U.S. futures were largely flat Wednesday morning, as European stocks show signs of recovery after the terrorist attacks in Brussels Tuesday sent world markets tumbling.
European markets are leading the recovery today with the German DAX climbing 1.2%, the FTSE 100 rising 0.2% and the CAC 40 gaining 0.5% with about four hours left in trading.
Oil prices continue to slump today, however, with industry standard Brent crude falling $0.23 to $41.56 per barrel and West Texas crude dropping $0.35 to $41.10 per barrel.
Shares of Nike (NKE) were declining premarket after the sports apparel maker reported its results for third quarter fiscal year 2016 (ending May). The company beat analysts' bottom-line expectations, but the company's outlook numbers disappointed.
Krispy Kreme Doughnuts (KKD) shares were down about 8% premarket following its January-quarter earnings release. While the company beat analysts' bottom-line expectations, revenue, which climbed 4% year over year to $130.4 million, failed to meet forecasts of $131.4 million. Domestic same-store sales rose 1.6% in the quarter, but also failed to meet analysts' 2.9% growth expectations. For the year, the company projects earnings per share between $0.88 and $0.91. Analysts are expecting EPS of $0.92.
General Mills (GIS) could face negative pressure today after the cereal maker underperformed in its domestic retail sector in the February quarter. U.S. sales fell 7% to $2.48 billion, while profit for the period remained relatively flat.
The Office Depot (ODP)/Staples (SPLS) merger injunction hearing continues today with Amazon (AMZN) executive Prentis Wilson scheduled to be cross examined after he testified on behalf of the Federal Trade Commission on Tuesday.
Investment bank Credit Suisse (CS) said that it will be implementing $821 million in additional cost cuts, which include eliminating 2,000 jobs at its investment banking division.
PVH Corp. (PVH) fell yesterday ahead of the release of its fourth-quarter earnings report today after the closing bell. The apparel company, whose portfolio includes Calvin Klein and Tommy Hilfiger, is expected to report earnings of $1.46 per share, a decline from the year-ago period, on revenue of $2.07 billion.
