A Peek Into The Market Before The Trading Starts

US stock futures are lower, this morning amid concern China is likely to lift interest rates to control inflation. Futures for the Dow Jones Industrial Average dropped 66 points to 11,176.00, while futures for the S&P 500 index declined 8.80 points to 1,202.30. Futures for the Nasdaq 100 moved down 16.75 to 2,155.75.

Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.69%, London's FTSE 100 Index moved down 0.25%. Asian markets ended in the negative territory, with Japan's Nikkei Stock Average losing 1.39%, Australia's S&P/ASX 200 moving down 0.66% and China's Shanghai Composite falling 5.15%.

Hapoalim Securities is maintaining its Hold rating and $14 price target on SunPower Corporation

after it reported earnings that beat estimates. In a note to clients, Hapoalim writes, "SunPower reported 3Q10 operating results that exceeded our expectations as upside to both revenue and gross margins helped power non-GAAP EPS (x-1x items) of $0.26, ahead of our above consensus $0.14 estimate. However, we believe part of the 3Q upside was driven by a pull forward of revenue from 4Q10 as management lowered the high-end of 4Q10 guidance and only slightly raised the low-end of 2010 revenue and EPS guidance. Both Montalto 44 and CA Valley Ranch are progressing on plan, and we expect SPWRA's analyst day on Nov. 18 for 2011 guidance to be a key catalyst for the stock. While we tweak our 2011 estimates for the time being, we maintain our Hold rating and $14 price target." Shares of SPWRA lost 2 cents yesterday to close at $14.11.

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