Market Overview

US Stock Futures Up; Apple Earnings In Focus

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Related OC
Earnings Scheduled For July 23, 2014
Earnings Season Boosts Confidence; S&P Trades At Record Highs
Owens Corning Dampens 2014 Outlook (Fox Business)

Pre-open movers

US stock futures rose in early pre-market trade, ahead of earnings from Apple (NASDAQ: AAPL). The pending home sales index for September will be released at 10:00 a.m. ET, while the Dallas Fed general business activity index for October will be released at 10:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 22 points to 15,519.00, while the Standard & Poor's 500 index futures gained 2.40 points to 1,756.30. Futures for the Nasdaq 100 index rose 8.25 points to 3,382.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.66%, London's FTSE 100 index dropping 0.09% and STOXX Europe 600 Index declining 0.08%. German DAX 30 index fell 0.01% and French CAC 40 Index declined 0.44%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average surged 2.19%, China's Shanghai Composite rose 0.04% and Hong Kong's Hang Seng Index surged 0.48%. Australia's ASX/S&P500 rose 0.96% and India's Sensex declined 0.55%.

Broker Recommendation

Analysts at Bank of America downgraded Owens Corning (NYSE: OC) from “buy” to “neutral.” The target price for Owens Corning has been lowered from $43 to $40.

Owens Corning's shares closed at $37.80 on Friday.

Breaking news

  • Loews (NYSE: L) reported a 59% rise in its third-quarter earnings. Loews posted a quarterly profit of $282 million, or $0.73 per share, versus a year-ago profit of $177 million, or $0.45 per share. To read the full news, click here.
  • BankUnited (NYSE: BKU) announced today the commencement of an underwritten offering of 9,000,000 shares of its common stock by certain of its existing stockholders, subject to market and other conditions. To read the full news, click here.
  • Liberty Global (NASDAQ: LBTYA) announced today an agreement to sell substantially all of its international content division Chellomedia to AMC Networks (NASDAQ: AMCX).To read the full news, click here.
  • Myriad Genetics (NASDAQ: MYGN) today announced that validation data for the Myriad myPlan Lung Cancer test showed that it significantly predicted patients' risk of death from early-stage lung adenocarcinoma within five years of being diagnosed. To read the full news, click here.

Posted-In: Bank of America US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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