Market Overview

A Peek Into The Market Before The Trading Starts

Related ADP
UPDATE: ADP Issues Release Recommending Holders Reject TRC Capital's Below-Market Price Mini-Tender Offer
ADP Dips on Dealer Services Spin-Off Plan - Analyst Blog
Related ACTG
Acacia Research (ACTG) is Overbought, What's Next? - Tale of the Tape
Mid-Day Market Update: US Stocks Fall; Google Shares Rise After Stock Split

Pre-open movers US stock futures are slightly higher this morning, as investors are awaiting housing data. Futures for the Dow Jones Industrial Average gained 9 points to 13,498.00 and S&P 500 index futures rose 0.10 points to 1,451.50. Nasdaq 100 futures gained 2.50 points to 2,840.75.

A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index fell 0.12%, London's FTSE 100 Index dropped 0.10%, French CAC 40 Index fell 0.21% and German DAX 30 index declined 0.37%.

Asian markets ended mixed, with Japan's Nikkei Stock Average rising 0.25%, China's Shanghai Composite dropping 0.19% and Australia's S&P/ASX 200 dropping 0.31%. Hong Kong's Hang Seng Index rose 0.02% and India's Sensex gained 0.11%.

Broker Recommendation Analysts at UBS downgraded Automatic Data Processing (NASDAQ: ADP) from “buy” to “neutral.” The target price for Automatic Data Processing has been lowered from $64 to $59.

Automatic Data Processing shares dropped 0.61% to $58.50 in pre-market trading.

Breaking news

  • Acacia Research (NASDAQ: ACTG) announced today that its Advanced Data Access LLC subsidiary has entered into a settlement agreement with Panasonic (NYSE: PC). To read the full news, click here.
  • C.H. Robinson Worldwide (NASDAQ: CHRW), today announced that it has reached a stock purchase agreement to acquire Phoenix International for $571.5 million in cash and approximately $63.5 million in newly-issued C.H. Robinson stock. To read the full news, click here.
  • Coldwater Creek (NASDAQ: CWTR) today announced that its board of directors has approved a 1-for-4 reverse stock split of its common stock. To read the full news, click here.
  • TPC Group (NASDAQ: TPCG) today announced that it has received early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to its proposed sale to affiliates of investment funds sponsored by First Reserve Corporation and SK Capital Partners. To read the full news, click here.

Posted-In: UBS US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

Most Popular

Related Articles (ACTG + ADP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free