Market Overview

US Stock Futures Down In Pre-Market Trade

US Stock Futures Down In Pre-Market Trade
King Digital: RBC Capital, Deutsche Bank, Wedbush React To Share Price Decline
Tiger Global Is Into Consumer Discretionary, Tech Segments In Latest 13F
Surprise! SPYR is Good at Things Besides Mobile Games. (ZNGA, SPYR, KING) (Small Cap Network)
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The Default Probabilities Of Struggling Energy Stocks
Imperial Capital Reiterates In-Line, Lowers PT On Warren Resources On Multiple Challenges Ahead
Warren Resources strikes financing deal with Franklin Square Capital (Seeking Alpha)

Pre-open movers

US stock futures traded lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 24 points to 16,952.00, while the Standard & Poor's 500 index futures fell 3.30 points to 1,974.30. Futures for the Nasdaq 100 index declined 6.50 points to 3,909.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.41%, STOXX Europe 600 Index declining 0.30%. German DAX 30 index fell 0.15%, French CAC 40 Index declined 0.44% and London's FTSE 100 Index dropped 0.17%. German industrial production index declined 1.8% in May.

In Asian markets, Japan's Nikkei Stock Average fell 0.37%, Hong Kong's Hang Seng Index fell 0.02%, China's Shanghai Composite Index surged 0.03% and India's BSE Sensex climbed 0.53%.

Broker Recommendation

Analysts at Piper Jaffray upgraded King Digital Entertainment (NYSE: KING) from “neutral” to “overweight.” The target price for King Digital Entertainment has been raised from $19 to $28.

King Digital's shares closed at $21.87 on Thursday.

Breaking news

  • Warren Resources (NASDAQ: WRES) today announced that it has executed a purchase and sale agreement to acquire essentially all of the Marcellus assets of Citrus Energy and two additional working interest owners for $352.5 million. To read the full news, click here.
  • Malibu Boats (NASDAQ: MBUU) today announced that, subject to market and other conditions, it and certain selling stockholders intend to offer 4,000,000 shares of its Class A Common Stock, consisting of 3,195,887 shares to be offered by the Company and 804,113 shares to be offered by the Selling Stockholders. To read the full news, click here.
  • Wi-LAN (NASDAQ: WILN) today announced that WiLAN and Nokia Networks (NYSE: NOK) have signed a patent license agreement pursuant to which Nokia Networks receives a multi-year license to a broad portfolio of wireless patents used in a range of wireless infrastructure products offered by Nokia Networks. To read the full news, click here.
  • AcelRx Pharmaceuticals (NASDAQ: ACRX) and Grunenthal Group announced today that Grunenthal has submitted a Marketing Authorization Application (MAA) to the European Medicines Authority for ZALVISO™ for the management of moderate to severe acute pain in adult patients in a medically supervised environment. To read the full news, click here.

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


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