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Before the bell: Stocks to start lower; PFE, JAVA, AXP, TXN, DD, CAT, AAPL, BA ...

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U.S. stock futures were lower Tuesday morning, indicating Wall Street is poised for a tough start after the Dow rallied 413 points Monday. Corporate earnings gave way to signs of a thaw in money markets and a possible second stimulus plan helped sentiment Monday. Today it will be all about earnings as several Dow industrials are due to report as well as other big names.

American Express Co. (NYSE: AXP) reported late Monday, saying its profit fell 24% in the third quarter due to less spending by cardholders and as more are having trouble paying off debt. Still, the drop was less than expected and AXP shares are up 4.7% in pre-market trading.

Pfizer Inc. (NYSE: PFE) shares are also trading higher in pre-market -- 2.3% higher -- after it reported results this morning. The world's biggest drugmaker's profit tripled because of higher sales of the pain pill Lyrica and lower costs from the 11,000 job Pfizer had cut last year. The results beat estimates.

Dupont deNemours & Co. (NYSE: DD) shares, however, are trading 1.9% lower in pre-market trading after the chemicals giant cut its 2008 earnings view after reporting third-quarter profit that beat analyst estimates.

Caterpillar Inc. (NYSE: CAT) and 3M Co. (NYSE: MMM) are two Dow components that have also just reported earnings.


Texas Instruments (NYSE: TXN) also gave a gloomy outlook Monday evening as well as missed estimates due to slowing mobile phone sales. TI announced job cuts. Its shares are down 6.3% in pre-market action.

Sun Microsystems Inc. (NASDAQ: JAVA) shares are plunging 12.8% in pre-market trade after the network server company forecast a bigger loss than analysts had anticipated.

Yahoo Inc. (NASDAQ: YHOO) and Apple (NASDAQ: AAPL) are scheduled to report results after the close. Yahoo has been reported Monday to announced drastic cost cutting measures during the earnings release, which may include job cuts. Analysts expect it to earn 9 cents per share. Apple needs to beat estimates and give an outlook investors are comfortable with in order to give its stock a boost. Analysts project Apple to post earnings of $1.11 per share for the quarter.

In non-earnings news,
Boeing Co. (NYSE: BA) may resume negotiations with the machinists union on Thursday. Boeing's machinists have been on strike for more than six weeks.

U.S. Steel (NYSE: X) was upgraded at Soleil from Hold to Buy.
Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 05, 2009: 03:28 PM

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