U.S. stock futures were trending lower on Tuesday as investors reacted to Russian President Vladimir Putin ordering troops into eastern Ukraine. The markets remain on edge as tensions between Ukraine and Russia threaten to escalate.
Dow futures (DJIA) were down 0.59%, S&P futures (SPX) were down 0.55%, and Nasdaq futures (NDX) were down 1.06% at the time of writing.
Upcoming Earnings
Sohu.com (SOHU), Lindblad Expeditions Holdings Inc. (LIND), and Dorman Products (DORM) are set to report their quarterly results before the bell. Coca-Cola Bottling Co. Consolidated (COKE), Exact Sciences Corp. (EXAS), and American Campus (ACC) will report after the bell.
Market News
SPI Energy Co., Ltd. (SPI) plans to expand its manufacturing facility in Sacramento, California. The upgrade, which will involve the latest technology, is expected to increase solar module manufacturing capacity to 1.1GW by the second half of the year.
Shares of Abbott Laboratories (ABT) fell 3.1% after the General Administration of Customs in China asked consumers not to buy or consume the company’s baby products. The decision follows a recall last week of some baby food formulas such as Similac and EleCare over concerns they could cause bacterial infections in children.
JetBlue Airways (JBLU) has enhanced its presence in Mexico with the opening of a third destination. The low-cost airline operator has launched services between John F. Kennedy International Airport and Puerto Vallarta’s Gustavo Diaz Ordaz International Airport (PVR). It becomes the only airline to offer non-stop flights to Puerto Vallarta from JFK.
Kroger Company (KR) has strengthened its ability to offer simple and on-demand meal options in its stores. The retail giant has opened its second kitchen center in Houston, Texas, as part of an ongoing partnership with Kitchen United Mix. Customers in the Houston area will soon be able to place orders digitally using Kitchen United’s proprietary MIX platform and have them delivered to their locations or collected from Kroger stores.
Williams (WMB) shares were trading almost 3% higher in the pre-market session after the energy company delivered solid fourth-quarter and full-year 2021 results. Adjusted earnings per share landed at $0.39, better than consensus estimates of $0.34 a share. Available funds from operations increased to $1.05 billion during the quarter from $983 million in the same quarter the previous year.
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