A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures fell today after results of IBM IBM and Texas Instruments TXN fell short of expectations. While futures on the Down Jones industrial average fell 70 points to 9990, those on the S&P 500 lost 8.3 points to 1055.5. Meanwhile, Nasdaq 100 futures slipped 14.75 points to 1790.75. A Peek Into Global Markets Negative sentiments ruled the European markets, as Vodafone Group (VOD) and autos weigh on the market. While STOXX Europe 600 Index lost 0.67%, London’s FTSE 100 Index moved down 0.75%. Most Asian markets ended in the positive territory, with Australia's S&P/ASX 200 moving up 1.05% and China's Shanghai Composite gaining 2.16%. Meanwhile, Japan's Nikkei Stock Average lost 1.15%. Broker Recommendation Select Comfort SCSS will announce earnings on Wednesday, June 21st. Piper Jaffray expects solid earnings, but trimmed estimates to guidance. Piper analyst Anthony Gikas lowered his June quarter sales estimate to $134 million from $139 million. EPS was reduced to $0.06 from $0.11. The analysts also reduced CY10 revenue estimate from $607M to $595M, and EPS from $0.53 to $0.48. Select Comfort is rated Neutral with a price target of $9.00. Breaking news

• The Goldman Sachs Group, Inc. GS announced on Tuesday morning that it easily beat consensus Wall Street earnings estimates, while missing revenue estimates. GS reported that its 2nd quarter earnings plummeted 83% to $453 million, or 78 cents per share, down from $2.7 billion, or $4.93 per share, a year earlier. To read the full news, click here.
• Harris Corporation HRS has been selected to provide the ground antenna system for a National Oceanic and Atmospheric Administration (NOAA) program that will enable receipt and processing of weather data 40 times faster than today. To read the full news, click here.
• Boeing BA and Dublin, Ireland-based leasing company Avolon today announced an order for 12 Boeing Next-Generation 737-800 jetliners. To read the full news, click here.
• UAL Corp UAUA reported Q2 earnings of $1.95, versus the consensus of $1.74. Sales were $5.16 billion, versus the consensus of $5.11 billion. To read the full news, click here.

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