Futures Edge Higher; Verizon Shares Rise - Market Overview * US * News * Story

LATEST STOCK MARKET DATA

Hot & Cold Sectors
Tracking the major movements across the best & worst performing industry sector indexes.
Dow Components
Top Gainers & Losers
Major Indexes & Stocks to Watch

MORE HEADLINES

Markets | Economy | Companies

- Kraft Weighs Higher Cadbury Bid as Rivals Circle

LATEST FROM OUR BLOGS

- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University

FEATURED SLIDESHOWS

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Fashion Show.
The Richest Members of the US Congress
Recently, the Center for Responsive Politics found that there are 237 millionaires in the US Congress.
10 Tips to Get Out of Debt
Renowned financial author Gail Vaz-Oxlade takes a tough-love approach to helping couples in a financial crisis to face reality.

FEATURED QUIZZES

How Much Do You Know About Green?
Green has become part of our everyday lives. Green is everywhere-- energy, clothing, food, housing, transportation. It's a big business and a global business.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

Futures Edge Higher; Verizon Shares Rise

Published: Monday, 26 Oct 2009 | 7:52 AM ET

Text Size

By: CNBC.com

Futures pointed to a flat to slightly higher open for Wall Street on Monday as a new week brings another heavy dose of corporate earnings, following the first weekly loss in three for the U.S. stock market's major averages.

Pre-Markets/Futures Data

Dow 30: Extra-Hour Quotes

Dow component Verizon helped keep futures positive, posting a profit of 60 cents a share that narrowly topped analyst estimates. Shares gained 1.9 percent in premarket trading.

Banking stocks, though, could be a drag on the indexes after Rochdale Securities analyst Richard Bove downgraded three of the industry's bigger names.

Bove cut SunTrust [STI Loading... () ] and Fifth Third Bancorp [FITB Loading... () ] to sell from neutral and knocked US Bancorp [USB Loading... () ] down to neutral. SunTrust shares dropped 2.3 percent premarket.

On the flip side, Novatel Wireless [NVTL Loading... () ] shares jumped 5.4 percent after Barron's said the company's shares could move toward $20 due to sales from a new Wi-Fi network device.

And Terradata [TDC Loading... () ] shares gained 4 percent after Barron's said the company could hit $52 if revenue growth hits expectations.

And Legg Mason [LM Loading... () ] shares rose 2 percent on news that Nelson Peltz will be elected to the company's board, a move that will avoid a proxy fight. Peltz owns Trian Fund Management, which holds about 4.3 percent of Legg Mason's shares. He agreed that he would not accumulate more than 9.9 percent for the next two years.

As October draws to a close, the S&P 500 and the Nasdaq remain on track for their eighth consecutive monthly gains and their best yearly gains since 2003.

Companies of note reporting earnings this morning: Corning; McGraw-Hill; and RadioShack; Tellabs.

Companies Reporting Earnings:

A relatively light economic calendar today, with no major economic stats on the docket, but the Treasury will be auctioning $7 billion in TIPS, with results available shortly after 1 pm New York time. It's the start of a record $123 billion in auctions this week.

Legg Mason [LM Loading... () ] could be a stock to watch, with activist investor Nelson Peltz to be elected to the board on Monday. His Trian Fund Management owns 4.3 percent of Legg Mason, and the move is part of an agreement that will avoid a proxy fight over the next few years. Trian has agreed not to accumulate more than 9.9 percent during that time.