Good morning from the business news desk of the Star Tribune.
Two Minnesota companies -- Arctic Cat and Deluxe -- reported earnings this morning ahead of stock trading.
Arctic Cat, a maker of snowmobiles and ATVs, said its profit amounted to 89 cents a share, below analysts' forecasts of $1.30 a share. It missed sales estimates too and executives lowered their outlook for the remainder of its current fiscal year, which has one quarter left.
Deluxe, the printer of checks and provider of other services for small businesses, had earnings per share of $1.04, beating estimates of 99 cents a share.
U.S. stock futures indicate a lower opening this morning after stocks in both Asia and Europe fell overnight. Target shares also look set to open on the downside following yesterday's layoff news. Best Buy shares are indicating a positive opening.
Coming at 9 a.m.: the monthly national data on existing home sales. Economists predict an increase of 0.6% in December from November.