Another tech hang-up looms

NEW YORK (CNNMoney.com) -- New concerns about technology stocks could plague the Nasdaq when trading begins Tuesday, while the broader market is seen opening flat.

At 8:05 a.m. ET, Nasdaq futures were lower. S&P futures were also down, but pointed to a flat open after fair value was calculated.

The tech sector could be hit by a lower revenue warning at telecom equipment maker Alcatel-Lucent (Charts) early Tuesday. Shares of Alcatel-Lucent lost more than 10 percent in Paris trading on the news, and other stocks in the sector also were lower. Cisco Systems (Charts) was down more than 1 percent in heavy Frankfurt trading.

There was also lower-than-hoped-for first quarter guidance from chipmaker Texas Instruments (Charts), even though it saw its own shares gain nearly 3 percent in after-hours trading Monday after the company reported fourth quarter results that beat forecasts and said it would trim jobs.

David Kelly, economic adviser at Putnam Investments, said stock investors are not showing a lot of faith in the markets right now, and that anything less than very good news seems to be causing some pullback.

"I think the overall tone of the market is a little puzzling," he said. "If you look at the economic fundamentals over the last few weeks, nothing's particularly wrong with the fundamentals here."

Oil was higher. U.S. light crude rose 77 cents to $53.35 a barrel in electronic trading.

Treasury prices were flat. The 10-year note yield held at around 4.75 percent.

In deal news, Equity Office Properties Trust (Charts), which agreed to be bought by private equity firm Blackstone Group in November, said late Monday its board agreed to meet with a Vornado Realty Trust (Charts) investor group that submitted a rival bid last week.

Clothing retailer Gap (Charts) announced CEO Paul Pressler was forced out after it reported a continued slide in sales. The company chairman will serve as interim CEO while Gap searches for a permanent replacement.

Chemical maker DuPont (Charts), a Dow Jones industrial average stock, posted higher earnings in line with estimates, while another Dow component, diversified manufacturer United Technologies (Charts), saw higher earnings slightly ahead of forecasts.

The Wall Street Journal reported that General Motors (Charts), Ford Motor (Charts) and DaimlerChrysler's (Charts) Chrysler unit are in talks with the United Auto Workers union to shift responsibility for future retiree health care costs to trust funds that would be controlled by the union but funded by the automakers.

Such a move could remove much of the cost disadvantage that the Detroit automkers face in competing with non-union automakers such as Toyota Motor (Charts) and Honda Motor (Charts).

The Journal also reported Tuesday that No. 1 retailer Wal-Mart Stores (Charts) will move to tailor its merchandise to the taste of each store's clientele. Among the moves planned, it will stop selling cut fabric in some of its stores in favor of offering crafts and party-planning supplies.

Major markets in Asia closed mostly lower on tech concerns, while the major indexes in Europe were also down in early trading. The dollar was lower against the euro and yen.

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