Post-Election Slump, Agrium Earnings, Another Storm: Afternoon Buzzers
Stock futures are down before the opening bell, with the Nasdaq pushing nearly a percent lower.
James River Coal (NASDAQ:JRCC) dropped as much as 23.41 percent in the afternoon after posting third-quarter results. Coal stocks enjoyed an election-day boost, and could remain volatile while the political dust settles with several industry partners joining James River in afternoon losses.
Sprint (NYSE:S) has reached a deal with U.S. Cellular (NYSE:USM) whereby it will acquire about 30MHz of PCS spectrum and 585,000 customers. The arrangement could take some tension out of Sprint’s relationship with Clearwire (NASDAQ:CLWR).
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Agricultural product retailer Agrium (NYSE:AGU) missed its bottom line in the third quarter. Earnings posted before the bell come in at $1.34 per share, 48 cents below estimates. Retail and wholesale volumes are both down and fourth-quarter guidance has been lowered. Shares dropped as much as 9.53 percent in the afternoon.
Still recovering from hurricane Sandy, New York and New Jersey may be hit again with another storm heading up the coast that is expected to dump snow on the region. Airlines such as United Continental (NYSE:UAL) are canceling flights starting Wednesday.