Morning News: Yahoo, Micron Technology, Walgreen, Carlyle Group

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Stocks that are expected to trade actively in the U.S. market on Tuesday include: Yahoo! Inc. (NASDAQ:YHOO), Micron Technology, Inc. (NASDAQ:MU), Walgreen Company (NYSE:WAG), Neurocrine Biosciences, Inc. (NASDAQ:NBIX), The Carlyle Group LP (NASDAQ:CG).

Market Level

U.S.: Dow 16,425.10 (-0.27%), S&P 500 1826.77 (-0.25%), NASDAQ 4113.68 (-0.44%)

Europe: FTSE 6757.05 (0.39%), DAX 9479.25 (0.54%), CAC 40 4240.99 (0.32%)

Asia Pacific: NIKKEI 15814.37 (-0.59%), HANG SENG 22712.78 (0.13%), SHANGHAI 2047.32 (-0.08%), KOSPI 1959.44 (0.32%)

Commodities: Oil 93.90 (0.50%), NAT GAS 4.332 (0.60%), Gold 1238.80 (0.06%), Silver 20.07 (-0.16%), Wheat 603.75 (-0.33%), Corn 427.25 (-0.21%).

Currency: EUR/USD 1.3635 (0.07%), GBP/USD 1.6420 (0.04%), USD/JPY 104.42 (0.20%).

10 year Treasury bond: 2.965 (0.003).

Economic and market update

U.S. market down – Stocks on the U.S. indexes tumbled on Monday after mixed economic reports that reflected the decline in growth of the service sector and a surge in new orders for factory goods. The Dow Jones industrial average declined 44.89 points or 0.27%, to close at 16,425.10. The S&P 500 tumbled 4.60 points or 0.25%, to finish at 1,826.77. The Nasdaq Composite declined 18.226 points or 0.44%, to close at 4,113.681.

European markets stable – European stocks were close to their five and a half year highs on Tuesday with Scandinavia witnessing a surge after much of the region was closed on Monday.  At 0831 GMT, the pan-European FTSEurofirst 300 was flat at 1,309.03, 0.6% below its highest point since mid-2008.

Asian markets down – Stocks on Japan’s Nikkei index tumbled on Tuesday following the weak growth data in the United States service sector, which made investors cautious. The Nikkei declined 0.6% to close at 15,814.37. The Hang Seng benchmark surged 0.1% at 22,712.8 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong dropped 0.5%.

Stocks to Watch

Yahoo! Inc. (NASDAQ:YHOO)

Shares of Yahoo are expected to remain volatile following the keynote address expected on Tuesday by Chief Executive Marissa Meyer at the Consumer Electronics Show (CES) in Las Vegas. Recently, the company said that some advertisements on Yahoo’s European website spread malicious software which affected thousands of users.

Micron Technology, Inc. (NASDAQ:MU)

Micron Technology is expected to post first quarter results of 44 cents per share on revenue of $3.72 billion. The shares surged close to 200% over the past 12 months. Analysts are anticipating that the company would retain its profitability in the first quarter. Revenue has surged for three quarters in a row.

Walgreen Company (NYSE:WAG)

Walgreen revealed that same store traffic declined in December after a surge of two months.  Overall same store sales increased 6.1%, which is the highest since September, despite the front-end under performance. Shares of the company surged 1.6% at $57.75 premarket.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Stocks of Neurocrine Biosciences increased 60% after the company reported that the treatment for involuntary facial movements is gradually showing some results. The data from the study will enable the company to submit “End of Phase II” meeting request, as well as finalize the initial draft for Phase III

The Carlyle Group LP (NASDAQ:CG)

The Carlyle Group stocks are expected to be volatile as the company appointed former Federal Communications Commission Chairman Julius Genachowski as the managing director and partner in its U.S. buyout team. Previously, Genachowski worked as a venture capitalist in the private sector.

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