A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are mixed this morning, as investors are awaiting jobless-claims data and earnings report. Futures on the Dow Jones Industrial Average rose 7 points to 11,992 and S&P 500 futures fell 1.80 points to 1,298.20. Nasdaq 100 futures fell 1.75 points to 2,318. A Peek Into Global Markets Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has lost 0.29%, London's FTSE 100 Index moved down 0.45%. Asian markets ended mixed, with Japan's Nikkei Stock Average dropping 0.25% and Australia's S&P/ASX 200 rising 0.44%. Broker Recommendation Piper Jaffray is out with its report today on Shutterfly SFLY, raising its price target from $26 to $40. In its note to clients, Piper Jaffray writes, "Shutterfly reported a solid quarter with revenue of $166.2m, which was above the Street at $154.4m. GAAP EPS was $1.09 vs. Street consensus of $0.95. Personalized Products revenue of $123.8m was 74% of total revenue (vs. 71% in Q4'09); this compared to the Street at $117m. The segment grew 33% y/y in Q4'10 up from 29% y/y growth in last year's Q4. We are raising our target from $26 to $40 based on an unchanged multiple of 27x EPS, but we are rolling forward to CY12E PF EPS of $1.50. We are maintaining our Neutral rating." Shares of SFLY closed Wednesday at $34.31, up 0.88% from Tuesday's close. Breaking news

• Cardinal Health CAH reports its Q2 EPS at $0.61, versus the consensus of $0.61. To read the full news, click here.
• Merck & Co Inc MRK reports its Q4 EPS at $0.88, beating the consensus of $0.83. To read the full news, click here.
• BJ's Wholesale BJ today announced that its Board of Directors, upon the recommendation of a committee of independent directors, has decided to explore and evaluate strategic alternatives, including a possible sale of the Company. To read the full news, click here.
• Houston, Texas-based Diamond Offshore Drilling, Inc. DO on Thursday morning released financial results. Diamond Offshore Drilling, Inc reported that its 4th quarter net income fell to $241.7 million, or $1.74 per share, down from $276.1 million, or $1.98 per share, a year earlier. To read the full news, click here.

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