A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures moved up as investors are awaiting earnings reports from several companies. Futures for the Dow Jones Industrial Average gained 18 points to 11,090.00, while those for the S&P 500 index moved up 2.40 points to 1,181.20. Nasdaq 100 futures rose 3.75 points to 2,127.50.
A Peek Into Global Markets
Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has advanced 0.58%, London's FTSE 100 Index moved up 0.74%.
Asian markets ended mixed, with Japan's Nikkei Stock Average losing 0.22%, Australia's S&P/ASX 200 moving up 0.68% and China's Shanghai Composite losing 0.15%.
Broker Recommendation
Deutsche Bank raised its price target on Praxair, Inc. (NYSE: PX) to $100 from $95 after it reported earnings that were better than expected. It has a Buy rating on shares.
In a note to clients, Deutsche Bank writes, "Despite a moderating pace of sequential growth, Praxair continues to see steady improvement in all geographic regions as underlying base business (chemicals, metals, manufacturing) demand trends have more than offset the loss of inventory restocking activity. While electronics (flat panel) growth is slowing and several end-markets are likely to be down seasonally in Q4, with customer outages in the US, Europe, and China not repeating and tight inventories supporting healthy steel and chemicals demand, we expect modest sequential volume growth to continue."
Shares of PX lost $2.99 yesterday to close at $90.51, a loss of 3.2%.
Breaking news
- Omnicare, Inc. (NYSE: OCR) reported today financial results for its third quarter ended September 30, 2010. To read the full news, click here.
- ArthroCare Corp. (NASDAQ: ARTC) announced today that it has received clearance from the U.S. Food and Drug Administration (FDA) for its Spartan PEEK Suture Implant system. To read the full news, click here.
- Build-A-Bear Workshop, Inc. (NYSE: BBW) today reported results for the 2010 third quarter and first nine months ended October 2, 2010. To read the full news, click here.
- Coca-Cola Enterprises (NYSE: CCE) today reported third-quarter 2010 net income of $208 million. On a pro forma basis including results from Norway and Sweden, third-quarter 2010 earnings per diluted common share were 58 cents. To read the full news, click here.
Read more from Benzinga's Markets.
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