Stock futures are in the green this morning as S&P futures are bid higher by 5 points, NASDAQ futures are up 18 and Dow futures are posting a 30 point gain. Fair value for the S&P 500 today is $3.26. HL Camp & Company's computers are set for program buying at $4.72 and set for selling at $2.20. Fair value for the NASDAQ-100 today is $7.20.
Texas Instruments increasing production?
Reports from SoundView say that semiconductor maker Texas Instruments (NYSE:TXN) is increasing production, primarily in its wireless components. SoundView thinks this provides positive upside visibility and may indicate the September or December quarter will mark the bottom.
Best Buy makes acquisition
Consumer electronics retailer Best Buy (NYSE:BBY) announces $377 million acquisition of Canada's largest consumer electronics retailer, Future Shop. Yesterday, shares of BBY finish down $1.76 to $58.29 and the stock has been under selling pressure the past six sessions.
The Commerce Department reported that retail sales came in flat for the month of July, better than the 0.2 percent drop that was expected. Gasoline and automobile sales fell, but sporting goods, personal care products, and clothing all posted gains. Bars and restaurants also reported a 1 percent gain.
Wal-Mart met earnings, but warned that third quarter profits would come in at the low end of expectations. Home Depot beat analysts' expectations by one cent, and said that second-quarter earnings rose 10 percent, thanks to higher lumber prices. The company also reiterated its guidance for the third quarter. JC Penny and Office Max also met expectations.