A Peek Into The Market Before The Trading Starts - Abercrombie & Fitch (NYSE:ANF)

US stock futures are higher this morning. Futures for the Dow Jones Industrial Average surged 60 points to 12,983.00 and S&P 500 index futures rose 7.10 points to 1,377.50. Nasdaq 100 futures gained 13 points to 2,638.00.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index surged 0.45%, London's FTSE 100 Index gained 0.53%, French CAC 40 Index climbed 1.16% and German DAX 30 index rose 0.66%. Asian markets ended mixed, with Japan's Nikkei Stock Average rising 0.13%, China's Shanghai Composite falling 0.57% and Australia's S&P/ASX 200 rising 0.17%. Hong Kong's Hang Seng Index dropped 0.66%.

Broker Recommendation

Analysts at Piper Jaffray downgraded Abercrombie & Fitch Co

ANF

from “overweight” to “neutral.” The target price for Abercrombie & Fitch has been lowered from $50 to $28. Abercrombie & Fitch shares dropped 16.08% to $28.55 in pre-market trading.

Breaking news

HEICO HEI today announced that its Flight Support Group has acquired 84% of the assets and certain liabilities of CSI Aerospace Inc. To read the full news, click here.
ZIOPHARM Oncology ZIOP announced today that the United States Patent and Trademark Office issued Patent No. 8,232,262 entitled "Salts of Isophosphoramide Mustard and Analogs Thereof as Anti-Tumor Agents" with claims directed to pharmaceutical compositions, methods of treatment and methods of making a novel DNA cross-linker, including palifosfamide (ZIO-201). To read the full news, click here.
Visteon VC today announced that it has completed the sale of its automotive lighting business to Varroc Group, a global provider of automotive parts, for $72 million in cash, subject to price adjustments. The two companies announced plans for the sale on March 12. To read the full news, click here.
Genesee & Wyoming GWR announced today that GWI and a newly formed GWI subsidiary, KeRail Inc, have entered into a long-term agreement with Tata Steel Minerals Canada Ltd (TSMC) for KeRail to provide rail transportation services to the 4.2 million tons per annum direct shipping iron ore mine TSMC is developing near Schefferville, Quebec in the Labrador Trough (the Mine). To read the full news, click here.

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