A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dipped 71 points to 12,763.00 and S&P 500 index futures fell 8.50 points to 1,349.10. Nasdaq 100 futures dropped 9.50 points to 1,349.10. A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index dropped 0.71%, London's FTSE 100 Index moved down 0.67%, French CAC 40 index fell 0.90% and German DAX 30 index declined 0.63%. Asian markets ended lower, with Japan's Nikkei Stock Average dropping 0.63%, Australia's S&P/ASX 200 moving down 0.25% and China's Shanghai Composite dropping 0.63%. Hong Kong's Hang Seng Index fell 1.30% and India's Sensex declined 0.77%. Broker Recommendation Analysts at Credit Suisse downgraded Best Buy Co Inc BBY from “outperform” to “neutral.” The target price for Best Buy has been lowered from $32 to $20. Best Buy shares dropped 0.80% to close at $19.94 yesterday. Breaking news

• Medicis MRX today announced the pricing of its public offering of $450 million aggregate principal amount of convertible senior notes due 2017 in an offering registered under the Securities Act of 1933, as amended. To read the full news, click here.
• Rentrak Corporation RENT today announced the company has expanded its StationView Essentials contract with Local TV, LLC for its NBC-affiliate, WHO-HD, in Des Moines, Iowa. To read the full news, click here.
• Geeknet Inc GKNT today announced that its Board of Directors has authorized the Company and its advisors to explore strategic alternatives with respect to its online media business, including the SourceForge, Slashdot and Freecode websites. To read the full news, click here.
• Ampio Pharmaceuticals Inc AMPE announced completion of a pre-IND meeting with the Center for Biological Evaluation and Research (CBER) division of the FDA that took place on May 10th regarding Ampio's lead biologic, Ampion™ for the chronic treatment (repeat injections) of pain in osteoarthritis (OA) of the knee. To read the full news, click here.