A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures were mixed, as investors are looking for a weekend G-20 nations meeting of finance ministers in South Korea. Futures on the Dow Jones Industrial Average dropped 9 points to 11,074, while S&P 500 futures rose 0.60 points to 1,176.30. Nasdaq 100 futures gained 0.50 points to 2,081.
A Peek Into Global Markets
Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.15%, London's FTSE 100 Index moved down 0.32%.
Asian markets ended mixed, with Japan's Nikkei Stock Average adding 0.54%, Australia's S&P/ASX 200 moving up 0.49% and China's Shanghai Composite losing 0.29%.
Broker Recommendation
Oppenheimer & Co. raised its price target on Amazon.com (NASDAQ: AMZN) to $186 from $162 after the internet retailer reported earnings yesterday. It has an Outperform rating on shares.
In a research note Oppenheimer writes, "Following the 3Q earnings release, we're updating our model and raising our PT to $186 from $162. Our prior 2010 estimates were stale due to a change in analyst coverage. While 3Q results were generally in line with the Street (revenue 4% ahead, segment OI 3% ahead), AMZN provided 4Q profit guidance that was 15% below the Street, reflecting continued investments in fulfillment functions and marketing. As a result, we expect a reduction in Street estimates, making our '11 estimate and price target changes an anomaly."
Shares of AMZN are down $5.16 to $159.81 in pre-market trading.
Breaking news
- KeyCorp (NYSE: KEY) reports its Q3 net income from continuing operations at $0.19 per share, versus net loss of $0.50 per share, in the year-ago period. To read the full news, click here.
- PetroVietnam, that country's state-run oil company, is reportedly considering making an offer for BP's (NYSE: BP) Vietnam assets that the British oil giant has already agreed to sell to TNK-BP. To read the full news, click here.
- Honeywell International (NYSE: HON) reports its Q3 adjusted EPS at $0.82, beating the consensus of $0.63. To read the full news, click here.
- AirTran Holdings, Inc., (NYSE: AAI), the parent company of AirTran Airways, Inc., today reported a net profit of $36.3 million or $0.22 per diluted share for the third quarter of 2010. To read the full news, click here.
Read more from Benzinga's Markets.
