This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Futures Up on Claims Drop; Dell/3Par

NEW YORK ( TheStreet) -- Stock futures jumped Thursday after initial claims fell more than expected and 3Par (PAR - Get Report) reached a revised merger agreement with Dell (DELL - Get Report).

Futures for the Dow Jones Industrial Average were up by 52 points at 10,099 and were 57 points above fair value. Futures for the S&P 500 were ahead by 7 points at 1061 and were 8 points above fair value, and Nasdaq futures were higher by 11 points and were 12 points above fair value.

Stocks ventured tentatively into positive territory late in Wednesday's session despite another round of weak data as the Department of Commerce reported a 12.4% drop in July new-home sales, a day after a report showed that July existing-home sales fell to the lowest levels in more than a decade.

3Par (PAR - Get Report) reached a revised merger agreement with Dell (DELL - Get Report) after Dell topped Hewlett-Packard's (HPQ - Get Report) per-share bid by 30 cents with an offer of $24.30 a share.

The Labor Department said the number of people filing for jobless benefits declined by 31,000, to 473,000 in the week ended Aug. 21 after the previous week's upwardly revised level of 504,000. The drop is better than the 485,000 claims that economists had been looking for, according to Briefing.com.

Unemployment

Joe Miller, a favorite of Sarah Palin and the Tea Party movement, appeared close to taking Alaska's Republican Senate primary, driving out Republican Sen. Lisa Murkowski.

At 10:30 a.m. EDT, the Energy Information Administration will issue its weekly read on natural gas supplies. Analysts polled by Platts are expecting storage levels to add between 37 billion and 41 billion cubic feet in the week ended Aug. 20.

Ahead of the report, October natural gas futures were trading nearly a penny higher at $3.90 per million British thermal units. Crude oil for October delivery was gaining 86 cents to trade at $73.38 a barrel a day after the EIA reported a larger-than-expected increase of 4.1 million barrels to inventories in the week ended Aug. 20.

Ford (F) is moving further into Asia as it announced plans for eight new vehicles in India and a $350 million investment with partner Mazda in its Thailand pickup plant. The automaker said Asia will account for 70% of its global growth in the next decade.

France's second-largest bank, Credit Agricole , posted second-quarter income that was nearly 89% higher at €379 million ($481 million), surpassing analysts' estimates. Quarterly revenue rose 20% to €5.47 billion.

Strong performance in emerging markets drove Diageo's (DEO) growth, the maker of Johnnie Walker whisky and Guinness beer said. The company narrowly missed estimates with full-year earnings that rose 1.5% to 1.63 billion pounds ($2.53 billion). Sales rose 2% to 9.78 billion pounds.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
DELL $0.00 0.00%
HPQ $33.26 -0.36%
PAR $4.15 0.00%
AAPL $130.28 0.47%
FB $81.53 -1.07%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs