Market Overview

A Peek Into The Market Before The Trading Starts

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Louis Dreyfus Commodities Extends Tender Offer for Shares of Imperial Sugar Company Until 5:00 P.M. on June 19, 2012 to Permit Delivery of Guaranteed Shares
Louis Dreyfus Commodities LLC Announces 68.5% of Shares of Imperial Sugar Company Tendered; Extends Tender Offer Until 5:00 P.M. on June, 18, 2012 to Permit Delivery of Guaranteed Shares

Pre-open movers US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dropped 42 points to 12,668.00 and S&P 500 index futures fell 3.70 points to 1,333.80. Nasdaq 100 futures declined 0.50 points to 2,563.50.

A Peek Into Global Markets European markets were mostly higher today. The STOXX Europe 600 Index rose 0.14%, London's FTSE 100 Index gained 0.29%, French CAC 40 index rose 0.10% and German DAX 30 index surged 0.63%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 1.77%, Chinese Shanghai Composite gaining 0.40% and Australia's S&P/ASX 200 rising 1.87%. Hong Kong's Hang Seng index surged 1.01% and India's Sensex dropped 1.35%.

Broker Recommendation Analysts at UBS upgraded VeriFone Systems (NYSE: PAY) from “neutral” to “buy.” The target price for VeriFone has been raised from $37 to $48.

VeriFone shares gained 0.36% to close at $30.46 on Friday.

Breaking news

  • Louis Dreyfus Commodities LLC today announced an extension of the offer period for the previously announced tender offer for all of the outstanding shares of common stock of Imperial Sugar Company (NASDAQ: IPSU) by Louis Dreyfus Commodities LLC's subsidiary Louis Dreyfus Commodities Subsidiary Inc for $6.35 per share in cash, without interest and less any applicable withholding taxes. To read the full news, click here.
  • PetSmart (NASDAQ: PETM) announced the Board of Directors' approval to increase its quarterly dividend by 18% from $0.14 to $0.165 per share beginning in the second quarter of fiscal 2012. To read the full news, click here.
  • L & L Energy (NASDAQ: LLEN) announced today, consistent with its consolidation strategy, the entry into an MOU to acquire the Lashu Mine in HeZhang County, Guizhou Province. To read the full news, click here.
  • Infinity Pharmaceuticals (NASDAQ: INFI) today announced interim data from its Phase 2, double-blind, randomized, placebo-controlled study of saridegib (IPI-926) in patients with metastatic or locally advanced, inoperable chondrosarcoma. To read the full news, click here.

Posted-In: UBS US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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