Morning Wrap Up
A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index fell 0.59%, London's FTSE 100 Index dropped 0.58%, French CAC 40 index fell 0.45% and German DAX 30 index declined 0.49%. Asian markets ended lower, with Japan's Nikkei Stock Average falling 0.22%, Chinese Shanghai Composite dropping 0.99% and Australia's S&P/ASX 200 dropping 0.53%. Hong Kong's Hang Seng index declined 1.15% and India's Sensex tumbled 1.23%.
Broker Recommendation Analysts at Jefferies downgraded Adobe Systems (NASDAQ: ADBE) from “Buy” to “Hold.” The target price for Adobe has been lowered from $38 to $32. Adobe shares gained 0.06% to close at $31.79 yesterday. Breaking news
- Teleflex (NYSE: TFX) has announced that it has been awarded an agreement for its line of central venous catheters (CVCs) with HealthTrust Purchasing Group (HealthTrust), a healthcare group purchasing organization. To read the full news, click here.
- Benchmark Electronics (NYSE: BHE) announced today that its Board of Directors approved the repurchase of up to $100 million of the Company's outstanding common shares. To read the full news, click here.
- Arkansas Best (NASDAQ: ABFS) today announced it has entered into a definitive agreement to acquire Panther Expedited Services, from Fenway Partners, a leading middle market private equity firm. To read the full newsclick here.
- Hanes Brands (NYSE: HBI) announced today that it intends to redeem in July $150 million of its Floating Rate Senior Notes due 2014 as part of plans to pay off its approximately $300 million of floating-rate bond debt in 2012. To read the full news, click here.
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