Market Overview

A Peek Into The Market Before The Trading Starts

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A Peek Into The Market Before The Trading Starts
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Benzinga's Top Downgrades

Pre-open movers US stock futures are mixed this morning, after disappointing results from Apple (NASDAQ: AAPL). Futures for the Dow Jones Industrial Average gained 2 points to 13,720.00 and S&P 500 index futures fell 3.30 points to 1,487.00. Nasdaq 100 futures tumbled 37.75 points to 2,721.25.

A Peek Into Global Markets European markets were mostly lower today. The STOXX Europe 600 Index fell 0.10%, London's FTSE 100 Index gained 0.28%, German DAX 30 Index fell 0.18% and French CAC 40 Index declined 0.01%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average rising 1.28%, China's Shanghai Composite dropping 0.79% and Australia's S&P/ASX 200 Index climbing 0.45%. Hong Kong's Hang Seng Index dropped 0.15% and India's Sensex declined 0.51%.

Broker Recommendation Analysts at Jefferies downgraded Apple (NASDAQ: AAPL) from “buy” to “hold.” The target price for Apple has been lowered from $800 to $500.

Apple shares fell 9.53% to $465.00 in pre-market trading.

Breaking news

  • Stanley Black & Decker (NYSE: SWK) reported a rise in its fourth-quarter earnings. For 2013, it projects adjusted earnings of $5.40 to $5.65 per share, versus analysts' estimates of $5.69 per share. To read the full news, click here.
  • The Board of Directors of Precision Castparts (NYSE: PCP) has approved a $750 million program to repurchase shares of PCP's common stock, effective immediately and continuing through June 30, 2015. To read the full news, click here.
  • Biodel (NASDAQ: BIOD) today announced positive top-line results from a Phase 1 clinical trial of two ultra-rapid-acting insulin analog-based formulations, BIOD-238 and BIOD-250, conducted to evaluate the pharmacokinetic and injection site toleration profiles relative to Humalog®, a rapid-acting insulin analog. To read the full news, click here.
  • Researchers from IBM (NYSE: IBM) and the Institute of Bioengineering and Nanotechnology revealed today an antimicrobial hydrogel that can break through diseased biofilms and completely eradicate drug-resistant bacteria upon contact. To read the full news, click here.

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

 

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