Alcoa Starts Earnings Season, AT&T Wants Hulu: Morning Buzzers
U.S. stock futures rose this morning as Alcoa began earnings season. Analysts are expecting only modest growth from the S&P 500 for the second quarter. Investors are also waiting on comments from Federal Reserve Chairman Ben Bernanke, who will speak at the Federal Open Market Committee meeting Wednesday.
Futures at 8:30 a.m.: DJIA: +0.46% S&P 500: +0.55% NASDAQ: +0.61%
Here’s your cheat sheet to the stories buzzing this morning:
AT&T (NYSE:T) has reportedly teamed up with Chernin Group to make an offer for TV streaming service Hulu, which is currently owned by Comcast Corp. (NASDAQ:CMCSA), 21st Century Fox, and Walt Disney Co. (NYSE:DIS). Bids for the Los Angeles-based company, which was put on the auction block because owners Fox and Disney couldn’t agree on the company’s direction, were due yesterday. Other companies that reportedly made offers include DirecTV (NASDAQ:DTV) and Yahoo (NASDAQ:YHOO).
Boeing Co.’s (NYSE:BA) 777 jet that crashed in San Francisco on Saturday had several safety features that helped save lives in the accident, including a flame-retardant cabin and engineering that ensured the plane wouldn’t break up too much. For now, it does not appear as though any mechanical failure caused the crash, which is good news for Boeing after the safety issues that have plagued the 787 Dreamliner this year.