U.S. stock futures were higher Thursday as jobless claims and retail sales provided mixed signals about the economy by beating and missing expectations, respectively.
Weekly jobless claims in the week ended March 7 fell 36,000 to 289,000 compared to the expected 309,000 claims and also below the lower end of the consensus range compiled by Econoday between 292,000 and 320,000. Claims in the week ended Feb. 28 were revised upwards to 325,000 from 320,000.
Retail sales in February fell 0.6% compared to the expected 0.3% gain and a 0.8% drop in January. The consensus range was between a decline of 0.1% and a gain of 0.5%. Meanwhile, export prices in February fell 0.1% as expected while January export prices were revised to have declined 1.9% from initially reported a 2.0% decline. Import prices rose 0.4% in February compared to the 0.2% expected gain while January was revised to have declined 3.1% from the initially reported 2.8%
In equities, Acadia Pharmaceuticals ( ACAD ) dropped 21% in recent pre-market trade after delaying submission of the new drug application for its Parkinson’s disease psychosis treatment Nuplazid till the second half of 2015 instead of in Q1, as previously planned. Meanwhile, CEO Uli Hacksell resigned effective immediately. CFO Steve Davis was appointed interim CEO.
Lumber Liquidators ( LL ) meanwhile traded higher by 5.6% after trying to allay concerns about the safety of its products, according to a presentation that will be given at a call later Thursday. The retailer of hardwood flooring said it “stands by every single plank of wood and laminate we sell,” in response to a CBS 60 minutes report that claimed formaldehyde levels in its laminate flooring were unsafe. Lumber Liquidators also gave a Q1 guidance for sales that was well below analyst estimates.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.41%
-S&P 500 futures up 0.37%
-Nasdaq 100 futures up 0.20%
GLOBAL SENTIMENT
Nikkei up 1.43%
Hang Seng up 0.34%
Shanghai Composite up 1.93%
FTSE-100 up 0.94%
DAX-30 down 0.30%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(+) Chip stocks: unchanged to higher
(+) Software stocks: unchanged to higher
(+/-) Hardware stocks: mixed
(+) Internet stocks: higher
(+/-) Drug stocks: mixed
(+) Financial stocks: higher
(+/-) Retail stocks: unchanged
(+/-) Industrial stocks: mixed
(+/-) Airlines: unchanged to higher
(+) Autos: higher
UPSIDE MOVERS
(+) C (+3.6%) Fed doesn’t object to Capital plan; hikes dividend, plans $ 7.8 billion buyback
(+) AMRN (+16.0%) HC Wainwright upgrades to buy vs neutral
(+) DG (+2.5%) Q4 earnings meet views, sales shy
(+) BABA (+0.5%) Reportedly invests $ 200 million in Snapchat
(+) JASO (+7.1%) Q4 beats Street view
(+) LIVE (+8.8%) Forecasts higher profit margins
DOWNSIDE MOVERS
(-) INTC (-3.8%) Cuts Q1 revenue guidance
(-) CUR (-2.4%) Announces results from ALS treatment study
(-) CYBR (-6.4%) Prices secondary share sale
(-) INGN (-17.0%) Postpones release of Q4 due to accounting audit
(-) HPQ (-2.2%) Barclays downgrades to equalweightv vs. overweight; cut PT to $ 35
(-) BOX (-17.5%) Posts wider-than-expected Q4 net loss
(-) VRA (-1.0%) Telsey Advisory cuts price target
(-) TTPH (-1.0%) Prices 4.3 million share sale at $ 35 each
(-) QIWI (-8.1%) Q4 EPS misses views
(-) BVX (-16.7%) Prices 4.8-million-share-sale at 20% discount
(-) LOGI (-2.2%) JP Morgan downgrades to underweight vs neutral