US Stock Futures Flat Ahead Of ISM Data
US stock futures were flat in early pre-market trade, ahead of the ISM non-manufacturing data. Futures for the Dow Jones Industrial Average gained 4 points to 15,594.00, while the Standard & Poor's 500 index futures fell 1.20 points to 1,702.80. Futures for the Nasdaq 100 index gained 2 points to 3,138.00.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index rising 0.24%, London's FTSE 100 index gaining 0.19% and STOXX Europe 600 Index surging 0.44%. German DAX 30 index gained 0.15% and French CAC 40 Index rose 0.14%. UK services PMI surged to 60.2 in July, from 56.9 in June. Spain's services PMI climbed to 48.5 in July, versus 47.8 in June.
Asian markets ended mixed after Chinese data. China's official non-manufacturing PMI surged to 54.1 in July, versus 53.9 in June, while the HSBC China Services PMI came in flat at 51.3 in July. China's Shanghai Composite surged 1.04%, while Japan's Nikkei Stock Average tumbled 1.44%. Australia's ASX/S&P500 dropped 0.10%, India's Sensex gained 0.1% and Hong Kong's Heng Seng Index rose 0.14%.
Analysts at Piper Jaffray downgraded QUALCOMM (NASDAQ: QCOM) from “overweight” to “neutral.” The target price for QUALCOMM has been lowered from $71 to $67.
QUALCOMM's shares closed at $66.75 on Friday.
- Rockwood Holdings (NYSE: ROC) reported an 86% drop in its second-quarter profit. Rockwood's quarterly net income declined to $32.3 million, or $0.41 per share, from $224.9 million, or $2.81 per share, in the year-ago period. To read the full news, click here.
- Corrections Corporation of America (NYSE: CXW) announced today that it has closed on the acquisition of Correctional Alternatives (CAI), a privately held community corrections company, for approximately $36 million, excluding transaction related expenses. To read the full news, click here.
- Amdocs (NYSE: DOX) and Vodafone (NASDAQ: VOD) today announced they have signed a five-year global managed services agreement for Vodafone's customer care and billing domain based on Amdocs software applications. To read the full news, click here.
- Third Point Reinsurance today announced that it has commenced an initial public offering of 22,222,222 of its common shares pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. To read the full news, click here.
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