Photo: AndrewEick via Flickr
U.S. stock futures are down this morning, after a rough night in Japan and continued uncertainty throughout the Middle East.The Nikkei closed today down after reports of abnormal levels of radioactive iodine in Tokyo drinking water. A number of Japanese companies including Toyota and Sony are still experiencing production shutdowns.
Bank of America shares are down in pre-market trading on news that the Fed has rejected its proposed dividend hike plan.
Investors are waiting for new home sales data to come out later this morning.
The impact of the earthquake is hitting more U.S.-based companies as Adobe lowered its second quarter forecast because of Japan and NRG Energy has delayed plans to build two new reactors in Texas.
General Mills started the day off strong, meeting earnings expectations.
In other earnings news:
- Jabil Circuit and Adobe beat earnings expectations
- Paychex is on tap for later
DIVIDEND HIKE REJECTED: The Feds have rejected Bank of America's plan for raising its dividend. Shares are down 2% in pre-market trading.
EARNINGS BEAT: Adobe beat expectations for its first quarter earnings, but the stock was down slightly in after-hours trading after lowering its forecast for the second quarter.
EARTHQUAKE IMPACT: Toyota will delay the launch of the Prius hybrid minivan in Japan because of a production disruption.
PRODUCE RECALL: Fresh Del Monte Produce said it was recalling 5,000 cartons of cantaloupes that may contain salmonella.
FUKUSHIMA IMPACT: NRG Energy is stalling its plans to build two new reactors at its South Texas plant. Shares were down slightly in after-hours trading.
EARNINGS BEAT: Shares of Jabil Circuit jumped 11% in after-hours trading after posting better-than-expected revenue for the second quarter of $3.93 billion.
ANALYST DOWNGRADE: Citi downgraded Brightpoint from buy to hold on uncertainty around the AT&T/T-Mobile merger.
FAILED DRUG STUDY: Xoma shares plunged 38% in after-hours trading after its new potential diabetes treatment failed to lower blood sugar in clinical trials.
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