A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures are lower this morning. Alcoa Inc (NYSE: AA) is all set to report its quarterly results after the closing bell today. Futures on the Dow Jones Industrial Average dropped 42 points to 11,577 and S&P 500 index futures fell 6.20 points to 1,261. Nasdaq 100 futures fell 8.25 points to 2,265.
A Peek Into Global Markets
Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.62%, London's FTSE 100 Index moved down 0.39%.
Asian markets ended mixed, with Japan's Nikkei Stock Average adding 0.11%, Australia's S&P/ASX 200 moving up 0.14% and China's Shanghai Composite dropping 1.66%.
Broker Recommendation
Goldman Sachs is raising its price target on shares of Target (NYSE: TGT) to $62 from $57. It has a Buy rating on shares.
In the research note sent to clients, Goldman writes, "Apparel was the hot category this month, and men's apparel especially was a popular callout. KSS, TJX, SKS and TGT all highlighted men's apparel as a top category this month. Women's apparel performed well as well, namely dresses, which were of particular strength at ROST, TJX and JWN."
Shares of TGT are up 14 cents in pre-market trading to $55.19.
Breaking news
- Standard Microsystems Corporation (Nasdaq: SMSC) released financial results on Monday morning that beat Wall Street estimates. To read the full news, click here.
- Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR) today reported a strong finish to 2010. The Company estimates that 353 new, paid Acthar prescriptions for the treatment of multiple sclerosis were filled and shipped during the quarter, up 66% from the year ago period and up 9% from the third quarter of 2010. To read the full news, click here.
- CDC Software Corporation (NASDAQ: CDCS) today announced that it has signed a reciprocal original equipment manufacturer agreement with MIR3, Inc., a developer of real-time Intelligent Notification software. To read the full news, click here.
- Geron Corporation (Nasdaq: GERN) today announced the publication of preclinical data demonstrating that the company's telomerase inhibitor drug, imetelstat, currently in Phase 2 clinical trials, selectively targets cancer stem cells in pediatric tumors of neural origin. To read the full news, click here.
Read more from Benzinga's Markets.
