A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures are slightly higher, this morning as investors are awaiting the data on retail sales. Futures on the Dow Jones Industrial Average rose 10 points to 11,162.00, while S&P 500 futures gained up 2 points to 1,197.00. Nasdaq 100 futures moved up 7.75 points to 2,141.50.
A Peek Into Global Markets
Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has gained 0.20%, London's FTSE 100 Index moved up 0.13%.
Asian markets ended mixed, with Japan's Nikkei Stock Average adding 1.06%, Australia's S&P/ASX 200 moving down 0.11% and China's Shanghai Composite gaining 0.97%.
Broker Recommendation
Deutsche Bank is lowering its price target on Cisco Systems, Inc. (NASDAQ: CSCO), and is downgrading the stock as well, based off poor earnings guidance.
In a research report sent to investors, Deutsche Bank writes, "Cisco reported Q1 revenues of $10.75b; in-line with our estimate and consensus. PF EPS of $0.42 met our estimate and beat consensus of $0.40. However, citing
pockets of weakness, management guided below expectations. While we still believe the company has a strong technology roadmap, we are concerned about near-term stability and are lowering our rating to hold. Lowering PT from $28 to $22."
Shares of CSCO lost 37 cents on Friday to close at $20.15, a loss of 1.8%.
Breaking news
- China Sunergy Co., Ltd. (Nasdaq: CSUN) on Monday morning released financial results that beat Wall Street earnings expectations, while just missing revenue estimates. To read the full news, click here.
- Amtech Systems, Inc. (Nasdaq: ASYS) released financial results on Monday morning that easily beat Wall Street estimates. To read the full news, click here.
- China Ritar Power Corp. (Nasdaq: CRTP) on Monday morning released financial results that missed Wall Street expectations. To read the full news, click here.
- Longtop Financial Technologies (NYSE: LFT) released financial results that beat Wall Street estimates. To read the full news, click here.
Read more from Benzinga's Markets.
