A Peek Into The Market Before The Trading Starts

US stock futures moved up slightly, as investors are awaiting many US economic reports, comprising weekly jobless claims. Futures on the Dow Jones Industrial Average gained 3 points to 11,316.00, while S&P 500 futures rose 0.10 point to 1,211.00. Nasdaq 100 futures moved up 1.50 points to 2,177.75.

Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.19%, London's FTSE 100 Index moved down 0.48%. Most of the Asian markets ended in the negative territory, with Japan's Nikkei Stock Average adding 1.40%, Australia's S&P/ASX 200 moving down 0.86% and China's Shanghai Composite losing 0.63%.

Oppenheimer & Co. has an Outperform rating and a $34 price target on Perfect World Co., Ltd.

. It previews PWRD's earnings in a research report. In a note to clients, Oppenheimer writes, "PWRD will host its 3Q earnings on 11/15 at 8pm EST. We expect 3Q gaming revenues to increase ~2% near mid-point of guidance, although total revenue growth may get a boost from Film/TV business. 3Q OM will trough to ~34% with investments in new expansion packs, China Joy, and a sequential decline in overseas licensing. With two highly anticipated games launching 4Q10, we expect 4Q revenue growth to accelerate to ~6-7% q/q, offset by rising S/M to promote new games. PWRD remains one of our top picks in China's online gaming sector given its solid track record, large/growing games pipeline, and strength in 3D/international games." Shares of PWRD lost $1.37 yesterday to close at $30.44, a loss of 4.3%.

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