A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures remained range bound on Friday, ahead of the government's monthly employment report. Futures for the Dow Jones Industrial Average fell 11 points to 10,298. S&P 500 futures gained 0.4 points to 1,090, while Nasdaq 100 index futures rose 2.75 to 1,840.
A Peek Into Global Markets
Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has advanced 1.10%, London’s FTSE 100 Index moved up 1.07%.
Most of the Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 0.57%, Australia's S&P/ASX 200 moving up 0.32% and China's Shanghai Composite losing 0.02%.
Broker Recommendation
Oppenheimer & Co. is raising its price target on Informatica Corporation (NASDAQ: INFA) to $36 after meeting with management.
In a note to clients, Oppenheimer writes, "We came away from recent management meetings believing demand for INFA's expanding offering remains robust as INFA is in the middle of a rapidly expanding market. While the macro environment is choppy, we believe as IT organizations move from the status quo (hand coding) to over-arching data strategies that can reduce costs and drive sales, INFA is well positioned to sustain double-digit license growth (15-20%) for the next several years as it adds new customers and gains wallet share with existing users."
It went on to say, "Additionally, improving business trends (pipelines building, close rates improving, etc.), a promising product cycle and solid track record of execution lead us to increase our estimates and PT to $36 from $32."
Shares of INFA closed at 74 cents yesterday to close at $33.79.
Breaking news
- Campbell Soup Company (NYSE: CPB) today reported its fiscal 2010 results. To read the full news, click here.
- Tractor Supply Company (Nasdaq: TSCO), the largest retail farm and ranch store chain in the United States, today announced that it has completed distribution of a two-for-one split of the Company's common stock. To read the full news, click here.
- SouthWest Water Company (Nasdaq: SWWC) today announced that it has received approval for its proposed merger from the California Public Utilities Commission, a required condition to closing. To read the full news, click here.
- Emerson Electric Co (NYSE: EMR) said on Friday that it has acquired Chloride Group PLC (OTC: CDGPY). To read the full news, click here.
Read more from Benzinga's Markets.
