(Updates throughout)
* Futures fall on renewed fears on bank write-downs
* Results from Research in Motion, Nike disappoint
* Jobless claims, existing-home sales on tap
By Richard Leong
NEW YORK, June 26 (Reuters) - U.S. stock futures fell
sharply on Thursday, prompted by renewed write-down worries in
the banking sector and disappointing financial results from
footwear maker NIKE Inc, tech leader Research In Motion and
other companies.
Stocks were poised to open lower following gains on
Wednesday on the Federal Reserve's decision to leave its
benchmark interest rates unchanged. Investors also viewed the
Fed's comments as lessening the chances for a rate hike in
August.
Shares of Citigroup <C.N> and Merrill Lynch & Co. <MER.N>
fell before the opening bell after Goldman Sachs forecast more
second-quarter write-downs for the two financial companies as
well downgraded their stock ratings.
"We have some pretty negative news this morning in the
financial and technology sectors," said Paul Mendelsohn, chief
investment strategist at Windham Financial Services in
Charlotte, Vermont. "It's really showing how treacherous the
market is."
S&P 500 futures <SPc1> were down 11.80 points, below fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.
Dow Jones industrial average futures <DJc1> were down 99
points, and Nasdaq 100 <NDc1> futures fell 22.25 points
lower.
In Europe, stocks were down 1.3 percent, led by a sell-off
in banks, while in Asia stocks ended modestly lower.
Goldman also added General Motors Corp <GM.N> to its
Americas sell list and cuts its price target.
Belgian-Dutch financial services group Fortis <FOR.AS>
<FOR.BR> said it plans to shore up its capital by raising more
than 8 billion euros ($12.54 billion).
BlackBerry maker Research In Motion's <RIM.TO> <RIMM.O>
stock lost as much as 8 percent in after-hours trading on
Wednesday after its profit outlook fell short of market
expectations.
Oracle Corp. <ORCL.O> was another drag on the tech sector.
The world's No. 3 software company recorded quarterly earnings
that exceeded forecasts but offered a cautious outlook.
Shares of NIKE <NKE.N>, the world's biggest athletic shoe
and clothes maker, slipped 5 percent on weak orders in the
United States.
On the deal front, Anheuser-Busch Cos Inc. <BUD.N> plans to
reject InBev NV's <INTB.BR> unsolicited $46.3 billion takeover
offer, saying it undervalues the company, a source familiar
with the situation told Reuters.
The government will release its weekly reading on jobless
claims and a final revision on first-quarter gross domestic
products at 8:30 a.m. (1230 GMT). []
There will be also be more data on housing, which the Fed
has cited as a lingering risk to the economy. The National
Association of Realtors will report at 10:00 a.m. (1400 GMT)
its May figures on home resales following data that showed a
2.5 percent decline in new home sales in May.
U.S. stocks rose on Wednesday after the Fed's rate decision
and a drop in oil prices.
(Editing by Kenneth Barry)
