A Peek Into The Market Before The Trading Starts - Biomarin Pharmaceutical (NASDAQ:BMRN)

Pre-open movers

US stock futures are lower this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average dropped 64 points to 15,115.00 and S&P 500 index futures fell 8.70 points to 1,622.50. Nasdaq 100 futures declined 13 points to 2,961.75.

A Peek Into Global Markets

European markets were lower today. The STOXX Europe 600 Index fell 1.02%, London's FTSE 100 index dropped 1.54%, French CAC 40 Index declined 1.21% and German DAX 30 index fell 1.30%. Asian markets ended mostly lower, with Japan's Nikkei Stock Average tumbling 3.83%, China's Shanghai Composite falling 0.07% and Australia's S&P/ASX 200 index falling 1.23%. Hong Kong's Hang Seng Index declined 0.97% and India's Sensex rose 0.11%.

Broker Recommendation

Analysts at Goldman Sachs downgraded Joy Global

JOY

from “buy” to “neutral.” The price target for Joy Global has been lowered from $72 to $60. Joy Global's shares closed at $54.05 yesterday.

Breaking news

Owens Corning OC has announced a strategic alliance with glass fiber producer Taishan Fiberglass, a subsidiary of China National Materials Group, Sinoma, to grow the use of Alkali Resistant specialty glass products sold under the brands Cem-FIL®, Anti–CRAK®, Slurry-FIL™ throughout the world. To read the full news, click here.
Textainer Group Holdings TGH and Trifleet Leasing (The Netherlands) B.V. signed an agreement under which Textainer will invest in new intermodal tank containers to be managed by Trifleet, marking Textainer's entry into the tank container market. To read the full news, click here.
Summit Midstream Partners LP SMLP today announced two separate acquisitions of unrelated natural gas gathering systems totaling $460 million in the Bakken and Marcellus shale plays. To read the full news, click here.
BioMarin Pharmaceutical BMRN announced today that it has initiated the Phase 3 program for PEG-PAL (PEGylated recombinant Phenylalanine Ammonia Lyase) for the treatment of phenylketonuria (PKU). To read the full news, click here.

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