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Pre-Market: GM May Have Delayed Recall for Years; Microsoft Launches 'Titanfall'


Crimea's parliament voted to secede from Ukraine.

Stock futures headed lower today after a slight decline on Monday.

Before the opening bell, Dow (INDEXDJX:.DJI) futures were down by 0.05% at 16.405. Futures on the S&P 500 (INDEXSP:.INX) dropped 0.08% to 1,875.70. Nasdaq (INDEXNASDAQ:.IXIC) futures ticked down 0.01% to 3,707.25.

Urban Outfiters (NASDAQ:URBN) may see heavy trading after the company released pessimistic guidance. Shares of Urban Outfitters, which operates Anthropologie and Free People stores as well as its namesake shops, dropped 3% in pre-market trading. The retailer reported earnings of $0.59 per share for the fourth fiscal quarter, beating projections by a nickel. CEO Richard Hayne said that harsh winter weather contributed to a "staggering" increase in store closings and consumers staying home. He also expects poor weather to negatively impact the brand's sales and margins in the near future.

General Motors (NYSE:GM) will also be on investors' radar today as the automaker might be called before Congress for concealing safety hazards. It was reported late yesterday that GM took nearly a decade to recall 1.6 million vehicles with faulty ignitions. The recall began in February, but GM employees allegedly knew about the defect in 2004. The House Energy and Commerce Committee will hold hearings on the issue. GM shares were down 0.24% in early trading.

Microsoft (NASDAQ:MSFT) will launch Titanfall, a well-anticipated robot shoot-'em-up game that the company hopes will juice sales of the Xbox One, which have lagged behind those of the cheaper Sony (NYSE:SNE) Playstation 4. The $60 game will come bundled for free with a new Xbox. A Microsoft representative told Reuters that it is making a "big bet" that the game will be a blockbuster, but declined to offer sales forecasts.

The only major economic indicator due for release today is the January Job Openings and Labor Turnover study, a job market indicator that the Federal Reserve watches closely. Job openings for the month are likely to have increased to 4 million from 3.99 million in December 2013.

Overseas stock markets were mixed overnight. Today, Germany reported that imports and exports increased at the fastest clip in nearly two years. Imports increased 4.2% month-over-month in January, lowering the country's trade surplus to 17.2 billion euros. Exports rose 2.9% on a yearly basis, helped by a 3.2% rise in shipments to Germany's eurozone trading partners. Italy said that GDP rose by 0.1% on a quarterly basis in the final three months of 2013, meeting economists' expectations. The Italian economy has declined by 0.9% from the same period a year earlier.

Crimea's regional parliament voted today to secede from Ukraine. Soon, residents of the ethnically diverse peninsula will vote in a referendum on whether to join the Russian Federation.

Twitter: @vincent_trivett
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