A Peek Into The Market Before The Trading Starts - Flotek Industries (NYSE:FTK), Franklin Street Props (AMEX:FSP)

Pre-open movers

US stock futures are higher this morning. Futures for the Dow Jones Industrial Average surged 46 points to 15,090.00 and S&P 500 index futures rose 3.70 points to 1,628.30. Nasdaq 100 futures gained 7.25 points to 2,965.25.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index rose 0.61%, London's FTSE 100 index gained 0.63%, French CAC 40 Index gained 0.68% and German DAX 30 index rose 0.84%. Asian markets ended higher, with Japan's Nikkei Stock Average jumping 2.93%, China's Shanghai Composite surging 0.62% and Australia's S&P/ASX 200 index rose 0.20%. Hong Kong's Hang Seng Index rose 0.47% and India's Sensex gained 0.72%.

Broker Recommendation

Analysts at JP Morgan downgraded Synageva BioPharma

GEVA

from “overweight” to “neutral.” The target price for Synageva BioPharma has been lowered from $57 to $50. Synageva BioPharma's shares closed at $45.79 yesterday.

Breaking news

Flotek Industries FTK ("Flotek" or the "Company") today announced that, through a wholly-owned subsidiary, the Company has signed a Definitive Agreement (the "Agreement") to immediately acquire all of the outstanding stock of Winter Haven, Florida-based Florida Chemical Company, Inc. ("Florida Chemical"), the world's largest processor of citrus oils and a pioneer in solvent, chemical synthesis and flavor/fragrance applications from citrus oils from facilities in Florida and Texas. To read the full news, click here.
Sirona SIRO, the dental technology leader, today announced that the Company's Board of Directors has approved a new share repurchase program, authorizing up to an additional $100 million in share repurchases, with an expiration date of June 30, 2016. To read the full news, click here.
Tessera Technologies, Inc. TSRA announced today that its Tessera, Inc. subsidiary has reached a settlement with Siliconware Precision Industries SPIL. To read the full news, click here.
Franklin Street Properties Corp. (the “Company” or “FSP”) FSP today announced the pricing of its previously-announced public offering of 15.0 million shares of its common stock at a price of $14.00 per share, for net proceeds of approximately $201.1 million after underwriting discounts and commissions and estimated offering expenses (or approximately $231.3 million if the underwriters' option to purchase additional shares is exercised in full). To read the full news, click here.

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