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Nasdaq, S&P 500 Lead Futures Lower; Wings, Auto Parts Names Soar | Stock News & Stock Market Analysis

Stock futures cut furter into their early losses Tuesday, as late-season earnings reports, early company news and overseas trade pressured the premarket session.

XAutoplay: On | OffNasdaq 100 and S&P 500 futures dropped 0.2% below far value. Futures for teh Dow Jones industrial average held to a 0.1% decline. Small caps led the early downside, with Russell 2000 futures down 0.3%.

Disney Top Dow, Home Depot Slides; Buffalo Wild, Advanced Auto Spike

On the Dow, Walt Disney (DIS) chalked off a 1% premarket gain. Merck (MRK) followed close behind, up 0.9%.

At the low end of the index, Home Depot (HD) shed 0.9% after its third quarter results topped analysts’ targets and its full-year 2018 revenue and earnings guidance bested consensus views. Shares have been pulled back in a first test of support at their 10-week moving average since clearing a 160.96 flat base buy point in September.

Buffalo Wild Wings (BWLD) darted 27% higher ahead of the open. News reports late Monday said Roark Capital Group had offered $2.3 billion to take the chain private. The fast-casual chain has been battling rising prices for chicken wings. The stock ended Monday 23% above a September low, and 43% below its record high, marked in September 2015.

Semiconductor equipment maker Kulicke & Soffa (KLIC) bolted ahead 9% in early action. The Singapore-based company reported a 240% surge in fiscal fourth-quarter earnings, a 48% revenue advance, both above analyst expectations. Management’s first-quarter revenue guidance was also well above forecasts. Shares finished Monday in a buy range above a 23.10 buy point in a five-month base.

U.K.-based wireless provider VodafoneVOD popped nearly 5%, the largest early move among Nasadq 100 stocks. The company reported stronger-than-expected first half results, and raised its full-year guidance above consensus views.

Advanced Auto PartsAAP led the S&P 500 in premarket action, surging 15% as third-quarter earnings soared past analyst projections. Revenue fell 3%, worse than expected, and profit margins decreased while costs rose sharply.

NFIB Index Misses Target; Yellen Speaks On Speeches

The National Federation of Independent Business’ Small Business Optimism Index inched up to a 103.8 reading in OCtober, vs. September’s tally of 103. Economist had projected an uptick to 105.

The Labor Department reports October producer price data at 8:30 a.m. ET.

Fed Chair Janet Yellen, speaking as part of a panel discussion at the Central Bank Communications Conference in Frankfurt, Germany, discussed the challenges of having a 19-member decision making body, and attempting to manage or govern statements made in speeches by those individuals regarding their perspectives on monetary policy.  Bank of Japan Governor Haruhiko Kuroda, European Central Bank President Mario Draghi and Bank of England Governor Mark Carney also participated in the panel.

St. Louis Federal Reserve Bank President James Bullard speaks at 8:15 a.m. ET in Louisville, Ky.

Action across Asian stocks markets showed China’s top benchmarks losing ground Tuesday while, in Japan, Tokyo’s Nikkei 225 finished effectively flat.

Trade in Europe and the U.S. was once again mixed near midday, with London’s FTSE 100 up 0.2%, Frankfurt’s Dax showing a fractional decline and the CAC-40 in Paris slipping 0.1%.

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