A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures are mixed this morning, as investors are awaiting data on economic growth and existing home sales. Futures on the Dow Jones Industrial Average gained 4 points to 11,475.00 and S&P 500 index futures gained 0.30 point to 1,251. Nasdaq 100 futures fell 1.50 points to 2,234.
A Peek Into Global Markets
Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has advanced 0.10%, London's FTSE 100 Index moved up 0.36%.
Asian markets ended mixed, with Japan's Nikkei Stock Average losing 0.23%, Australia's S&P/ASX 200 moving up 0.15% and China's Shanghai Composite falling 0.91%.
Broker Recommendation
Wunderlich Securities is raising its price target to $50 and is reiterating its Buy rating on shares of Bank of the Ozarks, Inc. (NASDAQ: OZRK).
In a note sent to clients, Wunderlich writes, "We reiterate our Buy rating on shares of Bank of the Ozarks (OZRK) and we are raising our price target by $5 to $50 at this time. Shares of OZRK have “only” risen 19% since August 31, slightly outpacing the average increase for banks in our research universe, and at current levels OZRK shares are approaching our previous price target of $45. We believe that Bank of the Ozarks is one of the best positioned consolidators in our universe, with abundant capital and a track record of exceeding consensus expectations. Such a profile argues for a premium valuation versus peers, and we expect OZRK's premium valuation to remain intact for the next several quarters."
Shares of OZRK gained 80 cents yesterday to close at $44.16, a gain of 1.85%.
Breaking news
- Williams-Sonoma, Inc. (NYSE: WSM) today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share. To read the full news, click here.
- AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that Dr. Rob J. Routs, a former executive and board member of Royal Dutch Shell plc, has joined its Board of Directors. To read the full news, click here.
- Teradata Corporation (NYSE: TDC) today announced the signing of a definitive agreement to acquire Aprimo for approximately $525 million including the assumption of approximately $25 million of cash at closing, subject to adjustment. To read the full news, click here.
- Walgreen (NYSE: WAG) reports its Q1 EPS at $0.62, beating the consensus of $0.54. To read the full news, click here.
Read more from Benzinga's Markets.
