U.S. stock futures pointed to a higher open today on Wall Street. Investors seem to have put up blinders to some bad mojo affecting markets in Europe and Asia to focus on earnings. The Bureau of Labor Statistics reported that the Consumer Price Index decreased 0.2 percent in March, led by a 4.4 percent decline in the gasoline index.
Futures at 8:45 a.m.: DJIA: +0.91%, S&P 500: +0.90%, NASDAQ: +0.94%.
Here’s what’s buzzing on Tuesday morning:
Target Corp. (NYSE:TGT) stock declined as much as 1.5 percent in pre-market trading on Tuesday after updating its first-quarter sales and first-quarter and full-year 2013 earnings guidance. According to a statement: “The company now expects its first quarter 2013 comparable-store sales growth will be approximately flat, due to softer-than-expected sales trends particularly in seasonal and weather-sensitive categories across the store. As a result, Target expects its first quarter adjusted EPS will be slightly below the low end of the prior guidance of $1.10 to $1.20.”
The Coca-Cola Company (NYSE:KO) stock climbed as much as 3.6 percent in pre-market trading after reporting first-quarter 2013 financial results. Highlights include 4 percent volume growth (3 percent in the Americas and 5 percent Internationally), a 1 percent decline in net revenues (or an increase of 2 percent, excluding the impact of currency and structural changes), and a 13 percent decline in reported earnings per share to $0.39.
The Goldman Sachs Group (NYSE:GS) stock climbed about 0.6 percent in pre-market trading after reporting first-quarter financial results. The firm reported net revenues of $10.09 billion, which beat out estimates for $9.64 billion, and diluted earnings per common share of $4.29, a 9.4 percent increase over last year and ahead of estimates for $3.88 per share.
Johnson & Johnson (NYSE:JNJ) climbed as much as 1.5 percent in pre-market trading after reporting first-quarter financial results. On the year, sales increased 8.5 percent to $17.5 billion, while earnings climbed 5.1 percent to $1.44 per share. Domestic sales increased 11.2 percent while international sales climbed 6.3 percent.
Dell (NASDAQ:DELL) announced on Tuesday that, based on the recommendation of the Board’s Special Committee, it has approved an agreement with activist investor Carl Icahn. The agreement states that Icahn and his affiliates can not purchase more than 10 percent of Dell’s stock, or enter into agreements with other shareholders that would allow Icahn to control more than 15 percent of shares.
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