A Peek Into The Market Before The Trading Starts
Pre-open movers US stock futures are lower this morning, ahead of existing home sales. Futures for the Dow Jones Industrial Average dipped 172 points to 11,595.00 and S&P 500 index futures fell 20.90 points to 1,193.00. Nasdaq 100 futures dropped 26.50 points to 2,223.25.
A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index declined 2.45%, London's FTSE 100 Index moved down 2.06%, French CAC 40 index fell 2.70% and German DAX 30 index dropped 2.64%.
Asian markets ended lower, with Japan's Nikkei Stock Average dropping 0.3181%, Australia's S&P/ASX 200 moving down 0.31% and China's Shanghai Composite declining 0.06%. Hong Kong's Hang Seng Index fell 1.4352% and India's Sensex dropped 2.60%.
Broker Recommendation Analysts at Collins Stewart upgraded Morgan Stanley (NYSE: MS) from “hold” to “buy.” The target price for Morgan Stanley is set to $21.
Morgan Stanley shares gained 0.57% to close at $14.21 on Friday.
Breaking news
- Transition Therapeutics (NASDAQ: TTHI) today announced that it has entered into agreements to issue 3,703,703 common shares at a price of US$1.35 per share for gross proceeds of approximately US$5 million, by way of a non-brokered private placement. To read the full news, click here.
- Health Management Associates Inc (NYSE: HMA) announced today that it entered into new credit facilities, including a $500 million senior secured revolving credit facility, a $725 million senior secured term loan A with a five year term and a $1.4 billion senior secured term loan B with a seven year term. To read the full news, click here.
- Expedia, Inc. (NASDAQ: EXPE) and Renren Inc (NYSE: RENN) jointly announced today that Renren has sold its investment in eLong Inc (NASDAQ: LONG) to Expedia for approximately $72.4 million, or $23 per ADS. To read the full news, click here.
- Tech Data Corp (NASDAQ: TECD) reported downbeat third-quarter results and issued a weak Q4 forecast. To read the full news, click here.
