Before the bell: Stock futures rise as markets ready to recover

Apple Inc. (NASDAQ: AAPL) shares are up over 1.7% in premarket trading after the company officially announced yesterday it will be holding a "special event" on September 5, The Beat Goes On. Expectations are that Apple will introduce several new products. According to Theflyonthewall, Goldman Sachs said it expects a new family of iPods to be announced during the event, a week ahead of expectations. The new iPods will likely include greater functionality at current price points and Goldman believes this will create another opportunity for upside in the second half of 2008. Bloomberg also reports that the release of new models of the company's iPod media player is expected during the event. Piper Jaffray's Gene Munster said, "I would say 99 percent it's a new iPod."

Meanwhile, Nokia Corp. (NYSE: NOK) is up nearly 4% in premarket trading after the company announced launching new top-end phones a new online music store, and a global gaming service, directly competing with Apple.

In the auto industry, U.S. car makers continue their effort to expand overseas. Ford Motor Co. (NYSE: F) had signed an agreement with a Spanish union to invest €425 million ($578 million) in its vehicle manufacturing plant in Valencia, eastern Spain. General Motors Corp (NYSE: GM) and Japan's Isuzu Motors Ltd said they would work together more closely in South America.

While Kuwait is in talks with Boeing Co (NYSE: BA) and Airbus SAS about buying aircraft, Boeing announced yesterday it has been awarded a NASA contract valued at approximately $514.7 million to produce the upper stage of the Ares I crew launch vehicle. BA shares are up 0.95% in premarket trading (8:08 a.m.).

Novell Inc. (NASDAQ: NOVL) shares are up 1.5% in premarket trading (8:00 a.m.) as the company is expected to report third-quarter earnings of 2 cents a share.

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