Morning Market Update: March 1st, 2010: Greece, Intrepid Potash (NYSE:PIP), El Paso (NYSE:EP)
Last updated March 1, 2010: 8:30 AM ET --- U.S. stock futures are trading higher Monday on mounting hopes that European nations will announce a rescue plan for Greece, since the country needs to start rolling over a large portion of its debt soon. In corporate news, Intrepid Potash (NYSE:PIP) reported Q4 EPS of $0.09, missing consensus estimates of $0.11. Sales in the quarter fell 8.1% year-over-year to $73 million, but came in ahead of consensus estimates of $64 million. El Paso (NYSE:EP) reported Q4 EPS of $0.34, ex-items, topping consensus estimates of $0.28. Sales in the quarter fell 11.2% to $1.1 billion, and came in short of consensus estimates of $1.2 billion. The Dow Jones Industrial Average (DJI) futures are trading 4.23 points above fair value, the S&P500 (INX) futures are trading 1.56 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 4.04 points above fair value.
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