A Peek Into The Market At The Start Of The Trading Day
US stock futures fell today, as traders await the release of key US manufacturing data. Investor concerns over global economic recovery were rekindled after a similar data from China disappointed.
A Peek Into Global Markets
European markets have opened to the negative territory, as investor get jittery on weak Chinese data. While STOXX Europe 600 Index lost 0.93%, London’s FTSE 100 Index has moved down 0.71%.
Markets across Asia ended in the red, as manufacturing data from China and India showed a slowdown. While Japan's Nikkei Stock Average lost 2.04%, Australia's S&P/ASX 200 slipped 1.44% and China's Shanghai Composite fell 1.03%.
Amid estimates of "no growth in FY11 and higher regulatory risk," Deutsche Bank lowered its price target on shares of Apollo Group (NASDAQ: APOL) to $75 from $80 this morning. Deutsche Bank, which maintained its “buy” rating on Apollo, continued to find the stock "attractive." To read the full news, click here.
- Hawaiian Holdings (Nasdaq: HA), the parent company of Hawaiian Airlines, announced today that its Board of Directors has authorized a stock repurchase program under which the company may purchase up to $10 million of its outstanding common stock. To read the full news, click here.
- Isle of Capri Casinos (NASDAQ: ISLE) announced today that it is delaying its offering of 9 million common shares. To read the full news, click here.
- Constellation Brands Inc (NYSE: STZ), the world's leading wine company, reported better-than-expected earnings for the first quarter. The company has also raised its full-year forecast. To read the full news, click here.
- Hospira, Inc (NYSE: HSP), a global specialty pharmaceutical and medication delivery company, today announced the successful completion of the tender offer by Discus Acquisition Corporation, a wholly owned Hospira subsidiary, to purchase all outstanding shares of the common stock of Javelin Pharmaceuticals, Inc. (Amex: JAV). To read the full news, click here.
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