NEW YORK (TheStreet) -- Stock futures were lower Tuesday, putting the Dow Jones Industrial Average at risk of snapping a seven-session winning streak.
S&P 500 futures were down 0.52%, Dow futures fell 0.51%, and Nasdaq futures slid 0.65%.
Twitter (TWTR) - Get Report jumped 3% in premarket trading after announcing it will cut 336 jobs, or around 8% of its work force, as part of a restructuring. The social network expects to incur between $10 million and $20 million in cash expenditures tied to severance costs.
Anheuser-Busch InBev (BUD) - Get Report and SABMiller (SBMRY) agreed to a deal that would combine the two largest beer companies in the world. Anheuser-Busch has agreed to purchase SABMiller for 68 billion pounds ($104 billion) or 44 pounds a share. SABMiller had previously rejected an offer to purchase the company for 42 pounds a share. The deal creates the world's largest beer company with nine of the world's top 20 beers under the one roof.
Johnson & Johnson (JNJ) - Get Report kicked off a busy earnings week after reporting a mixed third quarter. The drugmaker earned $1.49 a share, 4 cents above estimates, while sales fell 7.4% to $17.1 billion. Johnson & Johnson also announced plans to buy back up to $10 billion of common stock.
Barclays (BCS) - Get Report shares were on watch on reports Jes Staley, former JPMorgan banker, will take over as CEO of the bank. The bank's board has reportedly approved the appointment and will make an announcement within the next two weeks. Barclays' previous CEO, Antony Jenkins, was removed from his position in July after disagreements with board members.
Agricultural chemicals company FMC Corp. (FMC) - Get Report joined rivals Monsanto (MON) and DuPont (DD) - Get Report in forecasting lower full-year earnings in the face of weakened industry demand and a decline in the Brazilian real. The company lowered profit forecasts to $2.35 to $2.45 a share, below previous estimates of $3 to $3.30 a share. FMC also announced it will cut as many as 850 jobs, or around 12% of its work force.
China's economy continues to show signs of weakness after imports and exports slumped in September. Imports fell 20.4% year over year, while exports slid 3.7%, creating a trade surplus of $60.34 billion. The weak results are the latest sign growth in the world's second-largest economy is significantly slowing.