US Stock Futures Fall Ahead Of Consumer Sentiment Report
US stock futures traded lower in early pre-market trade, ahead of economic data. The producer price index for final demand will be released at 8:30 a.m. ET and the Reuter's/University of Michigan's consumer sentiment index for June will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 24 points to 16,654.00, while the Standard & Poor's 500 index futures fell 2.50 points to 1,920.70. Futures for the Nasdaq 100 index declined 3 points to 3,761.50.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index dropping 0.62%, STOXX Europe 600 Index declining 0.73%. German DAX 30 index fell 0.93%, French CAC 40 Index declined 0.88% and London's FTSE 100 Index slipped 1.06%. Spanish consumer price index increased 0.2% in May. The euro zone's trade surplus widened to EUR15.7 billion ($21.2 billion) in April, versus EUR14.0 billion in the year-ago month.
In Asian markets, Japan's Nikkei Stock Average rose 0.83%, Hong Kong's Hang Seng Index climbed 0.62%, China's Shanghai Composite Index surged 0.93% and India's BSE Sensex fell 1.36%. India's industrial production increased 3.4% y/y in April, versus a 0.5% drop in March.
Analysts at JP Morgan downgraded lululemon athletica (NASDAQ: LULU) from “overweight” to “neutral.” The target price for lululemon athletica has been lowered from $56 to $42.
lululemon's shares closed at $37.25 yesterday.
- TG Therapeutics (NASDAQ: TGTX) today announced preliminary clinical results from its ongoing Phase 2 study of TG-1101 (ublituximab), the Company's novel glycoengineered anti-CD20 monoclonal antibody, in combination with ibrutinib (IMBRUVICA™), the oral BTK inhibitor from Pharmacyclics/Janssen. To read the full news, click here.
- Samsung (OTC: SSNLF) launched the Galaxy Tab S Thursday at an event at Madison Square Garden in New York City. The Wi-Fi models of the 8.4-inch and 10.5-inch versions are available for pre-order Friday, priced at $399.99 and $499.99 respectively. To read the full news, click here.
- Luxfer Holdings (NYSE: LXFR), announced today that it has entered into an agreement to acquire the assets and business of Truetech, Inc. and of Innotech Products, Ltd., private companies operating under similar ownership, for an estimated $64 million, representing a multiple of approximately eight times the expected EBITDA for 2014. To read the full news, click here.
- Memorial Resource Development (NASDAQ: MRD) announced today the pricing of its initial public offering of 42,800,000 shares of its common stock at $19.00 per share. To read the full news, click here.
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