Key Pre-Market Quotes Today Include RALY, COST, BRMC, AVGO

Here's a look at some pre-market quotes how the stock market is doing this morning, earnings reports, the top stock market news, and stocks to watch based on today's pre-market quotes...

Stock Futures Today

Dow futures for Thursday, May 28, forecasted a 59-point decline from yesterday's Dow close.

On Wednesday, the Dow Jones Industrial Average Index rebounded from Tuesday's steep sell-off, pushing higher from improved economic data at home and moves by Europe to abate concerns over Greece's pending debt payment to the International Monetary Fund. The DJIA index added 121 points, while the Nasdaq gained 73 points.

Top News in the Stock Market Today

• The Stock Market Today: Today, investors will keep their focus on U.S. crude oil inventory levels, as the Energy Information Administration (EIA) will announce data from last week. Oil stockpiles have declined for three straight weeks, even though production levels remain very high. In addition, all eyes turn back to weekly jobless claims, reported at 8:30 a.m. Claims continue to hover near a 15-year low.
• All Spin, No Deal: Reuters reports that yesterday's optimism over a potential debt deal in Greece in the coming weeks were overblown. Despite a higher Euro and falling bond yields, nothing actually changed yesterday to the nation's ongoing debt problems.
• Earnings Reports: Companies reporting earnings this morning include Abercrombie & Fitch Co. (NYSE: ANF), Express Inc. (NYSE: EXPR), GameStop Corp. (NYSE: GME), Golar LNG Ltd (USA) (Nasdaq: GLNG), JinkoSolar Holding Co. Ltd. (NYSE: JKS), and Seadrill Ltd. (NYSE: SDRL).
• Oil Prices Today: Oil prices were flat this morning, ahead of the U.S. inventory report. WTI crude futures for July slipped 0.3% this morning to hit $57.50 per barrel. Meanwhile, Brent oil gained 0.4% to hit $62.29 per barrel.

Pre-Market Movers in the Stock Market Today: RALY, CA, BRCM, AVGO

• Pre-Market Movers 1, RALY: Shares of Rally Software Development Corp. (Nasdaq: RALY) surged more than 43.6% yesterday on news that the company will be purchased by CA Inc. (Nasdaq: CA) for $480 million. The deal allows CA to boost its project management offering in the cloud.
• Pre-Market Movers 2, COST: Shares of Costco Wholesale Corp. (Nasdaq: COST) slipped 2.2% after the company reported third-quarter per-share earnings of $1.17 a share on revenue of $26.1 billion. That's a boost from per-share earnings of $1.07 on revenue of $25.79 billion during the same period last year. The company said it continues to see stronger revenues due to falling gasoline prices, consistent membership fees, and stronger same-store sales.
• Pre-Market Movers 3, BRCM: Shares of Broadcom Corp. (Nasdaq: BRCM) jumped 21.8% yesterday on news that the chipmaker will be purchased by Avago Technologies Ltd.s (Nasdaq: AVGO). Broadcom is one of the largest semiconductor firms in the world, with a market cap north of $31 billion and clients that include Amazon.com Inc. (Nasdaq: AMZN), Google Inc. (Nasdaq: GOOG, GOOGL) and Samsung Electronics Co. Ltd. (OTC: SSNLF). This is just the latest deal in a rapidly consolidating semiconductor sector.

Stocks to Watch Today: MCD, NKE, AMZN

• Stocks to Watch No. 1,  MCD: Shares of McDonald's Corp. (NYSE: MCD) were in focus after the company announced plans to stop reporting monthly sales data. The company has already been reeling from controversy involving its meat suppliers in Asia, while its share price has tumbled due to economic woes in Europe and changing dietary demands of U.S. customers.
• Stocks to Watch No. 2, NKE: McDonald's is one company that has raised concerns over the U.S. Department of Justice's probe into alleged corruption by FIFA officials. McDonald's was a FIFA World Cup Sponsor for the 2014 FIFA World Cup. The scandal has also put athletic sportswear giant Nike Inc. (NYSE: NKE) under the spotlight. Shares slipped after a report alleged the firm could be "Sportswear Company A" named in the federal indictment.
• Stocks to Watch No. 3, AMZN: Shares of Amazon jumped 1.4% yesterday as the e-tailer announced plans to provide free same-day delivery in 14 U.S. cities through its Amazon Prime membership. Although not every product will be provided for same-day delivery, the news is a massive advantage and expansion from its previous two-day offering.

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• Stocks to Watch No. 4, YHOO: Yahoo stock slipped after Evercore ISI analysts downgraded the stock's target price from $55 to $48. The investment firm raised new concerns after the Internal Revenue Service said last week that companies like Yahoo may face stricter rules involving tax-free spinoffs. The company is looking to conduct such a spin-off with its stake in Alibaba Holding Group Ltd. (NYSE: BABA).

Today's U.S. Economic Calendar (all times EST)

• San Francisco Federal Reserve Bank President John Williams speaks at 2:20 a.m.
• Jobless Claims at 8:30 a.m.
• Bloomberg Consumer Comfort Index at 9:45 a.m.
• Pending Home Sales Index at 10 a.m.
• EIA Natural Gas Report at 10:30 a.m.
• EIA Petroleum Status Report at 11 a.m.
• 3-Month Bill Announcement at 11 a.m.
• 6-Month Bill Announcement at 11 a.m.
• 7-Year Note Auction at 1 p.m.
• Minneapolis Federal Reserve Bank President Narayana Kocherlakota Speaks at 2:45 p.m.
• Farm Prices at 3 p.m.
• Fed Balance Sheet at 4:30 p.m.
• Money Supply at 4:30 p.m.

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