Investing.com – U.S. stock futures pointed to a lower open on Tuesday, as investors digested a slew of mixed corporate earnings results and as shares in pharmaceutical giant Pfizer slumped ahead of the open.
Dow Jones Industrial Average futures pointed a drop of 0.3%, the S&P 500 futures fell 0.38%, while Nasdaq 100 futures indicated a decline of 0.28%.
Shares in the world’s largest drugmaker Pfizer slumped 1.8% in pre-market trade after its first quarter revenue came in slightly under market expectations.
The company said revenue in the quarter fell 0.6% to USD16.5 billion, while analysts expected revenue of USD16.6 billion. Pfizer said it planned to complete an evaluation of its business portfolio by the end of the current year.
The largest U.S. natural gas producer Chesapeake Energy saw shares drop 3.7% after reporting that it swung to a first quarter net loss of USD205 million, after losing USD725 million on energy-hedging contracts.
Molson Coors Brewing saw shares plunge 9.3% after the beer maker said first quarter net income tumbled 20% from a year earlier to USD82.9 million.
Meanwhile, shares in the commodity sector declined as a broadly stronger U.S. dollar weighed on metal and oil prices. U.S. listed shares of the world’s largest mining group BHP Billiton fell 1.5%, Freeport McMoran Copper & Gold dipped 0.8%, while shares in oil major Exxon-Mobil slipped 0.7%.
On the upside, cosmetics seller Avon Products saw shares add 3.1% after it said first quarter profit more than tripled to USD143.6 million, on higher selling prices and growth in Latin America.
The fifth largest U.S. wireless carrier MetroPCS Communications saw shares surge 6.3% after it reported first quarter net profit more than doubled. Revenue in the quarter jumped 23% to USD1.19 billion, as the company added 725,000 subscribers in the quarter.
Shares in U.S. automakers General Motors and Ford could be active as they report monthly sales figures throughout the day.
Other stocks in focus included the largest U.S. cable company Comcast, media giant CBS and pharmaceutical firm Cephalon, which were all expected to release earnings results later in the day.
Across the Atlantic, European stock markets declined as automakers and miners led losses. The EURO STOXX 50 shed 0.55%, France’s CAC 40 slipped 0.6%, Germany's DAX fell 0.75%, while Britain's FTSE 100 edged 0.2% lower.
During the Asian trading session, Hong Kong’s Hang Seng Index closed 0.4% lower, while Japan’s Nikkei 225 Index was closed for a public holiday.
Later in the day, the U.S. was to release government data on factory orders.
Dow Jones Industrial Average futures pointed a drop of 0.3%, the S&P 500 futures fell 0.38%, while Nasdaq 100 futures indicated a decline of 0.28%.
Shares in the world’s largest drugmaker Pfizer slumped 1.8% in pre-market trade after its first quarter revenue came in slightly under market expectations.
The company said revenue in the quarter fell 0.6% to USD16.5 billion, while analysts expected revenue of USD16.6 billion. Pfizer said it planned to complete an evaluation of its business portfolio by the end of the current year.
The largest U.S. natural gas producer Chesapeake Energy saw shares drop 3.7% after reporting that it swung to a first quarter net loss of USD205 million, after losing USD725 million on energy-hedging contracts.
Molson Coors Brewing saw shares plunge 9.3% after the beer maker said first quarter net income tumbled 20% from a year earlier to USD82.9 million.
Meanwhile, shares in the commodity sector declined as a broadly stronger U.S. dollar weighed on metal and oil prices. U.S. listed shares of the world’s largest mining group BHP Billiton fell 1.5%, Freeport McMoran Copper & Gold dipped 0.8%, while shares in oil major Exxon-Mobil slipped 0.7%.
On the upside, cosmetics seller Avon Products saw shares add 3.1% after it said first quarter profit more than tripled to USD143.6 million, on higher selling prices and growth in Latin America.
The fifth largest U.S. wireless carrier MetroPCS Communications saw shares surge 6.3% after it reported first quarter net profit more than doubled. Revenue in the quarter jumped 23% to USD1.19 billion, as the company added 725,000 subscribers in the quarter.
Shares in U.S. automakers General Motors and Ford could be active as they report monthly sales figures throughout the day.
Other stocks in focus included the largest U.S. cable company Comcast, media giant CBS and pharmaceutical firm Cephalon, which were all expected to release earnings results later in the day.
Across the Atlantic, European stock markets declined as automakers and miners led losses. The EURO STOXX 50 shed 0.55%, France’s CAC 40 slipped 0.6%, Germany's DAX fell 0.75%, while Britain's FTSE 100 edged 0.2% lower.
During the Asian trading session, Hong Kong’s Hang Seng Index closed 0.4% lower, while Japan’s Nikkei 225 Index was closed for a public holiday.
Later in the day, the U.S. was to release government data on factory orders.