US Stock Futures Edge Lower After Weak China Trade Data
US stock futures fell in early pre-market trading after downbeat Chinese trade data. Futures for the Dow Jones Industrial Average dropped 21 points to 16,427.00, while the Standard & Poor's 500 index futures fell 2.50 points to 1,875.60. Futures for the Nasdaq 100 index declined 0.25 points to 3,704.00.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index rising 0.53%, London's FTSE 100 index gaining 0.20% and STOXX Europe 600 Index declining 0.01%. German DAX 30 index fell 0.31% and French CAC 40 Index surged 0.64%. Italian industrial output climbed 1.0% in January from December, while French industrial production fell 0.2% in January versus December.
Asian markets ended mostly lower today. Japan's Nikkei Stock Average declined 1.01%, Hong Kong's Hang Seng Index fell 1.75%, China's Shanghai Composite Index tumbled 2.86% and India's BSE Index gained 0.02%. Chinese exports declined 18.1% y/y in February.
Analysts at Cowen & Company upgraded IAC/InterActiveCorp (NASDAQ: IACI) from “market perform” to “outperform.” The price target for IAC/InterActiveCorp has been raised from $72 to $92.
IAC/InterActiveCorp's shares closed at $77.00 on Friday.
- Regado Biosciences (NASDAQ: RGDO) today announced that the United States Food and Drug Administration (FDA) has designated REG1 for anticoagulant therapy to be used in patients with coronary artery disease during percutaneous coronary interventions (PCI) as a Fast Track development program. To read the full news, click here.
- NII Holdings (NASDAQ: NIHD) today announced that it has retained UBS Investment Bank as its financial advisor to explore and advise the company on potential strategic opportunities, including creating partnerships or alliances, selling or merging one or more of the company's business units or other strategic transactions involving the entire company. To read the full news, click here.
- E-House (China) Holdings (NYSE: EJ) today announced that Leju Holdings, a wholly owned subsidiary of E-House, has submitted a draft registration statement on Form F-1 in compliance with the U.S. Securities Act of 1933, as amended to the U.S. Securities and Exchange Commission for a proposed initial public offering of Leju and listing of Leju's American depositary shares representing its ordinary shares on a major stock exchange in the US. To read the full news, click here.
- FMC (NYSE: FMC) today announced plans to separate into two independent public companies, "New FMC," which will be comprised of FMC's Agricultural Solutions and Health and Nutrition segments and "FMC Minerals," which will be comprised of FMC's current Minerals segment. To read the full news, click here.
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