Futures Point to a Mixed Start
U.S. stocks futures are pointing towards a cautious start with investors eyeing U.S. trade data to gauge state of affairs in the global economy after Chinese trade data earlier today showed surprise jump in exports.
The Commerce Department is scheduled to release its monthly trade data (December) at 8:30 a.m. EST. economist are expecting trade deficit to contract by 6% to $45.5 billion, citing softness in imports. However, exports are also seen falling.
Meanwhile, a data release from china on Friday showed that exports jumped 25% in January YOY, the steepest growth in exports since April 2011.
Shares of LinkedIn Corp. (NYSE: LNKD) rallied in premarket trading after the professional networking site, reported 81% jump in fiscal fourth-quarter revenue while earnings comfortably beat Street’s forecast. The Company also provided better-than-expected outlook on the fiscal first quarter.
Shares of chipmaker, Microchip Technology Inc. (NASDAQ: MCHP) jumped about 6% in premarket trading after the Company following closing bell reported higher than expected fiscal third quarter results and provided optimistic outlook on the fourth quarter. The demand for microcontrollers is growing rapidly due to proliferation of smartphones and tablets. In the fiscal third quarter, revenue from microcontrollers accounted 29% of the company’s entire revenue.
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) leaped nearly 7% in premarket trading after robust sales of blockbuster titles “Call of Duty” and “Skylanders” in the holiday season quarter, helped the videogame maker to post higher-than-expected revenue and earnings for the fiscal fourth quarter.