U.S. Pre-Market Top Movers of the Day: Apple, Sprint
Investing.com
Published Aug 04, 2015 07:13AM ET
U.S. Pre-Market Top Movers of the Day
Investing.com - U.S. stock futures pointed to a modestly lower open on Tuesday, as investors continued to monitor key earnings reports while looking ahead to nonfarm payrolls data due later in the week.
During early morning hours in New York, the blue-chip Dow futures shed 39 points, or 0.23%, the S&P 500 futures dipped 5 points, or 0.27%, while the tech-heavy Nasdaq 100 futures declined 14 points, or 0.32%.
Investors looked ahead to the release of key data for further indications over the timing of a U.S. rate increase and the strength of the economy.
The U.S. is to release data on factory orders at 10:00AM ET. Market players are also focusing on Friday's nonfarm payrolls report. The ADP employment report, considered a precursor to the nonfarm data, is due on Wednesday.
Data on Monday showing that manufacturing activity weakened in July and consumer spending rose at its slowest pace in four months in June did little to alter expectations for a September rate hike.
Sprint Corp (NYSE:S) declined 1.5% ahead of the company's quarterly earnings report due ahead of Tuesday's opening bell. The telecom firm announced a new financial chief late Monday.
Coach Inc (NYSE:COH), CVS Health Corp (NYSE:CVS), Aetna (NYSE:AET), Office Depot Inc (NASDAQ:ODP), Time Inc (NYSE:TIME), Archer-Daniels-Midland Company (NYSE:ADM) and Kellogg Company (NYSE:K) are also due to report quarterly earnings ahead of Tuesday's opening bell.
After Tuesday’s close of trading, Walt Disney Company (NYSE:DIS), Activision Blizzard (NASDAQ:ATVI), Pioneer Natural Resources Company (NYSE:PXD), Dreamworks Animation SKG Inc (NASDAQ:DWA) and Zillow Group Inc (NASDAQ:Z) are scheduled to report.
Apple (NASDAQ:AAPL) was down 0.7% to $117.65 on heavy volume in pre-market trade, falling further below its 200-day moving average of $120.86. Apple is now down about 12% from its April high, entering correction territory.
U.S.-listed shares of National Bank of Greece SA (NYSE:NBG) slumped 13%, mirroring sharper losses in Athens.
Plug Power Inc (NASDAQ:PLUG) shares tumbled 7% after the company filed to offer 7.9 million shares for holders.
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Written By: Investing.com
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