Market Overview

US Stock Futures Signal Lower Start On Wall Street

US Stock Futures Signal Lower Start On Wall Street
Related COH
Will Handbag Companies Be Hurt This Holiday Season?
Michael Kors Vs. Coach Handbag Survey: Who Wins?
Hong Kong Retail Sales: Negative Headwinds Persist (Seeking Alpha)
Related PETX
Juno Therapeutics, Kite Pharma, Eleven Bio Lead Monday's After-Hours Movers
Monday's Mid-Day Movers: Greece's Bank Shuts Down; Puerto Rico Unable To Pay Debts
Why Aratana Therapeutics (PETX) is Poised to Beat Earnings Estimates Again - Tale of the Tape (Zacks)

Pre-open movers

US stock futures declined in early pre-market trade. Futures for the Dow Jones Industrial Average tumbled 94 points to 15,081.00, while the Standard & Poor's 500 index futures fell 11.30 points to 1,687.70. Futures for the Nasdaq 100 index dropped 14 points to 3,211.50.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.03%, London's FTSE 100 index gaining 0.13% and STOXX Europe 600 Index dropping 0.03%. German DAX 30 index declined 0.16% and French CAC 40 Index fell 0.15%.

Asian markets ended mixed today. China's Shanghai Composite climbed 0.43% and Australia's ASX/S&P500 dropped 0.43% and India's Sensex surged 0.38%. China's exports declined 0.3% y/y, versus economists' expectations for a 6% rise. China's CPI increased 3.1% in September, versus a 2.6% rise in August.

Broker Recommendation

Analysts at Canaccord Genuity downgraded Coach (NYSE: COH) from “buy” to “hold.” The target price for Coach has been lowered from $65 to $62.

Coach's shares closed at $54.59 on Friday.

Breaking news

  • Aratana Therapeutics (NASDAQ: PETX) today announced that it has entered into a merger agreement providing for the strategic acquisition of Vet Therapeutics, Inc., a San Diego-based company with a proprietary antibody-based biologics platform. To read the full news, click here.
  • Superior Energy Services (NYSE: SPN) today announced that third quarter 2013 earnings are expected to be in the range of $0.39 to $0.41 per diluted share. To read the full news, click here.
  • MannKind (NASDAQ: MNKD) today announced the resubmission on October 13, 2013 of a new drug application (NDA) to the U.S. Food and Drug Administration (FDA) seeking approval for the marketing and sale of AFREZZA® (insulin human [rDNA origin]) Inhalation Powder with an indication to improve glycemic control in adults with type 1 or type 2 diabetes. To read the full news, click here.
  • St. Jude Medical (NYSE: STJ) today announced the completion of its acquisition of Nanostim, Inc., a privately-owned developer of miniaturized, leadless pacemakers. To read the full news, click here.

Posted-In: Canaccord Genuity US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


Related Articles (MNKD + COH)

Around the Web, We're Loving...

Get Benzinga's Newsletters