<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">Shares of Ford Motor Co. (F: news, chart, profile) fell 3.3% to $10.80 in pre-market dealings after the carmaker, faced with high costs and slumping sales, slashed its full-year profit target. The company also said it would cut about 1,750 of its North American white collar jobs. See full story.
Adding to the company's woes, Standard & Poor's said that its ratings and outlook will not be impacted for now by the its profit warning but cautioned that a further downgrade is a strong possibility.
In other earnings news, Morgan Stanley posted a 24% drop in second quarter net income from year ago levels, and 34% from first quarter levels as fixed-income trading results suffered. The bank already warned last week its results would be lower than its year-ago earnings.
The weak results come just a few days after the investment bank announced the departure of its controversial Chief Executive Philip Purcell. Ahead of the bell, the bank's shares were up 0.6% in thin trading. See full story.
Also in the banking sector, shares of the Bear Stearns Companies Inc. (BSC: news, chart, profile) could come under pressure after it said the Securities and Exchange Commission may bring an enforcement action against it in connection with mutual fund trading activity.
Bear Stearns had already disclosed it was being probed on the issue. The bank said it believes it has "strong defenses" to the potential claims and plans to continue to talk regarding a possible resolution. On Tuesday, the bank's stock fell 0.2% to $103.16.
Ameritrade shares (AMTD: news, chart, profile) climbed 2.5% to $15.19 in pre-market trading as television channel CNBC reported that the online broker is to buy its rival TD Waterhouse for $3 billion. On Tuesday, TD Waterhouse shares rose 0.6% to $43.61. See full story.
Shares of the Coca-Cola Company (KO: news, chart, profile) could receive a lift in early trading after the beverage giant and the European Commission reached an anti-trust settlement, ending a six-year probe into its aggressive marketing techniques on the continent. On Tuesday, the stock ended down 0.5% at $43.68. Read more
U.S.-listed shares of Nokia (NOK: news, chart, profile) added 1.4% to $17.52 in pre-market trading amid largely positive broker comment on the outlook for the Finnish handset maker.
Although Deutsche Bank cuts its recommendation on the company to hold from buy, it still expects the company to deliver a strong set of second-quarter results and to enjoy a solid 2005. The broker just believes these good earnings prospects are already reflected in the share price.
UBS however upgraded Nokia to buy from neutral, highlighting the company's focus on delivering balanced solutions in terms of features and functionality across "a simplified market segmentation strategy."
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Mark Cotton is a reporter for MarketWatch in New York.
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Adding to the company's woes, Standard & Poor's said that its ratings and outlook will not be impacted for now by the its profit warning but cautioned that a further downgrade is a strong possibility.
In other earnings news, Morgan Stanley posted a 24% drop in second quarter net income from year ago levels, and 34% from first quarter levels as fixed-income trading results suffered. The bank already warned last week its results would be lower than its year-ago earnings.
The weak results come just a few days after the investment bank announced the departure of its controversial Chief Executive Philip Purcell. Ahead of the bell, the bank's shares were up 0.6% in thin trading. See full story.
Also in the banking sector, shares of the Bear Stearns Companies Inc. (BSC: news, chart, profile) could come under pressure after it said the Securities and Exchange Commission may bring an enforcement action against it in connection with mutual fund trading activity.
Bear Stearns had already disclosed it was being probed on the issue. The bank said it believes it has "strong defenses" to the potential claims and plans to continue to talk regarding a possible resolution. On Tuesday, the bank's stock fell 0.2% to $103.16.
Ameritrade shares (AMTD: news, chart, profile) climbed 2.5% to $15.19 in pre-market trading as television channel CNBC reported that the online broker is to buy its rival TD Waterhouse for $3 billion. On Tuesday, TD Waterhouse shares rose 0.6% to $43.61. See full story.
Shares of the Coca-Cola Company (KO: news, chart, profile) could receive a lift in early trading after the beverage giant and the European Commission reached an anti-trust settlement, ending a six-year probe into its aggressive marketing techniques on the continent. On Tuesday, the stock ended down 0.5% at $43.68. Read more
U.S.-listed shares of Nokia (NOK: news, chart, profile) added 1.4% to $17.52 in pre-market trading amid largely positive broker comment on the outlook for the Finnish handset maker.
Although Deutsche Bank cuts its recommendation on the company to hold from buy, it still expects the company to deliver a strong set of second-quarter results and to enjoy a solid 2005. The broker just believes these good earnings prospects are already reflected in the share price.
UBS however upgraded Nokia to buy from neutral, highlighting the company's focus on delivering balanced solutions in terms of features and functionality across "a simplified market segmentation strategy."
</TD></TR><TR><TD>
Mark Cotton is a reporter for MarketWatch in New York.
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