A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures moved up slightly, as investors are awaiting many US economic reports, comprising weekly jobless claims. Futures on the Dow Jones Industrial Average gained 3 points to 11,316.00, while S&P 500 futures rose 0.10 point to 1,211.00. Nasdaq 100 futures moved up 1.50 points to 2,177.75. A Peek Into Global Markets Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.19%, London's FTSE 100 Index moved down 0.48%. Most of the Asian markets ended in the negative territory, with Japan's Nikkei Stock Average adding 1.40%, Australia's S&P/ASX 200 moving down 0.86% and China's Shanghai Composite losing 0.63%. Broker Recommendation Oppenheimer & Co. has an Outperform rating and a $34 price target on Perfect World Co., Ltd. PWRD. It previews PWRD's earnings in a research report. In a note to clients, Oppenheimer writes, "PWRD will host its 3Q earnings on 11/15 at 8pm EST. We expect 3Q gaming revenues to increase ~2% near mid-point of guidance, although total revenue growth may get a boost from Film/TV business. 3Q OM will trough to ~34% with investments in new expansion packs, China Joy, and a sequential decline in overseas licensing. With two highly anticipated games launching 4Q10, we expect 4Q revenue growth to accelerate to ~6-7% q/q, offset by rising S/M to promote new games. PWRD remains one of our top picks in China's online gaming sector given its solid track record, large/growing games pipeline, and strength in 3D/international games." Shares of PWRD lost $1.37 yesterday to close at $30.44, a loss of 4.3%. Breaking news

• Greenbrier Companies, Inc. GBX announced on Wednesday morning that it missed consensus Wall Street estimates. To read the full news, click here.
• Lihua International, Inc. LIWA today announced financial results for the third quarter ended September 30, 2010. To read the full news, click here.
• Cache Inc., CACH reported results for the thirteen (“third quarter”) and thirty-nine week periods ended October 2, 2010. To read the full news, click here.
• VCG Holding Corp. VCGH today announced that on November 9, 2010 it entered into a definitive Agreement and Plan of Merger with the Company's Chairman of the Board and Chief Executive Officer, Troy Lowrie, Family Dog, LLC, FD Acquisition Co., and the Company's President and Chief Operating Officer, Micheal Ocello, to acquire all of the outstanding common stock of the Company held by public shareholders for $2.25 per share in cash in a going-private merger transaction where FD Acquisition Co. would merge with and into the Company, with the Company surviving the merger. To read the full news, click here.

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