Market Overview

A Peek Into The Market Before The Trading Starts

Related MJN
Zimmer Posts Q2 Earnings Beat, Revenues Miss; Guides Low
Boston Scientific Tops Q2 Earnings, Revenues; Ups EPS View
Related FRTN
Fortran Acquires CCI Telecom

Pre-open movers

US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average jumped 155 points to 15,071.00 and S&P 500 index futures rose 16.70 points to 1,625.80. Nasdaq 100 futures gained 32.50 points to 2,969.00. A Peek Into Global Markets European markets were mixed today. The STOXX Europe 600 Index rose 0.12%, London's FTSE 100 Index climbed 0.59%, French CAC 40 Index declined 0.24% and German DAX 30 index fell 0.02%.

Asian markets ended higher, with Japan's Nikkei Stock Average rising 2.08%, China's Shanghai Composite rising 0.05% and Australia's S&P/ASX 200 surged 0.95%. Hong Kong's Hang Seng rose 1.89% and India's Sensex climbed 0.36%.

Broker Recommendation Analysts at Morgan Stanley downgraded Mead Johnson Nutrition Company (NYSE: MJN) from “overweight” to “equal-weight.” The target price for Mead Johnson Nutrition has been lowered from $87.00 to $76.00. Mead Johnson shares closed at $68.85 on Wednesday.

Breaking news

  • Fortran Corporation (OTC: FRTN), a leading communications system integrator announced today that if has reached a definitive share exchange agreement on June 7th with CCI Telecom, Inc of Statesville, North Carolina.To read the full news, click here.
  • First Manhattan Co. (“FMC”), an owner-managed and operated investment advisory firm and the owner of approximately 9.9 percent of the outstanding shares of VIVUS, Inc. (“Vivus”) (NASDAQ: VVUS), today announced that two leading proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Egan Jones Proxy Services (“Egan Jones”) have recommended that Vivus stockholders vote for the election of FMC director nominees to the Vivus board of directors. To read the full news, click here.
  • Acacia Research Corporation (NASDAQ: ACTG) announced today that its Brandywine Communications Technologies LLC subsidiary has entered into a settlement agreement with Grandstream Networks, Inc. To read the full news, click here.
  • ReneSola (NYSE: SOL) today announced its microinverter, Micro Replus, formally obtained certification in the United States, Canada, Australia, New Zealand, Germany, Denmark and the United Kingdom in the first half of this year. To read the full news, click here.

Posted-In: A Peek Into The Market Before The Trading StartsNews Futures Global Pre-Market Outlook Markets

 

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