US stocks are poised to head lower on Wednesday. On the news front, there is still a buzz around news from sportswear giant Nike Inc (NYSE:NKE).
Its shares are up 0.063% to US$79.65 as the controversy surrounding the ad campaign with NFL star Colin Kaepernick keeps getting air time.
But the exposure is probably all good for the brand, say experts.
In less than 24 hours since Kaepernick first revealed the spot on socila media site Twitter (NASDAQ:TWTR), Nike received more than US$43mln worth of media exposure, the vast majority of it neutral to positive, reckons to Apex Marketing Group.
In other pre-market news, Japanese car giant Toyota has announced it planned to recall over 1mln vehicles, including it hybrid Prius model, in Japan, North America, Europe and other regions.
It is due to a wiring issue, which affects cars produced in Japan between June 2015 and May this year, and includes the plug-in version of the Prius and the C-HR compact crossover SUV, it was revealed.
Also, piquing interest on Wednesday is food manufacturing giant Kellogg Company (NYSE:K), whose shares nudged 0.17% higher before the bell.
It comes as another 30 people are now reportedly ill after a salmonella outbreak linked to Kellogg's Honey Smacks cereal, according to the Centers for Disease Control and Prevention.
So far, there have been 130 cases in 36 states since the outbreak was announced earlier this summer.
Elsewhere, and following on from the Nike story, Caleres Inc (NYSE:CAL) shares shed over 9.6% to US$36.48 after the footwear company missed on earnings and revenue for its most recent quarter.
It unveiled earnings per share (EPS) of US$0.59 and revenue of US$707mln.
Wall Street had expected EPS of US$0.60 and revenue of US$709mln.
The company also reported a lower-than-expected increase in comparable sales for one of its brands Famous Footwear.