Market Overview

A Peek Into The Market At The Start Of The Trading Day

Pre-open movers
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%.

Broker Recommendation
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.

Breaking news

  • 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.

Posted-In: News Futures Global Intraday Update Markets

 

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