A Peek Into The Market Before The Opening Bell
Pre-open movers
US stock futures seesawed today after weak retail sales data for June pulled down consumer shares. While futures on the Dow Jones Industrial Average lost less than 0.1% to 10,279, those on the S&P 500 slipped 0.2% to 1,087.5. Futures on the technology-laden Nasdaq 100 moved up 0.2% to 1,845.5.
A Peek Into Global Markets
All European bourses were in the red, as auto stocks ran out of steam today. While STOXX Europe 600 Index lost 0.68%, London’s FTSE 100 Index slipped 0.87%.
Most Asian stock markets finished in the positive territory, driven by impressive results by Intel (NASDAQ: INTC). While Japan's Nikkei Stock Average gained 2.71%, Australia's S&P/ASX 200 added 1.76%. China's Shanghai Composite was moved up 0.82%.
Broker Recommendation
Analysts at Citigroup initiated coverage of Centene (NYSE: CNC) with a "buy" rating. The target price for CNC is set to $27. According to the investment firm, “A significant portion of Centene’s revenue was up for bid in the first half of 2010, but the next six months look better, as none of the company’s existing contracts are up for renewal, and Centene has an opportunity to expand its business through the Illinois ABD RFP, among others. Centene is also likely to compete for the New Mexico behavioral health RFP, although the likelihood of success for this opportunity isn’t as great.”
Breaking news
- KLA-Tencor Corp. (NASDAQ: KLAC) said that its board of directors has authorized an increase of the level of the company's quarterly dividend from $0.15 to $0.25 per share.To read the full story, click here.
- The Enterprise Mobility Solutions business of Motorola, Inc. (NYSE: MOT) and ExtenData, a leading provider of mobility applications, today announced that Foster Farms Dairy has selected their Direct Store Delivery (DSD) solution to improve operations and increase productivity across its delivery routes. To read the full story, click here.
- L-3 Communications Holdings, Inc. (NYSE: LLL) announced today that its board of directors has authorized a new share repurchase program allowing the company to repurchase up to an additional $1 billion of the company’s common stock through December 31, 2012. To read the full news, click here.
- CNBC's David Faber says the interest from private-equity in Radio Shack (NYSE: RSH) has slowed. An insider told David Faber that there is no imminent deal for Radio Shack. To read the full news, click here.
Read more from Benzinga's Markets.
