sorted by mkt cap): COP-ConocoPhillips (consensus $2.08), TXN-Texas Instruments (0.29), ETN-Eaton (0.90), CHKP-Check Point Software Technology (0.72), STI-SunTrust Banks (0.33), AMP-Ameriprise Financial (1.39), XRX-Xerox (0.22), ROP-Roper Industries (1.04), NFLX-Netflix (-0.17), ILMN-Illumina (0.32), WRB-WR Berkley (0.66), HAS-Hasbro (0.07), DHI-DR Horton (0.04), BEAV-BE Aerospace (0.62), ZION-Zions Bancorporation (0.27).
1130 ET Weekly 3-mo and 6-mo T-bill auctions.