Futures on major U.S. stock indices extended their losses after government data showed that US economic activity slowed in the second quarter.
Bank of America is selling 2 billion euros ($2.6 billion) of seven-year notes at a yield of 212.5 basis points over the benchmark mid-swap rate, 22.5 basis points more than it paid on its last benchmark euro deal in March and Spain’s Banco Santander SA is also paying extra for its first public issue of fixed- rate senior, unsecured bonds since February, Bloomberg reported. Bank of America Corp. (NYSE:BAC, $14.03, +$0.04, 0.29%) fell 1.35 percent to $13.84 on Friday morning pre-market trading session, while on Thursday, shares of Bank of America rose 0.29 percent, closed on $14.03 and BofA dropped 3.71 percent in the past one month trading.
Genworth Financial Inc., the mortgage guarantor and life insurer, Thursday reported a profit for the second quarter, compared to a loss last year as results improved in its business backing home loans. Genworth Financial reported secon-quarter net income was $77 million, or 16 cents per share, compared with a loss of $50 million, or 11 cents per share in the same quarter a year earlier. Revenue fell 2.9 percent to $2.41 billion from $2.48 billion. Genworth Financial, Inc. (NYSE:GNW, $15.79, +$0.23, 1.48%) dropped 7.22 percent to $14.65 on Friday morning pre-market trading session, while on Thursday, Genworth Financial shares jumped 1.48 percent, closed on $15.79.
The New York-based life insurer, MetLife Inc. on Thursday reported a second-quarter profit of $1.53 billion as revenue rose and the company booked an investment gain on derivatives. MetLife reported second-quarter net income of $1.56 billion, or $1.84 per share, compared with a loss of $1.4 billion, or $1.74 per share, in the same quarter a year earlier. Revenue rose 72 percent to $14.23 billion from $8.27 billion. MetLife, Inc. (NYSE:MET, $40.20, +$0.9, 2.29%) rose 0.85 percent to $40.54 on Friday morning pre-market trading session, even on Thursday, shares of MetLife climbed 2.29 percent, closed on $40.20.
Merck, the world’s second-biggest drug company by revenue, on Friday reported that its second-quarter net income fell 52 percent as merger and restructuring charges and lower income from partnerships. Merck reported sendon-quarter net income of $752.4 million, or 24 cents per share, from $1.56 billion, or 74 cents per share, in the same quarter a year earlier. Merck & Co., Inc. (NYSE:MRK, $35.06, +$0.32, 0.92%) dropped 2.08 percent to $34.33 on Friday morning pre-market trading session, while on Thursday, Merck & Co. shares jumped 0.92 percent, closed on $35.06.
Alcatel-Lucent SA, France’s largest telecommunications equipment maker, on Friday eported a second-quarter net loss but said it remains on track for a targeted improvement in profitability this year. Alcatel-Lucent SA reported second-quarter net loss of 184 million euros ($240.6 million), reversing from net income of 14 million euros last year. Alcatel-Lucent (NYSE:ALU, $2.60, -$0.09, -3.35%) rose 9.62 percent to $2.85 on Friday morning pre-market trading session, while on Thursday, shares of Alcatel-Lucent fell 3.35 percent, closed on $2.60.
The Walt Disney Co. said Friday that it agreed to sell Miramax Films to an investor group for more than $660 million. The Walt Disney Company (NYSE:DIS, $33.71, -$0.33, 0.97%) dropped 0.86 percent to $33.42 on Friday morning pre-market trading session, even on Thursday, Walt Disney shares were down 0.97 percent, closed on $33.71.
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