Stock Futures Slip on Greek Default Fears
In Europe, London's FTSE was ticking up 0.2% and the DAX in Germany was off 0.1%. The Hang Seng Index in Hong Kong finished down 0.3%. Japan's Nikkei average rose 0.7%.
A Financial Times report said Spain was planning a state bailout of Bankia. The report said the move would likely involve the injection of billions of euros of public money into the troubled lender.
The benchmark 10-year Treasury was rising 8/32, diluting the yield to 1.852%. The dollar was up 0.1%, according to the dollar index.
In commodity markets, the June crude oil contract was off 56 cents at $97.38 a barrel. June gold futures were falling $11.20 to $1,627.90 an ounce.
In corporate news, Wendy's(WEN) reported first-quarter earnings Tuesday of $12.3 million, or 3 cents a share, a turnaround from a year-earlier loss of $1.4 million. Excluding items, earnings in the latest quarter were 1 cent a share. The fast food chain's first-quarter sales were $519.9 million, up from $509.3 million a year earlier.
Analysts, on average, expected first-quarter profit of 3 cents a share on sales of $608 million.
Wendy's lowered its 2012 outlook for adjusted earnings before interest, taxes, depreciation and amortization to a range of between $320 million and $335 million. Previously, the company anticipated adjusted EBITDA of between $335 million and $345 million. Wendy's cited weaker-than-expected sales and margins.
Walt Disney(DIS) is expected by analysts Tuesday to post fiscal second-quarter earnings of 55 cents a share on revenue of $9.56 billion.
Rackspace Hosting(RAX) , the cloud hosting company, reported first-quarter earnings of $23.2 million, or 17 cents a share, up from year-earlier earnings of $13.8 million, or 10 cents a share. Analysts, on average, expected earnings of 18 cents a share. Rackspace said currency rates hurt the company's first-quarter revenue by $2 million.
McDonald's(MCD) said Tuesday that global same-store sales in April rose 3.3%. Last month, the fast food chain said it expected sales to rise about 4%.