However, the company emphasized the positive, saying they saw signs of improvement in occupany and rates. Remember, they have settled a dispute over the City Center project with their Dubai World partners and it now appears the project is fully funded.
Las Vegas Sandsalso trading up in sympathy.
3) Dow component Kraft Foodstrading up 4 percent after beating estimateson improved profit margins. Effective cost controls and the realization of higher prices boosted the food maker's results and helped offset weaker demand.
In fact, while volume was down 3.7 percentage points, organic revenues grew 2.3 percent - primarily due to the 5.7 percentage point rise from more favorable pricing. The company also reaffirmed its full-year guidance to be in-line with the Street's forecast.
4) Shares of seed processor Archer Daniels Midlanddown 6 percent pre-open after its Q3 results significantly missed estimates. Revenues plunged 21 percent, as volume fell 6.2%.
5) CVS Caremarkis up 1 percent pre-open as its bottom line results beat estimatesby a penny. Top line results were propelled by strong growth in its pharmacy services unit and solid same-store sales at its retail pharmacies.
6) Sonic Automotiveup 13 percent pre-open on light volume as they announced a successful debt restructuring on 85 percent of the senior notes due in May 2009.
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