Stock futures fall ahead of open
U.S. stock futures were lower shortly before the opening bell on a week where the pace of company earnings reports picks up.
The Dow Jones industrial average futures fell 28 points to 16,353. The Standard & Poor’s 500 index futures dropped five points to 1,832 and the Nasdaq futures were down eight points to 3,553.
Lululemon Athletica Inc. shares fell about 13 percent in premarket trading after the fashion retailer said its sales have dropped off in January and its fourth-quarter results will be lower than expected.
Beam Inc., the maker of Jim Beam and Maker’s Mark bourbons along with other liquor brands, jumped 25 percent in trading before the open after it announced that it had agreed to be acquired by Japan’s Suntory Holdings Ltd. for approximately $13.62 billion.
The yield on the 10-year Treasury note was unchanged at 2.86 percent from Friday. The price of oil fell 99 cents, or 1.06 percent, to $91.76 a barrel. Gold fell $1.40, or 0.1 percent, to $1,245.50 an ounce.