U.S. Futures As of 8:30 AM EST
S&P 500: -0.90; 1,432.30
NASDAQ 100: -3.25; 1,802.75
Dow: -18.00; 12,585.00
NIKKEI 225: -0.35%; 17,310.44 (-60.49)
HANG SENG: +0.25%; 20,327.72 (+50.21)
S&P/ASX 200: +0.01%; 5,673.10 (+0.70)
BSE SENSEX 30: -0.25%; 14,182.71 (-35.04)
FTSE 100: -0.31%; 6,191.00 (-19.30)
CAC 40: -0.01%; 5,554.62 (-0.42)
XETRA-DAX: -0.28%; 6,671.12 (-18.50)
Commodity Futures (Reuters/Jefferies CRB)
Oil: +0.26%; $50.61 (+$0.13)
Gold: +0.21%; $629.40 (+$1.30)
Natural Gas: +2.17%; $6.46 (+$0.14)
Silver: +0.79%; $12.785 (+$0.10)
U.S. Headlines — see today's Wall Street Breakfast for earlier news
• Citigroup Profit Increases 3.2 Percent as Investment-Bank Earnings Decline Citigroup Inc. (NYSE:C) said fourth-quarter profit rose 3.2 percent, the slowest growth among the biggest U.S. financial-service companies, as earnings from investment banking declined.
• General Electric Profit Climbs 12 Percent on Turbines, Turnaround at NBC General Electric Co. (NYSE:GE), the world's second-largest company by market value, said fourth-quarter earnings rose 12 percent on commercial loans, sales of equipment for power plants and a rebound in the NBC Universal media unit.
• Motorola Net Slumps 48 Percent on Handset Price Cuts to Compete With Nokia Motorola Inc. (MOT), the world's second- largest mobile-phone maker, said fourth-quarter profit slid 48 percent as the company slashed prices to compete with Nokia Oyj (NYSE:NOK) and Samsung Electronics Co.
• Morgan Stanley Real Estate to Buy CNL Hotels & Resorts for $6.6 Billion Morgan Stanley (NYSE:MS), the biggest real estate investor among Wall Street firms, agreed to buy eight U.S. luxury resorts in a $6.6 billion breakup of CNL Hotels & Resorts Inc. that's the largest hotel group sale since at least 2001.
• Schlumberger Profit Soars 71 Percent on Exploration Spending by Oil Firms Schlumberger Ltd. (NYSE:SLB), the world's largest oilfield-services provider, said fourth-quarter profit soared 71 percent, exceeding analyst estimates, as oil and gas producers increased exploration spending.
Asian Headlines (via Bloomberg.com)
• Toyota Recalls 533,000 Tundra Trucks, Sequoia SUVs to Repair Steering Flaw Toyota Motor Corp. (NYSE:TM), the world's second-largest carmaker, recalled half a million pickup trucks and sport-utility vehicles in the U.S., diminishing a reputation for quality that has helped it win record market share.
• Asian Stocks Drop, Led by Samsung Electronics, Tokyo Electron on IBM Sales Asian stocks fell, paring their first weekly gain this year, as Samsung Electronics Co. and Tokyo Electron Ltd. paced a retreat in technology shares.
• Satyam Computer's Third-Quarter Profit Declines 22 Percent to $76 Million Satyam Computer Services Ltd. (SAY), India's fourth-largest software services exporter, said third- quarter profit fell 22 percent from a year earlier, when the company had a one-time gain from selling a stake in Sify Ltd.
• Tata Steel Shares Fall on Report Company May Offer $11 Billion for Corus Shares of India's Tata Steel Ltd. fell after the Economic Times said the company may pay as much as 600 pence a share for Corus Group Plc (NYSE:CGA), 20 percent more than its earlier offer, countering Cia Siderurgica Nacional SA.
• McDonald's Aims to Build About 50 China Drive-Through Outlets to Catch KFC McDonald's Corp. (NYSE:MCD) said half of its 100 new restaurants in China in 2007 will be drive-through outlets, in a move to catch up with Yum! Brands Inc's KFC unit in selling fast food to the world's fastest-growing vehicle market.
European Headlines (via Bloomberg.com)
• U.K. December Retail Sales Increase 1.1 Percent, Biggest Gain in 18 Months U.K. retail sales rose the most in 18 months in December as faster economic growth spurred shoppers to increase spending on electrical goods such as flat-screen televisions over the Christmas period.
• European Stocks Fall for Fourth Day, Led by SAP; HBOS, Lloyds Shares Drop European stocks fell for a fourth day after sales at International Business Machines Corp. (NYSE:IBM) trailed analysts' estimates, fueling concern about a slowdown in the global technology industry. SAP AG (NYSE:SAP) and Business Objects SA (BOBJ) slid.
• Vinci Shares Surge After Francois Pinault Acquires $1.3 Billion Stake Shares of Vinci SA, the world's biggest construction company, rose to a record after activist investor Francois Pinault bought a 1 billion-euro ($1.3 billion) stake, prompting speculation he may seek a takeover.
• EU Predicts `Strong' Economic Growth as Oil Drops, Euro Rises, Draft Shows The European Commission expects Europe's economy to ``remain strong'' in coming months and inflationary pressures to be eased by low oil prices and the strong euro, a confidential draft document shows.
• ThyssenKrupp Pretax More Than Doubles to More-Than-Expected $1.3 Billion ThyssenKrupp AG, Germany's largest steelmaker, said fiscal first-quarter pretax profit more than doubled, beating expectations, after demand for the company's stainless products buoyed sales.