Dow Higher Ahead of Payrolls, While Pandora Is Set to Soar

LONDON -- Stock index futures at 7 a.m. EST indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open 0.67% higher this morning, while the S&P 500 (SNPINDEX: ^GSPC  ) may open 0.34% higher.

After yesterday's figures showed lower-than-expected jobless claims last week, all eyes will be on today's key nonfarm payrolls and unemployment reports, due at 8:30 a.m. EST. Consensus forecasts suggest that nonfarm payrolls rose by 160,000 in February, up slightly from 157,000 in January -- but not enough to make any dent on the unemployment rate, which is expected to remain unchanged at 7.9%.

Earnings from Foot Locker, Ann, and Genesco are expected before markets open this morning. Analysts are forecasting fourth-quarter earnings of $0.72 per share for Foot Locker, while Genesco, which makes shoes, is expected to report fourth-quarter earnings of $2.12 per share.

Pandora (NYSE: P  ) stock is likely to be actively traded this morning. The Internet radio company's share price rose by 21.8% in after-hours trading last night when the company announced that CEO Joseph Kennedy, is standing down. Pandora said fourth-quarter revenue rose by 54% to $125.1 million, beating expectations, although it still reported a loss for the quarter of $0.04 per share due to rising licensing and sales costs. Analysts expect that Pandora's new CEO will be heavily focused on advertising sales, which are seen as a key source of additional revenue for Pandora.

European markets
Markets edged higher in Europe this morning, helped by news that Chinese exports rose by 21.8% in February, beating expectations for a 10% increase. However, in Europe, German industrial output missed expectations for 0.5% growth and remained flat in January, while in the U.K., construction-sector output fell by 6.3% in January, raising fears that the economy might fall back into a third recession.

At 7:10 a.m. EST, the DAX was up 0.65%, the CAC 40 was up 0.91%, the FTSE MIB was up 1.29%, and the IBEX 35 was up 1.64%. In London, the FTSE 100 (FTSEINDICES: ^FTSE  ) was up 0.39%, led by a 4.3% gain for coal, iron, and steel producer Evraz. Asset manager Schroders gained 1.6% after a number of brokers raised their target prices for the firm's stock.

If you're looking for shares that can outperform the wider market, you need to look beyond the news headlines. This free Motley Fool report, "The Top Growth Share For 2013," highlights a share that gained 38% in 2012, during which time the wider market rose just 6%. The company is a household name, and its earnings per share have risen by 44% since 2009 -- so click here now to download your free copy of this report while it is still available.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2301310, ~/Articles/ArticleHandler.aspx, 9/18/2014 3:44:07 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement