A Peek Into The Market Before The Trading Starts - Acacia Research (NASDAQ:ACTG)

Pre-open movers

US stock futures are slightly lower this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average dropped 11 points to 13,827.00 and S&P 500 index futures fell 1.60 points to 1,493.70. Nasdaq 100 futures declined 9 points 2,726.75.

A Peek Into Global Markets

European markets were lower today. The STOXX Europe 600 Index fell 0.50%, London's FTSE 100 Index dropped 0.55%, German DAX 30 Index fell 0.46% and French CAC 40 Index declined 0.91%. Asian markets ended mostly lower, with Japan's Nikkei Stock Average rising 0.22%, China's Shanghai Composite surging 0.12% and Australia's S&P/ASX 200 Index dropping 0.37%. Hong Kong's Hang Seng Index declined 0.39% and India's Sensex dropped 0.55%.

Broker Recommendation

Analysts at Citigroup downgraded Facebook

from “buy” to “neutral.” The target price for Facebook is set to $30. Facebook shares dropped 5.73% to $29.45 in pre-market trading.

Breaking news

Whirlpool WHR reported a 40% drop in its fourth-quarter profit. To read the full news, click here.
Acacia Research ACTG announced today that a subsidiary has acquired patents relating to vascular device technology. To read the full news, click here.
Time Warner Cable TWC today announced that the Company raised its regular quarterly dividend by 16 percent to $0.65 per share; $2.60 per share on an annualized basis. To read the full news, click here.
CreXus Investment CXS announced today that it has entered into a definitive merger agreement pursuant to which Annaly Capital Management NLY will acquire all of the outstanding shares of common stock of the Company not currently owned by Annaly for $13.00 per share in cash. To read the full news, click here.

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