A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning, as investors are awaiting the Federal Reserve's report on present economic conditions. Portuguese government debt sold bonds worth 1.25 billion euros ($1.62 billion) in an auction. Futures on the Dow Jones Industrial Average surged 59 points to 11,675 and S&P 500 futures gained 7.70 points to 1,278. Nasdaq 100 futures rose 12 points to 2,298. A Peek Into Global Markets Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has advanced 1.05%, London's FTSE 100 Index moved up 0.44%. Mostly Asian markets ended in the positive territory, with Japan's Nikkei Stock Average dropping 0.29%, Australia's S&P/ASX 200 moving up 0.35% and China's Shanghai Composite gaining 0.61%. Broker Recommendation Goldman Sachs is upgrading shares of Church & Dwight Co., Inc. CHD to a Buy with a $81 price target on shares. In the note sent to clients, Goldman Sachs writes, "We upgrade Church & Dwight to Buy from Neutral, with 15-20% upside to our $81, 12-m price target. This is an upward revision story. We expect share acceleration in gross profit growth to drive 12%-13% EPS growth in 2011 that is 200 bp above consensus. Pricing should climb on reduced promotion, which we are now seeing in key categories like laundry. Volume is supported by share gains in a recovering industry. There is potential for further earnings upside for CHD if it deploys its balance sheet. We raise our estimates by 1-4% to $4.00/ $4.46/ $5.06 for 2010/2011/2012 from $3.97/$4.37/$4.84 to reflect stronger US sales and gross profit growth." Shares of CHD lost 6 cents yesterday to close at $69.09. Breaking news

• International Flavors & Fragrances Inc. IFF today announced that it plans to invest over $100 million in Greater Asia over the next three years. To read the full news, click here.
• Pfizer Inc. PFE announced today that it has initiated the rolling submission of a New Drug Application to the U.S. Food and Drug Administration for crizotinib, an oral first-in-class anaplastic lymphoma kinase inhibitor for the treatment of patients with advanced non-small cell lung cancer whose tumors are ALK-positive. To read the full news, click here.
• China HGS Real Estate Inc. HGSH today reported financial results for the fourth quarter and fiscal year ended September 30, 2010. To read the full news, click here.
• CSC CSC today announced it has closed the acquisition of Image Solutions, Inc. To read the full news, click here.

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