A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning as unrest continued in the major oil-producing state of Libya. Futures for the Dow Jones Industrial Average tumbled 95 points to 12,280, while those for the S&P 500 index dropped 16.70 points to 1,326. Futures for the Nasdaq 100 declined 39.50 points to 2,356. A Peek Into Global Markets Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.95%, London's FTSE 100 Index moved down 0.96%. Asian markets ended in the negative territory, with Japan's Nikkei Stock Average dropping 1.78%, Australia's S&P/ASX 200 dropping 0.87% and China's Shanghai Composite losing 2.62%. Broker Recommendation Deutsche Bank is out with its report today on Calpine CPN, lowering its price target from $16 to $15.50. In a note to clients, Deutsche Bank writes, "We are maintaining our Hold rating and lowering PT to $15.50 on valuation post Q4 results and updated disclosures. We view CPN as the best thematically positioned IPP and the best relative value, but see only modest absolute upside. We lowered our 2011 estimate by $35M and it is now towards the bottom of CPN's guidance range. We reduced our 2014 est on lower '14-15 RPM price assumptions. We are not surprised CPN chose not to implement a share buyback program, but think one could be started later this year given mgmt comments." Shares of CPN closed Friday at $14.81, up 0.61% from Thursday's close. Breaking news

• Office Depot, Inc. ODP today announced results for the fiscal quarter and full year ending December 25, 2010. Total Company sales for the fourth quarter of 2010 were $3.0 billion, a decrease of 3% compared to the fourth quarter of 2009. To read the full news, click here.
• Bottomline Technologies EPAY today announced the acquisition of Direct Debit Limited (DDL), a London-based provider of payments automation software for direct debits and receivables management for corporations, banks, financial institutions and government organizations. To read the full news, click here.
• Wal-Mart Stores Inc WMT reports its Q4 adjusted EPS at $1.34, beating the consensus of $1.31. To read the full news, click here.
• Home Depot HD reports its Q4 EPS at $0.36, beating the consensus of $0.31. To read the full news, click here.

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