Market Overview

US Stock Futures Mixed After Friday Rally

US Stock Futures Mixed After Friday Rally
Related LLY
7 Stocks You Should Be Watching Today
Zosano Pharma and Eli Lilly and Company Enter Into Exclusive Licensing Agreement for Zosano's ZP-PTH Product Candidate
Eli Lilly Bets Big on Diabetes, Cancer Drugs (Fox Business)
Related AKAM
UPDATE: JMP Securities Resumes Coverage On Akamai Technologies
Fast Money Halftime Report Final Trade From November 14
IBM's (Not So) Secret Weapon: Hybrid Cloud Computing (Fox Business)

Pre-open movers

US stock futures traded mixed in early pre-market trade. On the economics calendar Monday, there is no important data due out. Futures for the Dow Jones Industrial Average gained 13 points to 15,713.00, while the Standard & Poor's 500 index futures rose 0.70 points to 1,766.80. Futures for the Nasdaq 100 index fell 1.75 points to 3,358.75.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.20%, London's FTSE 100 index gaining 0.30% and STOXX Europe 600 Index rising 0.18%. German DAX 30 index rose 0.18% and French CAC 40 Index surged 0.25%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average jumped 1.30%, China's Shanghai Composite gained 0.16%, Hong Kong's Hang Seng Index rose 1.43% and India's BSE Sensex tumbled 0.85%. China's consumer price index increased 3.2% y/y in October, while industrial output climbed 10.3% in October. Retail sales in China jumped 13.3% y/y in October.

Broker Recommendation

Analysts at Goldman Sachs downgraded Eli Lilly and Company (NYSE: LLY) from “neutral” to “sell.” The target price for Eli Lilly has been lowered from $52 to $48.

Eli Lilly's shares closed at $50.63 on Friday.

Breaking news

  • Akamai Technologies (NASDAQ: AKAM) announced today that it has acquired Velocius Networks, a provider of quality of service (QoS) technology for optimizing application traffic across enterprise networks, in a cash transaction. To read the full news, click here.
  • IFM Investments (NYSE: CTC) today announced the appointment of Mr. Steve Ye as the Company's new chief financial officer, effective November 11, 2013. To read the full news, click here.
  • Medidata Solutions (NASDAQ: MDSO) today announced that its Board of Directors approved a two-for-one (2:1) split of the Company's common stock at a regularly scheduled board meeting on November 7, 2013. To read the full news, click here.
  • Mitel Networks (NASDAQ: MITL) and Aastra Technologies Limited (OTC: AASTF) today announced that they have entered into a definitive arrangement agreement unanimously approved by the Boards of Directors of both companies, under which Mitel will acquire all of the outstanding Aastra common shares for US$6.52 in cash plus 3.6 Mitel common shares per each Aastra common share. To read the full news, click here.

Posted-In: Goldman Sachs US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

Related Articles (AKAM + CTC)

Around the Web, We're Loving...

Get Benzinga's Newsletters