A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures were mixed, as investors were cautious after the gains in the earlier session. Futures for the Dow Jones Industrial Average fell 2 points to 10,470, while those for the S&P 500 lost 1.30 points to 1,114.90. Futures for the Nasdaq 100 gained 0.50 points to 1,917.25.
A Peek Into Global Markets
Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.17%, London's FTSE 100 Index moved down 0.14%.
Asian markets ended mixed, with Japan's Nikkei Stock Average losing 0.24%, Australia's S&P/ASX 200 moving up 0.32% and China's Shanghai Composite gaining 0.03%.
Broker Recommendation
Oppenheimer & Co. has a Perform rating on shares of Intel (NASDAQ: INTC), after the company started its developers conference yesterday. Yesterday, Oppenheimer announced its new Sandy Bridge chip, which combines graphics and and computing power on one chip.
In the research note, Oppenheimer writes, "On day 1 of the well-attended Intel Developer's Forum (IDF) in San Francisco, presentations primarily focused on the upcoming 2nd-gen Core microarchitecture, Sandy Bridge. CEO Paul Otellini's comments focused on a transformed Intel as not just a chip company, but also a platform, software and services company. No financial updates were provided and only brief mention was made of the company's recent acquisition spree (i.e., MFE, IFX and TXN). Atom, and presumably smartphone applications, as well as software are scheduled for day 2 keynotes. We were impressed with the apparent upswing in attendance, though presentations and announcements lacked much buzz-worthy material, in our opinion."
Shares of Intel closed at $18.56 yesterday, a gain of 59 cents or 3.27%.
Breaking news
- Apollo Group, Inc. (NASDAQ: APOL) today announced a two-year partnership with Stanford University to conduct research as part of the Media X program, which studies the impact of information and technology on society. To read the full news, click here.
- PHI, Inc. (Nasdaq: PHII) announced today that it intends, subject to market and other conditions, to offer $300 million in aggregate principal amount of its senior notes due 2018 through private offerings exempt from registration under the Securities Act of 1933, as amended. To read the full news, click here.
- Wabash National Corporation (NYSE: WNC) today announced Trailer Investments LLC as Selling Securityholder, has entered into an agreement to sell 9,349,032 shares of the Company's common stock in an underwritten public offering at a price per share to the public of $6.75. To read the full news, click here.
- Best Buy Co Inc (NYSE: BBY) reports its Q2 EPS at $0.60, beating the consensus of $0.46. To read the full news, click here.
Read more from Benzinga's Markets.
