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Stock Futures Slide as Traders Eye Earnings


The general business conditions index from the New York Federal Reserve's Empire State Manufacturing Survey was little changed at negative 7.8 for January, compared with December's negative 8.10. A flat read was expected.

At 10 a.m. EST, the Census Bureau is forecast to say that total business inventories increased 0.3% in November after rising 0.4% in October.

Overseas markets were mostly lower ahead of the earnings deluge. The FTSE 100 in London was down 0.13%, while the DAX in Germany was down 1.11%. Hong Kong's Hang Seng closed down 0.14%.

The Nikkei in Japan finished up 0.72% after the Japanese market resumed trading after a public holiday.

Gold for February delivery was surging $10.50 to $1,679.90 an ounce at the Comex division of the New York Mercantile Exchange, while February crude oil futures were down 52 cents at $93.62 a barrel.

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The benchmark 10-year Treasury was up 8/32, diluting the yield to 1.823%. The dollar was up 0.19%, according to the U.S. dollar index.

Dell(DELL) , the No. 3 PC maker but once the world's largest, is in buyout talks with private-equity firms , according to Bloomberg, which cited two people with knowledge of the matter.

Shares were gaining 4%.

Homebuilder Lennar(LEN) posted fourth-quarter earnings of 56 cents a share on revenue of $1.35 billion, exceeding the average analyst estimate of 44 cents a share on revenue of $1.31 billion as the housing industry continues to recover.

Shares were rising 0.76%.

Facebook(FB) is holding a major press event at its headquarters Tuesday and there is plenty of speculation about what the social networker will announce.

Shares were up 0.85%.

JPMorgan Chase (JPM) was ordered to take steps to correct poor risk management in connection with the multi-billion dollar trading loss it suffered last year.

Shares were down 0.83%.

Lululemon Athletica (LULU) raised its fiscal fourth-quarter earnings guidance but said revenue growth would slow.

Shares were tumbling 7.5%.

RadioShack(RSH) said Monday that it was ending an agreement with Target(TGT) to run mobile phone centers in its stores.

RadioShack said it has been renegotiating the terms of the deal with Target since October to make it profitable for both companies, but an agreement couldn't be reached and it will end the contract in April.

RadioShack shares were tacking on more than 4%.

Forest Laboratories (FRX) shares were sliding more than 5% after the drug company reported a wider-than-expected quarterly loss and worse-than-expected revenue as it feels the pain of the Lexapro patent expiration.

Express(EXPR) shares were soaring by more than 15.5% after the specialty apparel and accessory retailer hiked its fourth-quarter profit outlook amid better-than-expected holiday sales.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse .