A Peek Into The Market Before The Trading Starts

Pre-open movers

US stock futures are mixed this morning. Futures for the Dow Jones Industrial Average dropped 4 points to 14,559.00 and S&P 500 index futures rose 0.80 points to 1,560.00. Nasdaq 100 futures gained 6.25 points to 2,787.25.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index rose 0.24%, London's FTSE 100 Index gained 0.32%, French CAC 40 Index climbed 0.51% and German DAX 30 index rose 0.05%. Asian markets ended mixed, with Japan's Nikkei Stock Average dropping 0.24 points, China's Shanghai Composite gaining 0.64% and Australia's S&P/ASX 200 rising 1.37%. Hong Kong's Hang Seng Index climbed 0.70% and India's Sensex fell 1.15%.

Broker Recommendation

Analysts at Citigroup downgraded Lufkin Industries

LUFK

from “buy” to “sell.” The target price for Lufkin has been raised from $75 to $88.50. Lufkin shares closed at $87.96 yesterday.

Breaking news

Kratos Defense & Security Solutions KTOS announced today that its Public Safety and Security Division has recently received $7 million in contract awards to provide specialized security systems for a mass transit authority and other critical infrastructure. To read the full news, click here.
Columbia Laboratories CBRX has amended its license and supply agreement with Merck Serono, a division of Merck KGaA (MRK.DE), Darmstadt, Germany, for CRINONE® (progesterone gel) through May 2020, representing an extension of five years beyond the current term, which was due to expire in May 2015. To read the full news, click here.
In an effort that will accelerate commercialization of extreme ultraviolet (EUV) lithography technology and the development of next-generation transistors, SEMATECH announced today that Intermolecular IMI has joined SEMATECH's Lithography and Front End Processes (FEP) programs. To read the full news, click here.
HP Autonomy today announced that ENCO Systems, a global provider of radio automation and live television audio solutions, has selected Autonomy's Intelligent Data Operating Layer (IDOL) to upgrade ENCO's latest-generation enCaption product. To read the full news, click here.

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