Stock Futures Fall as Oil Surges
E-Trade Financial's (ETFC) stock was off by 5.7% at $15.70 after the online broker said major shareholder Citadel Investment Group plans to sell nearly 24 million of its common shares in a secondary offering.
General Motors (GM) posted an adjusted profit of 52 cents a share, beating Wall Street's estimates for earnings of 46 cents a share. Sales of $36.9 billion also surpassed revenue targets of $34.1 billion. The stock was up by 0.03% at $34.60.
Retailer Sears Holding (SHLD) named Lou D'Ambrosio as CEO and president and said profit in the fourth quarter topped analysts' estimates even though domestic same-store sales slipped 1.2%. Shares were gaining 2% to $89 in early trading.
Shares of Dish Network (DISH) were down 0.04% at $22.92 after the pay-TV provider reported a fourth-quarter profit of 56 cents a share on sales of $3.21 billion, compared with analysts' estimates for earnings of 54 cents a share on sales of $3.21 billion.At 10 a.m., new-home sales are expected to fall to 310,000 in January, from 329,000 in December, according to Briefing.com.
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