BEFORE THE BELL: US Stock Futures Edge Higher Before Payrolls Data





U.S. stock futures edge slightly higher Friday as investors waited on the sidelines ahead of the closely watched nonfarm payrolls figures for November.

Futures on the Dow Jones Industrial Average rose 4 points to 11367 and S&P 500 futures rose 0.4 point to 1223.10. Nasdaq 100 futures were up 1 point at 2188.00.

The steady start for futures came after U.S. markets rallied for a second straight day on Thursday, as upbeat reports on retail and home sales helped the Dow Jones Industrial Average rise 106.63 points, or 1%.

Friday will serve up plenty more economic data, with November's nonfarm payrolls figures at 8:30 a.m., EST, likely to drive investor sentiment.

Analysts polled by MarketWatch are expecting payrolls to rise by about 155,000 in November. That would be a slight improvement on the 151,000 rise in October, but not enough to dent the unemployment rate, which is expected to hold steady at 9.6%.

"The markets are taking a bit of a breather ahead of nonfarm payrolls, [it's] an excuse for traders to sit on their hands today," said Manoj Ladwa, senior trader at ETX Capital.

Ladwa said there's a risk of fairly heavy market losses if the payrolls figures come in much below expectations, because the economy needs another three to four months of payrolls growth at around the 150,000 level to have an impact on the 9.6% unemployment rate.

After markets open there will be a further round of data, including ISM non-manufacturing figures for November and factory orders for October.

Crude oil and gold prices edged slightly higher as the dollar weakened.

The euro was up 0.4% at $1.3256, while the dollar fell 0.3% against the yen to Y83.64.

On the corporate front, coal producer Walter Energy Inc. (WLT) agreed to buy Canada's Western Coal Corp. (WTN.T, WTNCF) in a cash and stock deal with an enterprise value of around $3.3 billion.

Shares in Walter Energy dropped 2.5% in thin premarket trading.

Shares in Verifone systems Inc. (PAY) could rise after the company late Thursday forecast fiscal first-quarter earnings and revenue ahead of Wall Street expectations.

Retailer Big Lots Inc. (BIG) cut its outlook for the year as it reported earnings of 23 cents a share for the latest quarter--one cent below the consensus forecast.

The group said it now expects to earn between $2.75 and $2.81 a share from continuing operations for the year, having forecast in August that earnings would be between $2.82 and $2.90 a share.

European markets held fairly steady ahead of the U.S. payrolls figures while Asian markets closed mostly higher.

The U.K.'s FTSE 100 index rose 0.1% in midday trading and Japan's Nikkei 225 closed up 0.1%.



-Simon Kennedy; 44 207 842 9427; AskNewswires@dowjones.com






Among the companies whose shares are expected to actively trade in Friday's session are VeriFone Systems Inc. (PAY), CNinsure Inc. (CISG) and Yingli Green Energy Holding Co. (YGE).



VeriFone Systems swung to a fiscal fourth-quarter profit, beating its own estimates, as the online-payment company's revenue and margins improved. Shares rose 5.3% premarket to $38.69.



CNinsure, an independent insurance intermediary company operating in China, said it will be repurchasing up to $100 million of its American depositary shares by June 30. American depositary shares of the company rose 6% to $19.50 in premarket trading.



Wells Fargo raised its stock-investment rating on solar company Yingli Green Energy to outperform from market weight, as the firm said both Yingli and Trina Solar Ltd. (TSL) are defensive plays, and the two can absorb pricing pressure better than peers while gaining share profitability. American depositary shares of Yingli rose 3.9% to $10.58 premarket as Trina was recently up 1.8% to $23.11.



Coldwater Creek Inc. (CWTR) said Thursday its fiscal third-quarter loss widened after adjusting for large tax charges the prior year, as the women's retailer discounted to clear out its stores' unpopular fall inventory. The results modestly beat the company's guidance, which it slashed in October. Shares rose 1.7% to $3.50 in premarket trading.



Big Lots Inc.'s (BIG) fiscal third-quarter earnings fell 42% following a prior-year divestiture gain as the discount retailer's sales increased and operating costs climbed. Profit just missed expectations and the company, which helps manufacturers clear their warehouses of discounted and overproduced goods, cut its fourth-quarter earnings target. Shares fell 1% to $30.78 in premarket trading.



Phillips-Van Heusen Corp.'s (PVH) fiscal third-quarter profit declined 3.5% as the company reported more charges related to its $3 billion acquisition of Tommy Hilfiger, which again masked higher revenue and improved margins. Shares of the retail-apparel giant dropped 1.1% to $70.45 in premarket trading.



Walter Energy Inc. (WLT), a producer of metallurgical coal, has formally agreed to buy peer Western Coal Corp. (WTN.T, WTNCF) in a cash-and-stock deal valued at $3.3 billion, in line with its bid for the company last month. Walter shares fell 2.2% to $103.30 in premarket trading, while Western shares were recently flat.



Encompass Digital Media Inc., a U.S.-based digital media services provider, said it has agreed to acquire the global content distribution business of Ascent Media Corporation (ASCMA) for approximately $120 million. Shares of Ascent rose 6.5% to $33 premarket.



Teekay Offshore Partners LP (TOO) plans to sell at least 5.6 million units to the public, using the proceeds to buy vessels, among other uses. The Bermuda-based oil transporter has about 45 million units outstanding, and they fell 4.9% to $27.69 in premarket trading.



SPS Commerce (SPSC), a provider of on-demand supply chain management solutions, said it priced an offering of 2.9 million shares at $12.25 each, a 5.4% discount to Thursday's close. Shares fell 2.9% to $12.58 premarket.



Realty Income Corp. (O) said it plans to sell at least 5.9 million shares, using the proceeds to pay down the line of credit it uses for acquisitions. Shares of the real-estate investment trust fell 2.1% to $33.40 premarket.



Flow International Corp. (FLOW) swung to a small fiscal second-quarter loss on income-tax impacts, as revenue for the industrial water-jet maker were better than Wall Street expected. Shares still dropped 3.5% to $3.36 in very light after-hours trading.



Ulta Salon Cosmetics & Fragrance Inc.'s (ULTA) fiscal third-quarter earnings climbed 68%, as the beauty-products retailer beat its upbeat guidance across the board. Shares rose 1% to $36.09.



Avago Technologies Ltd. (AVGO) swung to a fiscal fourth-quarter profit as revenue from the company's largest businesses grew and gross margins widened, while the year-ago period was hurt by a $54 million advisory fee. Shares dropped 2.5% to $27.70 in after-hours trading even as earnings topped expectations.


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Bank of Nova Scotia (BNS) posted slightly better-than-expected fourth-quarter earnings, wrapping up what's been a mixed week for Canadian bank results.



Cascade Corp.'s (CASC) fiscal third-quarter profit surged as increased demand for forklift attachments and other products for the lift-truck industry drove higher volumes, helping sales rise from last year's poor results. Results handily topped analysts' expectations.



Dollar Financial Corp. (DLLR) agreed to acquire Sweden-based Sefina Finance AB for about $73 million in a deal that will expand its pawn lending business into Sweden and Finland.



Ecolab Inc.'s (ECL) board raised the cleaning company's quarterly dividend by 13%, marking the 19th straight year of increases as the company joins a slew of others increasing payouts to holders.



Halozyme Therapeutics Inc. (HALO) said President and Chief Executive Jonathan Lim has resigned "to pursue other opportunities." Co-founder Gregory Frost has been appointed to fill those posts at the biopharmaceutical company.



Mitel Networks Corp. (MITL) swung to a fiscal second-quarter profit, boosted by an $80 million tax allowance, as revenue fell slightly and adjusted profit fell just short of analysts' forecasts.



Novell Inc. (NOVL) swung to a dramatic fiscal fourth-quarter profit on a tax gain, while the year-ago results were stung by a steep write-down. The software company also reported lower revenue in the latest period.



WellPoint Inc. (WLP) said two executives who were involved in controversies that buffeted the insurer during the health-overhaul debate are leaving the company