Market Overview

US Stock Futures Slightly Lower Ahead Of McDonald's Sales Report

Related DG
UBS Initiates Coverage On Family Dollar Stores, Inc., Dollar General Corp. And Dollar Tree, Inc.
Benzinga's Top Initiations
Family Dollar Rejects Dollar General Proposal (Fox Business)
Related TRMB
UPDATE: Janney Capital Downgrades Trimble Navigation As Ag Cyclicality Dampens Growth, Multiple Expectations
UPDATE: Janney Capital Downgrades Trimble Navigation Limited

Pre-open movers

US stock futures traded slightly lower in early pre-market trade. McDonald's (NYSE: MCD) is expected to report its sales for May today. The TD Ameritrade Investor Movement Index for May will be released at 12:30 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 7 points to 16,925.00, while the Standard & Poor's 500 index futures fell 1.70 points to 1,947.60. Futures for the Nasdaq 100 index dropped 1.50 points to 3,796.50.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.19%, STOXX Europe 600 Index gaining 0.13%. German DAX 30 index rose 0.07%, French CAC 40 Index fell 0.06% and London's FTSE 100 Index gained 0.18%.

In Asian markets, Japan's Nikkei Stock Average rose 0.31%, Hong Kong's Hang Seng Index climbed 0.73%, China's Shanghai Composite Index gained 0.03% and India's BSE Sensex jumped 0.72%. Japan's current-account surplus came in at Y187.4 billion in April. The country's gross domestic product rose at an annualized rate of 6.7% in the first quarter versus the earlier quarter, up from an initial estimate of a 5.9% growth.

Broker Recommendation

Analysts at Jefferies upgraded Dollar General (NYSE: DG) from “hold” to “buy.” The target price for Dollar General has been raised from $56 to $75.

Dollar General's shares closed at $57.99 on Friday.

Breaking news

  • Trimble (NASDAQ: TRMB) announced today that it has acquired privately-held Mining Information Systems (MIS), headquartered in Perth, Australia. The acquisition will add enterprise-level information management capabilities to Trimble's portfolio of mining solutions. To read the full news, click here.
  • Endurance Specialty Holdings (NYSE: ENH) today commenced an Exchange Offer for all of the outstanding common shares of Aspen Insurance Holdings Limited ("Aspen") (NYSE: AHL). To read the full news, click here.
  • Eclipse Resources (NYSE: ECR) today announced that it has launched its initial public offering of 30,300,000 shares of common stock at an anticipated initial offering price between $27.00 and $30.00 per share pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) announced today that it has initiated a Phase 1 study for ISIS-DMPKRx. Isis earned a $14 million milestone payment from Biogen Idec (NASDAQ: BIIB) associated with this achievement. To read the full news, click here.

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

 

Related Articles (BIIB + AHL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional