Market Overview

A Peek Into The Markets: U.S. Stock Futures Down; Mallinckrodt To Acquire Sucampo Pharmaceuticals

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A Peek Into The Markets: U.S. Stock Futures Down; Mallinckrodt To Acquire Sucampo Pharmaceuticals

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Richmond Fed manufacturing index for December is schedule for release at 10:00 a.m. ET, while the Dallas Fed manufacturing report for December will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 34 points to 24,732, while the Standard & Poor’s 500 index futures slipped 0.75 points to 2,685.25. Futures for the Nasdaq 100 index declined 17 points to 6,466.75.

Oil prices traded lower as Brent crude futures fell 0.23 percent to trade at $65.10 per barrel, while US WTI crude futures slipped 0.12 percent to trade at $58.40 a barrel.

A Peek Into Global Markets

European markets are closed today for Boxing Day.

In Asian markets, Japan’s Nikkei Stock Average fell 0.20 percent, Hong Kong’s Hang Seng Index climbed 0.72 percent, China’s Shanghai Composite Index rose 0.78 percent and India’s BSE Sensex climbed 0.21 percent.

Broker Recommendation

Analysts at William Blair downgraded Agile Therapeutics Inc (NASDAQ: AGRX) from Outperform to Market Perform.

Shake Shack shares fell 47.06 percent to close at $2.52 on Friday.

Breaking news

 

  • DelMar Pharmaceuticals Inc (NASDAQ: DMPI) disclosed a FDA Fast Track designation for VAL-083 in recurrent glioblastoma.
  • Mallinckrodt PLC (NYSE: MNK) announced plans to acquire Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) for $18 per share.
  • Humana Inc (NYSE: HUM) reported an accelerated buyback plan for $1 billion with Bank of America, N.A.
  • GTx, Inc. (NASDAQ: GTXI) reported a $150 million common stock and warrants offering.

Posted-In: A Peek Into The Markets U.S. stock futuresNews Eurozone Futures Global Pre-Market Outlook Markets

 

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