Photo: Esrah Boulton via Flickr
U.S. stock futures are projecting a selloff today following the Nikkei’s deep plunge overnight as the ramifications of the earthquake becomes more apparent and the nuclear crisis continues to worsen with the explosion of a third reactor at the Fukushima Daiichi plant.General Electric, manufacturer of one of the reactors in the plant, was down close to 7% in the pre-market and uranium mining companies Denison Mines and Uranium Energy also continued to fall. Insurers were also dragging.
February import prices and the Empire State index for March will be released a little later this morning followed by the NAHB housing market index for March.
Here is a roundup of some of this morning’s other news:
- Williams-Sonoma beats expectations
- DSW missed expectations
- Hewlett-Packard raised its quarterly dividend
NUCLEAR CRISIS IMPACT: Shares in General Electric were down over 6% in pre market. GE designed the reactors at the Fukushima plant.
NUCLEAR CRISIS IMPACT: Hitachi is down around 15%. The company, along with GE, manufactures nuclear reactors for the Fukushima plant.
NUCLEAR CRISIS IMPACT: Texas Instruments is losing revenue from two of its semiconductor plants in Japan. Shares were down over 2% in after hours.
EARTHQUAKE IMPACT: Insurance stocks such as MetLife, Prudential and Aflac are seeing their share prices drop.
RAISED DIVIDEND: Hewlett-Packard raised its quarterly dividend by 50% for the first time in 13 years.
EARNINGS BEAT: Williams-Sonoma beat expectations with revenue of $1.2 billion. It raised its quarterly dividend by 13% to $0.17.
EARNINGS WATCH: Pacific Sunwear is expected to report a loss of $0.32 per share on revenues of $271.01 million.
EARNINGS DROP: DSW had an increase in profit for the fourth quarter but missed revenue expectations.
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