S&P 500 futures fell 20.50 points to 1337.75, NASDAQ futures fell 53.00 points to 2560.25, and Dow Jones Industrial Average futures fell 163.00 points to 12610.00.
Soybean futures gave back over 35 cents of last week’s parabolic gains and easing drought fears.
WTI crude futures dipped below the $90.00 level and were trading at 89.00, down $2.83 on the day. Gold futures followed other futures with a decline of $7.90 to trade at $1574.90.
Hasbro Inc. (HAS) was yet another stock that posted weak earnings, yet managed to rise due to beating estimates. HAS rose over 4%.
Peet’s Coffee & Tea Inc. (PEET), a Seattle favorite and alternative to Starbucks, rose over 29% after John A. Benckiser agreed to buy the company for $1 billion or $73.50 a share.
McDonald’s Corp. (MCD) fell over 2.5% after reporting a drop in profit. MCD blames the strong USD for the drop in profit.
PetMed Express Inc. (PETS) fell almost 13% after announcing weak profit and revenue.
Sprint Nextel (S) lost over 4.5% this morning as signs of the telecommunications industry weakening became more evident.
Halliburton Co. dipped around 2% this morning and then rose to a positive 1.56% after releasing positive earnings. They had a profit of $737 million and 79 cents a share, up from $627 million last year with 68 cents a share. Revenue gained to $7.23 billion from $5.94 billion a year ago.
Apple (AAPL) declined 1.22% in preparation for tomorrow’s earnings release scheduled for after the close.
David Cornes holds a degree in economics from the University of Montana.