A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures declined today, as the investors are awaiting data on September US durable-goods and September new home sales. Futures on the Dow Jones Industrial Average fell 34 points to 11,090.00, while S&P 500 futures dropped 5.20 points to 1,177.60. Nasdaq 100 futures moved down 5.50 points to 2,110.50.
A Peek Into Global Markets
European markets were mixed today. While STOXX Europe 600 Index has gained 0.04%, London's FTSE 100 Index moved down 0.42%.
Most of the Asian markets ended in the negative territory, with Japan's Nikkei Stock Average adding 0.10%, Australia's S&P/ASX 200 moving down 0.86% and China's Shanghai Composite losing 1.47%.
Broker Recommendation
Goldman Sachs has published a research report on athenahealth, Inc. (NASDAQ: ATHN) following the company's reporting of 3Q earnings results.
In the report, Goldman Sachs writes "athenahealth delivered solid 3Q results; driving cost improvements (notably cost of sales and G&A) while tracking well on revenues. In our view, the strong positive stock reaction (+23% on Friday's session) was a result of a highly binary investor setup as well as 30% short interest. In our opinion, ATHN's 3Q further demonstrated management's ability to drive cost improvements and enhance earnings quality. However, we remain focused on the decelerating trends in athenaCollector physician adds. athenaCollector represents around 90% of revenues, and we believe there will need to be an improvement in the 15.5% YoY growth in athenaCollector physician adds in order for management to achieve their stated long-term revenue growth target of 30%+."
Goldman Sachs maintains its Neutral rating and has raised the price target from $29 to $41.
athenahealth, Inc. closed yesterday at $38.55.
Breaking news
- Whirlpool Corp (NYSE: WHR) reports its Q3 adjusted EPS at $2.22, surpassing the consensus of $1.78. To read the full news, click here.
- Amerigon Inc (NASDAQ: ARGN) reports its Q3 EPS at $0.12, beating the consensus of $0.10. To read the full news, click here.
- CommScope, Inc. (NYSE: CTV) has entered into a definitive merger agreement with global alternative asset manager The Carlyle Group in a transaction valued at approximately $3.9 billion that will result in CommScope becoming a private company. To read the full news, click here.
- General Dynamics (NYSE: GD) today reported third-quarter 2010 earnings from continuing operations of $649 million, or $1.70 per share on a fully diluted basis, compared to 2009 third-quarter earnings from continuing operations of $575 million, or $1.48 per share fully diluted. To read the full news, click here.
Read more from Benzinga's Markets.
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