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US Stock Futures Flat Ahead Of Coca-Cola Earnings, Housing Data

US Stock Futures Flat Ahead Of Coca-Cola Earnings, Housing Data

Pre-open movers

US stock futures traded mostly flat in early pre-market trade, ahead of earnings from Coca-Cola Co (NYSE: KO). The Empire State manufacturing index for February will be released at 8:30 a.m. ET, while the NAHB housing market index for February and e-commerce retail sales for the fourth quarter will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 4 points to 16,131.00, while the Standard & Poor's 500 index futures fell 1.30 points to 1,833.70. Futures for the Nasdaq 100 index dropped 2.25 points to 3,658.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.84%, London's FTSE 100 index dropping 0.08% and STOXX Europe 600 Index declining 0.45%. German DAX 30 index fell 0.21% and French CAC 40 Index tumbled 0.47%. The euro zone's current account surplus fell to 21.3 billion euros ($29.2 billion) in December, versus a revised EUR23.3 billion in November. UK's consumer price inflation fell to an annual rate of 1.9% in January. German ZEW indicator of economic sentiment fell 6 points to 55.7 in February.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average jumped 3.13%, Hong Kong's Hang Seng Index rose 0.23%, China's Shanghai Composite Index dropped 0.77% and India's BSE Sensex surged 0.83%.

Broker Recommendation

Analysts at Morgan Stanley upgraded Forest Laboratories (NYSE: FRX) from “equal-weight” to “overweight.” The price target for Forest Laboratories is set to $86.

Forest Labs' shares closed at $71.39 on Friday.

Breaking news

  • Actavis (NYSE: ACT) and Forest Laboratories (NYSE: FRX) today announced that they have entered into a definitive agreement under which Actavis will acquire Forest for a combination of cash and equity valued at approximately $25 billion or $89.48 per Forest share ($26.04 in cash and 0.3306 Actavis shares for each share of Forest common stock). To read the full news, click here.
  • TAT Technologies (NASDAQ: TATT) today announced that it has entered into an agreement to sell its entire interest in Bental Industries, constituting 70% of Bental's issued and outstanding share capital, to Bental Investments Agshah, for an aggregate consideration of $5 million. To read the full news, click here.
  • Hanwha SolarOne (NASDAQ: HSOL) announced that the Company's at-the-market offering of American Depositary Shares, each representing five ordinary shares of par value US$0.0001 per share, was terminated on January 29, 2014. To read the full news, click here.
  • Danaher (NYSE: DHR) announced today that its Board of Directors has approved a regular quarterly dividend of $0.10 per share payable on April 25, 2014 to holders of record on March 28, 2014. To read the full news, click here.

Posted-In: Morgan Stanley US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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