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Pre-Market: Halliburton Beats Estimates; Ukraine Tensions Drive Global Markets Lower


Netflix will report earnings after the closing bell.

Stock futures headed toward a higher open on Monday. Before the opening bell, Dow Jones (INDEXDJX:.DJI) futures rose 0.07% to 16,354. Futures on the S&P 500 (INDEXSP:.INX) were up 0.06% to 1,859. Nasdaq (INDEXNASDAQ:.IXIC) futures moved higher, rising 0.26% to 3,532.50.


Earnings season continues today, with Halliburton (NYSE:HAL) beating estimates this morning. Halliburton reported a quarterly profit of $622 million, or a $0.73 EPS, versus an $18 million loss in the same quarter last year. Halliburton President and CEO Dave Lesar believes EPS will grow around 25% in the second quarter. Shares of Halliburton were up 1.03% in pre-market trading.

Tissue and toilet paper-maker Kimberly Clark (NYSE:KMB) beat estimates in the first quarter, reporting a net income of $538 million, or $1.41 per share. The company is expected to spin off its health-care business by the end of the third quarter. 

Netflix (NASDAQ:NFLXreports earnings after the closing bell. Investors will be looking closely at the company's subscriber numbers and guidance for subscriber growth. Remember that Netflix ended the fourth quarter with 33.4 million US streaming subscribers and expected to add 2.24 million news subscribers this quarter. Netflix was trading up 1.09% before today's open.

In other stock news, Barclays (NYSE:BCS) is expected to step down as one of the world's biggest commodities traders, shutting parts of its metal, agricultural, and energy business. Several large banks, such as Morgan Stanley (NYSE:MS), Deutsche Bank (NYSE:DB), and UBS (NYSE:UBS) are moving out of commodities trading thanks to lower margins and tough regulations.

Tesla (NASDAQ:TSLA) will begin delivering orders of its Model S vehicles to China this week. Tesla CEO Elon Musk says that he expects Tesla will be making cars in China in the next three to four years. Shares of Tesla were up 0.09% in pre-market trading.

Kraft Foods (NASDAQ:KRFT) is recalling 96,000 pounds of hot dogs because packages labeled as classic hot dogs may in fact contain cheese dogs.

The Economy

A light day for economic indicators began with the Chicago Fed's National Activity Index, which rose to an adjusted .20 in March vs. the .53 it rose the month prior. The Conference Board's index of leading economic indicators will arrive at 10:00 a.m. and is expected to rise 0.7% in march according to a Bloomberg Survey.

Global Markets

Tensions in the Ukraine put pressure on global markets on Monday. Asian stocks were mixed as the MSCI Asia-Pacific Index fell 0.1% while Japan's Nikkei (INDEXNIKKEI:NI225) rose 0.3%. Japan reported its weakest export growth in a year, with shipments overseas rising 1.8% versus a median analyst estimate of 6.5%. In Europe, stocks declined as German confidence data missed forecasts and Russian troops occupied a town in eastern Ukraine.

Twitter: @brokawbrokaw
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