Pre-open movers
US stock futures are higher, this morning as investors awaited economic data. General Motors Co is set to start trading on the New York Stock Exchange (NYSE). Futures on the Dow Jones Industrial Average rose 95 points to 11,090, while S&P 500 futures gained 13.30 points to 1,191. Nasdaq 100 futures moved up 27 points to 2,124.
A Peek Into Global Markets
Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has advanced 1.24%, London's FTSE 100 Index moved up 1.46%.
Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 2.06%, Australia's S&P/ASX 200 moving up 0.38% and China's Shanghai Composite gaining 0.93%.
Broker Recommendation
Oppenheimer & Co. is lowering its price target on NRG Energy, Inc. NRG to $23 from $24, but is keeping is Overweight rating on shares.
In a note sent to clients, Oppenheimer writes, "While we increased our EBITDA estimates slightly after making adjustments for acquisitions and power price assumptions, a change in segment EBITDA contribution caused us to lower our price target by $1 to $23. We lowered the Texas segment by about $100 million while increasing the Reliant segment by $150 million, as we expect fewer customers switching and higher margins. The Reliant segment also includes a contribution from Green Mountain Energy. While NRG's stock is looking increasingly attractive given its year-to-date price weakness, we believe it is still too early to switch into unregulated generators. A fair trading range for NRG is $19-26; we note that NRG is at the lower end of that range."
Shares of NRG gained 3 cents yesterday to close at $19.47.
Breaking news
Market News and Data brought to you by Benzinga APIs- Williams-Sonoma, Inc. WSM today announced operating results for the third quarter of fiscal 2010, which ended on October 31, 2010 (“Q3 10”). To read the full news, click here.
- In advance of its annual investor day to be held today, Nu Skin Enterprises, Inc. NUS announces 2011 financial guidance, anticipating another record year with revenue increasing 5 to 7 percent to $1.60 to $1.63 billion. To read the full news, click here.
- The Buckle, Inc. BKE announced today that at a meeting of the Board of Directors, held on November 17, 2010, the Board authorized a $2.50 per share special one-time cash dividend to be paid to shareholders of record at the close of business on December 3, 2010, with a payment date of December 21, 2010. To read the full news, click here.
- Staples, Inc. SPLS announced on Thursday morning that it beat consensus Wall Street estimates. To read the full news, click here.
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