A Peek Into The Market Before The Trading Starts - Alcoa (NYSE:AA), Arrowhead Pharma (NASDAQ:ARWR)

Pre-open movers

US stock futures are higher this morning, ahead of the minutes of the recent Fed meeting. Futures for the Dow Jones Industrial Average surged 58 points to 12,643.00 and S&P 500 index futures rose 6 points to 1,341.50. Nasdaq 100 futures gained 9.25 points to 2,587.25.

A Peek Into Global Markets

European markets were mixed today. The STOXX Europe 600 Index rose 0.07%, London's FTSE 100 Index gained 0.01%, French CAC 40 Index declined 0.15% and German DAX 30 index rose 0.53%. Asian markets ended mostly lower, with Japan's Nikkei Stock Average falling 0.08%, China's Shanghai Composite rising 0.51% and Australia's S&P/ASX 200 dropping 0.07%. Hong Kong's Hang Seng Index rose 0.12% India's Sensex fell 0.73%.

Broker Recommendation

Analysts at BMO Capital downgraded Alcoa

from “market perform” to “underperform.” The target price for Alcoa has been lowered from $10 to $8. Alcoa shares dropped 0.12% to $8.39 in after-hours trading.

Breaking news

Arrowhead Research ARWR today announced that the first patient has been dosed in a Phase 1 clinical trial with Adipotide®, a new class of treatment for obesity. To read the full news, click here.
Boeing BA and the Europe-based TUI Travel PLC have signed a five-year agreement to provide 787 Dreamliner flight, maintenance and cabin safety training. To read the full news, click here.
Teva Pharmaceutical Industries Ltd TEVA announced that the United Kingdom High Court of Justice issued a decision in favor of Teva in a patent litigation proceeding against Generics (UK) Limited, a subsidiary of Mylan Laboratories Inc., on July 11, 2012. To read the full news, click here.
Given Imaging GIVN today announced that Japan's Ministry of Health, Labor and Welfare (MHLW) has issued reimbursement codes for the PillCam Patency Capsule for use with PillCam SB® and for the PillCam SB video capsule for expanded indications for patients with known or suspected small bowel disease, including the visualization and diagnosis of Crohn's disease. To read the full news, click here.

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