US Stock Futures Drop Ahead Of International Trade Data - Bloomin Brands (NASDAQ:BLMN), Cognizant Tech Solns (NASDAQ:CTSH)

Pre-open movers

US stock futures slipped in early pre-market trade. Data on international trade for June will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 55 points to 16,311.00, while the Standard & Poor's 500 index futures fell 5.90 points to 1,907.10. Futures for the Nasdaq 100 index declined 17.25 points to 3,854.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 1.93%, STOXX Europe 600 Index declining 1.36%. German DAX 30 index fell 1.45%, French CAC 40 Index tumbled 1.17% and London's FTSE 100 Index dropped 1.17%. In Asian markets, Japan's Nikkei Stock Average fell 1.05%, Hong Kong's Hang Seng Index dropped 0.26%, China's Shanghai Composite Index declined 0.11% and India's Sensex fell 0.94%.

Broker Recommendation

Analysts at Jefferies downgraded Bloomin' Brands

BLMN

from Buy to Hold. The price target for has been lowered from $26.00 to $18.00. Bloomin' Brands shares tumbled 23.98% to close at $15.06 yesterday.

Breaking news

Viacom VIAB reported weaker-than-expected fiscal third-quarter earnings. To read the full news, click here.
Cognizant Technology Solutions CTSH reported a rise in its second-quarter profit. However, the company lowered its revenue growth outlook. To read the full news, click here.
Twenty-First Century Fox FOX announced Tuesday that it is withdrawing its bid for Time Warner TWX. To read the full news, click here.
Groupon GRPN reported a Q2 earnings miss following Tuesday's closing bell. Q2 EPS came in at $0.01 vs. the consensus estimate of $0.03; sales came in at $751.6 million vs. the estimated $762 million. To read the full news, click here.

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