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Aluminum maker Alcoa jumped 1.6 percent to
$16.32, a day after its third-quarter earnings beat expectations
on higher aluminum prices and lower costs.
The results contributed to a positive tone on Wall Street as
Alcoa was one of the first major companies to report, and some
consider it a bellwether for the broader earnings season.
Beverage giant PepsiCo rose 1.7 percent to $95.52 in premarket
after raising its full-year profit forecast. However, in a
factor that will be closely watched by investors throughout the
season, revenue was slightly hurt by the impact of currency
translations.
Also in company news, Endo International Plc <ENDP.O> said it
would buy Auxilium Pharmaceuticals Inc <AUXL.O> in a deal valued
at $2.6 billion, including the repayment and assumption of debt.
Shares of Endo dipped 0.3 percent to $70.80 in light premarket
volume while Auxilium jumped 10.6 percent to $32.90.
Futures snapshot at 0748 EDT:
* S&P 500 e-minis <ESc1> were down 4.25 points, or 0.22 percent,
with 282,596 contracts changing hands.
* Nasdaq 100 e-minis <NQc1> were down 7.5 points, or 0.19
percent, in volume of 36,865 contracts.
* Dow e-minis <1YMc1> were down 52 points, or 0.31 percent, with
39,647 contracts changing hands.
(Editing by Bernadette Baum)
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