US Stock Futures Edge Lower Ahead Of Earnings
US stock futures declined in early pre-market trade, ahead of earnings from Facebook (NASDAQ: FB) and Apple (NASDAQ: AAPL). The Markit PMI manufacturing index (flash) for April will be released at 9:45 a.m. ET, while new home sales data for March will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 6 points to 16,452.00, while the Standard & Poor's 500 index futures fell 1.90 points to 1,872.00. Futures for the Nasdaq 100 index slipped 6.75 points to 3,578.25.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index rising 0.15%, London's FTSE 100 index dropping 0.14% and STOXX Europe 600 Index slipping 0.37%. German DAX 30 index declined 0.29% and French CAC 40 Index slipped 0.40%. German preliminary composite PMI climbed to 56.3 in April versus 54.3 in March. Euro-zone composite PMI surged to 54.0 in April versus 53.1 in March.
Asian markets ended mixed today. Japan's Nikkei Stock Average rose 1.09%, Hong Kong's Hang Seng Index dropped 0.97%, China's Shanghai Composite fell 0.26% and India's BSE Sensex rose 0.52%. The preliminary reading of China's PMI increased to 48.3 in April versus 48.0 in the previous month, HSBC reported.
Analysts at Compass Point downgraded Brown & Brown (NYSE: BRO) from “buy” to “neutral.” The target price for Brown & Brown has been lowered from $36 to $33.
Brown & Brown's shares closed at $28.91 yesterday.
- Alexion Pharmaceuticals (NASDAQ: ALXN) today announced that the European Commission has granted an orphan drug designation (ODD) to Soliris® (eculizumab), a first-in-class terminal complement inhibitor, for the prevention of graft rejection following solid organ transplantation. To read the full news, click here.
- Procter & Gamble Co (NYSE: PG) reported a rise in its third-quarter profit. P&G's quarterly profit surged to $2.61 billion, or $0.90 per share, versus a year-ago profit of $2.57 billion, or $0.88 per share. To read the full news, click here.
- DaVita Kidney Care, a division of DaVita HealthCare Partners Inc. (NYSE: DVA) and a leading provider of kidney care services, today announced it acquired three hemodialysis centers from Malaysian dialysis provider Sinar Indentiti Sbn Bhd, further expanding its care of kidney patients in the country. To read the full news, click here.
- ARM Holdings PLC (NASDAQ: ARMH) reported a gain in its first-quarter net profit. To read the full news, click here.
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