Before the bell: Futures higher ahead of data, FedReporting today are the agrichemicals firm Monsanto (NYSE: MON) -- AP Preview, and after the close, software giant Oracle (NASDAQ: ORCL) and Nike (NYSE: NKE).
Reported Tuesday:
- Jabil Circuit (NYSE: JBL) shares are up nearly 11% in premarket trading after the company reported its profit soared as revenue grew and costs declined, topping third-quarter earnings estimates. Merrill Lynch upgraded Jabil from Neutral to Buy.
- Red Lobster operator Darden Restaurants (NYSE: DRI) shares are up 1.9% in premarket trading after it also topped quarterly earnings estimates, postinga higher quarterly profit, boosted by the Olive Garden chain, and lower costs that helped raise operating profit at its Red Lobster chain.
- 3COM (NASDAQ: COMS) shares also rose over 6% in after-hours trading after it posted higher than expected revenue.
Meanwhile Pier 1 Imports (NYSE: PIR) shares were also nearly 5% higher in after-hours trading Tuesday after the retailer said it abandoned plans to take over rival home furnishings retailer Cost Plus (NASDAQ: CPWM) for $88 million.
It's no wonder that after Apple Inc. (NASDAQ: AAPL)'s iPhone success in the consumer market and its own attempt to enter the business segment of customers, that Research in Motion (NASDAQ: RIMM) would do the reverse and try to enter the consumer segment. But WSJ's Heard on the Street writer thinks there are many issues to be worried about, not in the least is competition from the iPhone.
Boeing Co. (NYSE: BA) was downgraded by Goldman Sachs from Neutral to Sell and the price target cut from $88 to $60. The analyst said the weak economy and spiking fuel costs will affect Boeing and added it to the Conviction Sell list. Boeing shares are down over 3% in premarket trading.
It has been a few days since we've heard of more layoffs at automakers, hasn't it? Well, Ford Motor Co. (NYSE: F)'s Volvo said Wednesday it had given layoff notices to 1,200 workers in Sweden following a $151 million first-quarter loss on declining U.S. sales.
Tesla Roadster sets a record -- travels 313 miles on a single charge
Cramer on BloggingStocks: China's industrial focus helps lots of U.S. names 
Why do we have a weak dollar?
