Pre Market

Thursday, March 27, 2008

Futures point to a lower open with the Nasdaq set to underperform. Traders have been disappointed with Oracle's (ORCL) fiscal third quarter revenue, which is fueling selling pressure in the Nasdaq. Oppenheimer cut its first quarter earnings estimates on UBS (UBS) and Merrill Lynch (MER). ConAgra (CAG) reported earnings of $0.63, which topped estimates by $0.22. The company also issued upside guidance for full year 2008. The final fourth quarter GDP reading and the weekly initial jobless claims are set for release at 8:30 ET.