Stock futures are pointing modestly higher this morning as investors await a slate of data and digest GM’s earnings release. Europe still remains a concern, though two bond auctions in France and Spain went off without a major event. Yields rose in Spain, but the auction was heavily subscribed. Currently the Dow futures are up 13 points. The Nasdaq and S&P futures are also trading modestly higher, both up 4 and 2 points respectively.
Most market watchers are expecting a sideways day as investors gear up for the unemployment report tomorrow. Expectations are for job creations numbers to come in at 169k and the unemployment rate staying unchanged at 8.2%.
After the disappointing ADP numbers yesterday, the weekly jobless claims may give the market a boost after they declined 27k to 365k. At 10am EST, the ISM non-manufacturing purchasing index will be released.
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Commodities are trading nearly flat to slightly negative this morning. Nymex crude futures are down fractionally to $105.04 per barrel. Gold prices are off half a percent to $1,645.80.
Pre-Market Movers
KIT digital, Inc. (NASDAQ:KITD) is down 10.09% this morning at $5.70. KITD has traded 222 thousand shares so far today and trades 1.29 million shares a day on average. KITD shares have been halted this morning with pending news. The company has a market cap of 300.52 million.
Glu Mobile, Inc. (NASDAQ:GLUU) is up 5.42% in pre market trading at $4.86. GLUU has traded about 6 thousand shares so far today and trades 2.5 million shares a day on average. Glu Mobile saw its first quarter loss more than double as the company spends to expand. The results were better than expected though as the company lost $0.11 per share in the first quarter. Glu Mobile expects to break even by the fourth quarter. The company has a market cap of 295.23 million.
James River Coal Co. (NASDAQ:JRCC) is up 4.10% today at $4.82. JRCC has traded 17 thousand shares in pre market trading and trades 2.3 million shares a day on average. James River reported first quarter results earlier today. The company beat EPS estimates by $0.21 and beat on revenue. The company has a market cap of 160.69 million.
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Mitek Systems Inc. (NASDAQ:MITK) is down 45.33% in pre market trading at $3.16. MITK shares are plummeting on its second quarter results. Mitek Systems reported total revenue of $1.2 million for the second quarter compared to $2.9 million a year ago. It reported a loss of $0.11 per share compared to a net income of $0.02 per share a year prior. The company has a market cap of 142.66 million.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is up 2.69% today at $2.67. ARNA has traded 20 thousand shares in pre market and trades 10.1 million shares a day on average. ARNA shares will continue to see a lot of action ahead of its FDA decision date later this month. The company has a market cap of 469.10 million.
K-Swiss Inc. (NASDAQ:KSWS) is down 8.93% in pre market trading at $3.16. KSWS trades 192 thousand shares a day on average. K-Swiss reported first quarter results this morning and missed EPS estimates by $0.06, but beat on revenue. EPS came in at $0.19 (loss) and revenue was $69.3 million. The company has a market cap of 123.53 million.
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