US Stock Futures Flat As Investors Await Economic Data, ECB Meeting; Bed Bath & Beyond Shares Rise In Pre-Market Trading

US stock futures are flat this morning, as investors are awaiting economic data and the European Central Bank (ECB) interest-rate meeting. Several retailers are also scheduled to report same-store sales. Futures for the Dow Jones Industrial Average lost 2 points to 12,355.00, while those for the S&P 500 index fell 0.10 point to 1,328.80. Futures for the Nasdaq 100 index lost 0.75 point to 2,324.75. On Wednesday, the Dow Jones Industrial Average rose 0.27% to 12,427, the S&P 500 index gained 0.22% to 1,336 and the Nasdaq 100 index surged 0.31% to 2,800. Data on weekly jobless claims will be released at 8:30 a.m. ET. Consumer-credit data for February will be released at 3 p.m. ET. The ECB is scheduled to announce the rate decision at 7:45 a.m. ET. Costco Wholesale Corp COST reported a 13% increase in its March same-store sales. However, analysts were expecting 7.4% rise in March same-store sales. Pier 1 Imports Inc PIR reported its Q4 EPS at $0.48, versus the consensus of $0.47. PIR reported its Q4 revenue at $426.6 million, versus the consensus of $425.59 million. Constellation Brands Inc STZ is projected to post its Q4 earnings at $0.26 per share on revenue of $731.54 million. Rite Aid Corporation RAD is estimated to post a Q4 loss at $0.24 per share on revenue of $6.38 billion. Shares of Bed Bath & Beyond Inc BBBY surged about 9.4% in pre-market trading as the company reported its Q4 earnings at $283.5 million, or $1.12 per share, up from $226 million, or $0.86 per share, in the year-ago period. The company's sales increased around 12% to $2.50 billion. Sales at stores open at least a year, rose 8.5%. However, analysts were expecting earnings of $0.97 per share on revenue of $2.39 billion. BBBY projects Q1 earnings of $0.58 to $0.61 per share, versus analysts' estimates of $0.59 per share. ImmuCor Inc BLUD reported its FQ3 earnings at $22.7 million, or $0.32 per share, up from $20.1 million, or $0.28 per share, in the year-ago period. The company's sales increased 4% to $83.3 million. However, analysts were estimating earnings of $0.27 per share on revenue of $81.8 million. BLUD now projects FY11 profit of $1.18 to $1.20 per share on revenue of $328 million to $330 million, up from its earlier guidance of $1.08 to $1.18 per share on revenue of $320 million to $332 million. However, analysts projected earnings of $1.14 per share on revenue of $326.9 million in fiscal 2011. European markets were mixed today. While STOXX Europe 600 Index has gained 0.30%, London's FTSE 100 Index moved down 0.03%. Asian markets ended mixed, with Japan's Nikkei Stock Average gaining 0.07%, Australia's S&P/ASX 200 moving down 0.12% and China's Shanghai Composite gaining 0.22%. Hong Kong's Hang Seng Index fell 0.01% and India's Sensex dropped 0.11%. Nymex crude for May delivery rose $0.25 to $108.59 a barrel in electronic trading. The euro gained 0.5% to $1.4297 against the US dollar ahead of the European Central Bank (ECB) meeting. Read more from Benzinga's Markets.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsFuturesGlobalPre-Market OutlookIntraday UpdateMarketsConsumer DiscretionaryConsumer StaplesDistillers & VintnersDrug RetailHealth CareHealth Care SuppliesHomefurnishing RetailHypermarkets & Super CentersUS Stock Futures
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!