The S&P 500 .SPX
is still down more than 3 percent from its Dec. 29 record high amid
lackluster corporate earnings and data showing the U.S. economy growing
at a slower pace than investors anticipated.
January's 3.1 percent
decline was the worst monthly performance for the index in a year.
According to Thomson Reuters data through Monday morning, of 226 companies in the S&P 500 to report results, 73 percent beat expectations. The expected growth rate for the quarter sits at 5.4 percent, down from 11.2 percent expected on Oct. 1.
Aetna (AET.N), the third-largest U.S. health insurer, reported fourth-quarter earnings that matched Wall Street expectations and raised its 2015 forecast for operating earnings.
Stratasys (SSYS.O) shares plunged 26.2 percent to $59.10 in premarket after the company cut its 2014 adjusted profit estimates for a second time.
Office Depot (ODP.O) shares surged 13 percent to $8.62 before the opening bell after the Wall Street Journal reported the company is in advanced talks to merge with Staples Inc (SPLS.O). Staples shares jumped 13.1 percent to $19.38.
In other merger news, Advent Software (ADVS.O) agreed to be acquired by SS&C Technologies (SSNC.O) for $2.7 billion in cash, sending shares up 5.6 percent to $43.70.
Economic data expected Tuesday includes December factory orders at 10:00 a.m. (1500 GMT) and U.S. vehicle sales throughout the day.
According to Thomson Reuters data through Monday morning, of 226 companies in the S&P 500 to report results, 73 percent beat expectations. The expected growth rate for the quarter sits at 5.4 percent, down from 11.2 percent expected on Oct. 1.
Aetna (AET.N), the third-largest U.S. health insurer, reported fourth-quarter earnings that matched Wall Street expectations and raised its 2015 forecast for operating earnings.
Stratasys (SSYS.O) shares plunged 26.2 percent to $59.10 in premarket after the company cut its 2014 adjusted profit estimates for a second time.
Office Depot (ODP.O) shares surged 13 percent to $8.62 before the opening bell after the Wall Street Journal reported the company is in advanced talks to merge with Staples Inc (SPLS.O). Staples shares jumped 13.1 percent to $19.38.
In other merger news, Advent Software (ADVS.O) agreed to be acquired by SS&C Technologies (SSNC.O) for $2.7 billion in cash, sending shares up 5.6 percent to $43.70.
Economic data expected Tuesday includes December factory orders at 10:00 a.m. (1500 GMT) and U.S. vehicle sales throughout the day.
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