Futures Fall As Greek Deal in Jeopardy. Stocks to Watch: LNKD, BAC, NFLX, AMZN, NUAN, AAPL, EXEL

More Greek tension is on the menu today, after EU leaders refused to sign off on the new bailout until Greece approves austerity measures. Not sure what planet they live on, but if they install the new austerity measures get ready for the third bailout. Unless you are under the misguided notion that demolishing your workforce has some sort of magic power to increase government revenue. Like saying you think David Blaine is really levitating.

Futures are reacting negatively to the news with the Dow down 83 points to 12,759. Nasdaq 100 futures are right behind the Dow, off 19 points to 2,542. The S&P 500 is rounding out the pre-market declines, down 11 points to 1,337.

Yesterday Greek political leaders agreed to a draft proposal – read an idea in abstract, not an actual plan – to cut debt to 120% of GDP. This also included a 22% cut in minimum private wages. Predictably, unions in the country immediately called for a 48-hour general strike. Social unrest is also being threatened.

European markets have reacted negatively to the news, with the Stoxx 600 Index off nearly a percent in intraday trading. Asian markets also closed mostly lower.

Domestically, the University of Michigan consumer sentiment numbers are expected to be released at 9:55am EST. Also Fed Chairman Ben Bernanke is expected to discus the state of the US housing market at the National Association of Homebuilders International Builders’ Show in Orlando, FL.

Commodities are getting hit in the risk-off mood this morning. Nymex crude futures are down over a dollar to $98.40. Oil is getting hammered after the International Energy Agency lowered its global oil demand outlook from 1.1 million barrels to 800k barrels per day.

Stocks to watch today include Linkedin Corporation (NYSE:LNKD), Bank of America Corp. (NYSE:BAC), Netflix, Inc. (NASDAQ:NFLX),, Inc. (NASDAQ:AMZN), Nuance Communications Inc. (NASDAQ:NUAN), Apple Inc. (NASDAQ:AAPL) and Exelixis, Inc. (NASDAQ:EXEL)

Linkedin Corporation (NYSE:LNKD) is up 9.58% in pre market trading at $83.71. LNKD shares are rallying right now due to fourth quarter results. Excluding items, Linkedin earned $0.12 per share in the fourth quarter, beating estimates of $0.07 per share. Revenue doubled in the quarter to almost $168 million, 8 million more than analysts were expecting. The company has a market cap of 7.45 billion.

Bank of America Corp (NYSE:BAC) is down 1.34% in pre market trading. BAC shares are down this morning as the overall market is set to open lower. While reports said the Greece deal was done, it turns out that isn’t the case. BAC shares had been steadily moving up since mid December when it was trading at $5. The company has a market cap of 86.18 billion.

Netflix, Inc. (NASDAQ:NFLX) is down 1.38% in pre market trading at $123.12. NFLX shares are down alongside the whole market this morning. NFLX shares have dropped more than $5 a share since Tuesday. Netflix is feeling a lot of heat from competitors like Amazon and Redbox when it comes to streaming video. The company has a market cap of 6.92 billion., Inc. (NASDAQ:AMZN) is down 0.83% in pre market trading at $183.45. AMZN shares are slightly lower this morning as volatility creeps back into the market. Amazon signed a licensing deal with Viacom to bring popular channels such as Nickelodeon, VH1, MTV, TV Land, Spike, Logo, BET and Comedy Central to its streaming service. The company has a market cap of 84.18 billion.

Nuance Communications, Inc. (NASDAQ:NUAN) is down 10.08% in pre market trading at $27.38. NUAN shares are tumbling after the company posted its fiscal first quarter results. Nuance posted earnings of $0.34 per share on adjusted revenue of $382.4 million. Estimates were for $0.36 per share on revenue of $392 million. The company has a market cap of 9.16 billion.

Apple Inc. (NASDAQ:AAPL) is up 0.11% in pre market trading at $493.55. AAPL shares are up slightly this morning despite the overall negative market. Reports are increasing that Apple will unveil their iPad 3 at an event in March. The company has a market cap of 459.82 billion.

Exelixis, Inc. (NASDAQ:EXEL) is down 3.85% in pre market trading at $5.45. EXEL shares are down this morning after the company announced an offering of 11 million shares at $5.50 a share. The company has a market cap of 735.05 million.

Investors Shake off Greek Deal and Jobless Claims Numbers

Stocks are trading flat heading into midday trading as investors shrug off reports of a Greek deal and a drop in jobless claims. Reports came in this morning of a possible deal out of Greece. The deal would allow the financially struggling nation to receive a second bailout package.

Closer to home, jobless claims fell 15,000 to a seasonally-adjusted 358,000 according to the Labor Department. This is the second lowest level in almost four years. Many economists had expected claims to go up 3,000. While jobless claims fell, wholesale inventories rose 1% in December. This was higher than the 0.4% gain analysts were expecting.

Earnings season continues to be busy with companies releasing earnings earlier today and a few slated for after the market close.

Pepsico, Inc. (NYSE:PEP) shares took a hit this morning after the company reported better than expected profits, but guidance saw a 5% decline in 2012 earnings. This decline comes as Pepsico increases advertising and manufacturing costs. The company also announced it will be cutting nearly 9,000 jobs in restructuring. PEP is down 3.84% right now at $64.18.

Credit Suisse Group (NYSE:CS) is seeing a sell off today after the bank posted a quarterly loss. The company reported a net loss of $698 million, analysts were expecting a profit of $471 million. This loss comes as the company took $1.07 billion of charges to speed up cost cutting and dumping of risky assets. CS is down 3.33% at $26.72.

Visa Inc. (NYSE:V) is rallying today after announcing better than expected earnings late yesterday. The company also announced a share repurchase program worth $500 million. Also, many different brokerages increased their target prices for Visa. V is up 4.28% at $112.99.

Cisco Systems, Inc. (NASDAQ:CSCO) is down slightly in midday trading despite posting better than expected results and raising their dividend. CSCO is down 0.08% at $20.4141.

Apple Inc. (NASDAQ:AAPL) share are up today as Canaccord Genuity raised their price target from $650 to $665. Apple shares are up nearly $40 a share in the past week.

Investors will be eying Activision Blizzard, Inc. (NASDAQ:ATVI) and LinkedIn Corporation (NASDAQ:LNKD) as well as other companies after the market close when they report earnings.

Big Board Stocks In The Green: VMC, LNKD, AGO, GE, INTC, LLY

The stock market continues to look sluggish in morning trading today as the Dow is up 34 points, the Nasdaq is down 7 points and the S&P is down 0.5 point. The main reason behind this market action today is Standard & Poor’s putting much of the euro zone under credit watch downgrade. The ratings agency also put the EFSF on credit watch downgrade.

Let’s take a look at some big board stocks that are ignoring the sluggish market and are heading up.

Vulcan Materials Company (NYSE:VMC) is up 4.34% at $34.37 this morning. VMC has traded 2.3 million shares so far today, already above its daily average volume of 1.7 million shares. Over the past five trading sessions, VMC has seen a gain of $4 a share. Vulcan Materials has a market cap of 4.47 billion.

LinkedIn Corporation (NYSE:LNKD) is up 3.90% this morning at $72.68. LNKD has traded 1.4 million shares so far today and trades 1.2 million shares a day on average. LinkedIn is up today after J.P. Morgan upgraded the stock to overweight. LNKD is up more than $10 a share over the past week. The company has a current market cap of 7.12 billion.

Assured Guaranty Ltd. (NYSE:AGO) is up 3.52% this morning at $12.66. AGO has traded 1.6 million shares already today and should pass its daily average volume of 2.3 million shares. AGO stock is up $2.50 over the past week as some analysts think the stock will go higher. Assured Guaranty has a market cap of 2.31 billion.

General Electric Company (NYSE:GE) is up 2.05% today at $16.67. GE has traded 23.6 million shares so far today and trades 70.8 million shares a day on average. GE has risen about $1 a share since last Wednesday. General Electric has a market cap of 176.31 billion.

Intel Corporation (NASDAQ:INTC) is up 1.08% this morning at $25.28. INTC has traded 17.4 million shares so far today and averages 63.2 million shares a day. INTC is trading near its 52-week high of $25.49 today. INTC stock has jumped nearly $1 a share in the past five trading sessions. Intel Corporation has a market cap of 129.03 billion.

Eli Lilly & Co. (NYSE:LLY) is up 3.74% at $38.81 so far today. LLY has traded 7.3 million shares this morning, about a million shares short of its daily average for a full day. LLY is up close to $2 a share since last Wednesday. The company has a current market cap of 43.25 billion.

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