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Quick Take: Japan Throws Water on Rally

NEW YORK ( TheStreet) -- TheStreet's Debra Borchardt Tuesday outlined what was happening in the markets early.

U.S. stock futures were sliding much lower this morning on the back of increased uncertainty from Japan. The Bank of Japan announced that it would not take measures to limit volatility, despite the violent moves already witnessed in the Nikkei this year.

Investors and traders were already headline shy, especially with news from central banks and Federal Reserve officials, which accounted for this morning's selling pressure.

Luckily, futures aren't down as much Lululemon (LULU - Get Report), which slid 13% in premarket activity. The stock is down on CEO Christine Day's announcement that she will be stepping down from her role.

Although the yoga clothing company beat on both the top and bottom lines, it was clear that investors disapproved of the management change. Day was able to successfully drive the company through a period of hyper growth, as well as the see-through yoga pants recall.

While one CEO steps down, another one steps up. Dole Food Company (DOLE) CEO David Murdock announced a bid to take the company private at $12 per share.

The 90-year-old already owns approximately 40% of the company and his offer represents an 18% premium over Dole's most recent closing price.

Elsewhere, Boeing (BA) announced it expects 35,000 new planes to be made over the next 20 years. This would roughly double the world fleet of passenger and cargo planes in the next two decades.

-- Written by Bret Kenwell in Petoskey, Mich. .

Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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DOLE $0.00 0.00%
LULU $65.55 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
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