Market Overview

A Peek Into The Market Before The Trading Starts

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Benzinga's Top Downgrades

Pre-open movers US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average surged 12 points to 13,937.00 and S&P 500 index futures rose 1.90 points to 1,508.40. Nasdaq 100 futures climbed 3 points to 2,740.00.

A Peek Into Global Markets European markets were mostly higher today. The STOXX Europe 600 Index rose 0.13%, London's FTSE 100 Index dropped 0.26%, German DAX 30 Index rose 0.38% and French CAC 40 Index climbed 0.26%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average falling 0.93%, China's Shanghai Composite dropping 0.66% and Australia's S&P/ASX 200 Index gaining 0.31%. Hong Kong's Hang Seng Index declined 0.34% and India's Sensex fell 0.30%.

Broker Recommendation Analysts at Janney Capital downgraded Akamai Technologies (NASDAQ: AKAM) from “buy” to “neutral.” The target price for Akamai has been lowered from $45 to $40.

Akamai shares dropped 15.80% to $35.01 in pre-market trading.

Breaking news

  • Cigna (NYSE: CI) reported a better-than-expected Q4 profit and lifted its 2013 forecast. To read the full news, click here.
  • Bunge Limited (NYSE: BG) today announced that Alberto Weisser will retire as chief executive officer (CEO) effective June 1, 2013. To read the full news, click here.
  • Fujitsu (OTC: FJTSY) and Panasonic (NYSE: PC) today announced that the two companies have signed a memorandum of understanding to consolidate the design and development functions of the system LSI businesses of Panasonic and Fujitsu Semiconductor, a wholly owned subsidiary of Fujitsu. To read the full news, click here.
  • Landry's announced that it has sent a letter to Ark Restaurants (NASDAQ: ARKR) proposing to acquire Ark in a negotiated transaction for $22.00 per share, which represents a 22% premium to Ark's closing price on February 6, 2013. To read the full news, click here.

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

 

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