US STOCKS-Futures down on Alcoa revenue miss, Japan crisis

* Alcoa Q1 profit tops estimates but revenue misses

* Japan raises nuclear crisis level to same as Chernobyl

* Futures down: S&P 6.8 pts, Dow 48 pts, Nasdaq 10 pts

* For up-to-the-minute market news see [STXNEWS/US]

NEW YORK, April 12 (Reuters) – U.S. stocks index futures
fell on Tuesday in the wake of a disappointing revenue miss
from Alcoa and Japan’s upgrade of the severity of its nuclear

* Investors were cautious after Japan raised the severity
of the Fukushima nuclear power plant accident to the highest
level on the International Nuclear and Radiological Event
Scale, putting it on par with the Chernobyl 1986 disaster. For
details, see [ID:nL3E7FB2TZ]

* Earnings news will be another focus after Alcoa Inc
(AA.N: Quote, Profile, Research) reported revenue that missed forecasts after the bell on
Monday, sending its shares lower in post-market trade, despite
reporting a first-quarter profit above expectations.

* Elsewhere, Chevron Corp (CVX.N: Quote, Profile, Research), the second-largest U.S.
oil company, said first-quarter exploration and production
earnings would be higher than in the previous quarter.

* Brent crude futures pushed up to around $124.50 a barrel
on Tuesday, edging up from a sharp fall, as the International
Energy Agency issued a fresh warning that high prices could
erode demand.

* S&P 500 futures (SPc1: Quote, Profile, Research) fell 6.8 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: Quote, Profile, Research) lost 48
points and Nasdaq 100 futures (NDc1: Quote, Profile, Research) shed 10 points.

* In economic news, international trade, and import and
export prices data are due at 8:30 a.m. ET.

* Looking at merger and acquisition news, two sources
familiar with the matter told Reuters that Hewlett-Packard Co
(HPQ.N: Quote, Profile, Research) had considered buying business software company Tibco
Software Inc (TIBX.O: Quote, Profile, Research) until two weeks ago when talks fizzled.

* A former private equity executive was sentenced to 13
years and four months in prison for his role in a real estate
investment fraud that federal authorities have called a $255
million Ponzi scheme targeting Orthodox Jews [ID:nN11118548]

* The Wall Street Journal reported that the Bank of America
Corp’s (BAC.N: Quote, Profile, Research) internal auditors are reviewing why its chief
financial officer and chief accounting officer were not
consulted before the bank disclosed to investors that its
dividend increase had been rejected by regulators.

* U.S. stocks mostly fell on Monday, with energy shares
selling off on lower oil prices and concerns that company
outlooks may fall short of expectations. [ID:nN11111495]

(Reporting by Angela Moon, Editing by Chizu Nomiyama)

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US STOCKS-Futures down on Alcoa revenue miss, Japan crisis