A Peek Into The Market Before The Trading Starts - Orion Gr Hldgs (NYSE:ORN), Citba Finl (OTC:CBAF)

Pre-open movers

US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dropped 1 point to 15,061.00 and S&P 500 index futures dropping 0.90 points to 1,627.80. Nasdaq 100 futures dropped 4.75 points to 2,957.00.

A Peek Into Global Markets

European markets were mixed today. The STOXX Europe 600 Index rose 0.04%, London's FTSE 100 index gained 0.05%, French CAC 40 Index dropped 0.77% and German DAX 30 index dropping 0.02%. Asian markets were mostly lower, with Japan's Nikkei Stock Average dropping 0.66%, China's Shanghai Composite dropping 0.59% and Australia's S&P/ASX 200 index rose 0.05%. Hong Kong's Hang Seng Index dropping 0.14% and India's Sensex dropping 0.26%.

Broker Recommendation

Analysts at Goldman Sachs downgraded Tesla Motors

TSLA

from “buy” to “neutral.” The target price for Tesla Motors has been raised from $45 to $61. Tesla Motors' shares closed at $55.79 yesterday.

Breaking news

Resolute Energy REN announced today the pricing of a previously announced registered underwritten public offering of 13,250,000 shares of common stock offered by the Company and 3,000,000 shares of common stock offered by certain selling stockholders. To read the full news, click here.
Orion Marine Group ORN (the "Company"), a leading heavy civil marine contractor serving the infrastructure sector, today announced a contract award of approximately $9 million. To read the full news, click here.
CITBA Financial Corporation (CITBA) CBAF, Mooresville, IN, the bank holding company of Citizens Bank, and Merchants Bancorp (Merchants)(private), Carmel, IN, the bank holding company of Merchants Bank of Indiana, announced today they have signed a definitive agreement for the merger of Merchants with and into CITBA. To read the full news, click here.
TeleCommunication Systems TSYS, today announced that it has been awarded $2 million in incremental funding to provide the U.S. Marine Corps (USMC) with Deployed Engineering Services for its Wireless Point to Point Link (WPPL) systems and commercialization effort in theater. To read the full news, click here.

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