A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning, ahead of a second day of testimony by Fed Chairman Ben Bernanke. Futures for the Dow Jones Industrial Average dropped 38 points to 12,699.00 and S&P 500 index futures fell 5 points to 1,353.50. Nasdaq 100 futures declined 8 points to 2,579.00. A Peek Into Global Markets European markets were higher today. The STOXX Europe 600 Index rose 0.14%, London's FTSE 100 Index gained 0.05%, French CAC 40 Index gained 0.56% and German DAX 30 index rose 0.11%. Asian markets ended mixed, with Japan's Nikkei Stock Average falling 0.32%, China's Shanghai Composite gaining 0.37% and Australia's S&P/ASX 200 dropping 0.45%. Hong Kong's Hang Seng Index dipped 1.11% India's Sensex rose 0.47%. Broker Recommendation Analysts at JPMorgan downgraded Rovi ROVI from “overweight” to “neutral.”The target price for Rovi has been lowered from $46 to $17. Rovi shares fell 24.65% to $13.30 in after-hours trading. Breaking news

• Kraft Foods KFT and SodaStream International SODA today announced the expansion of their strategic partnership for the manufacturing, marketing, distribution and sale of Kraft Foods beverage brands for use with the SodaStream soda making system. To read the full news, click here.
• Alimera Sciences ALIM today announced that it has entered into a securities purchase agreement with a group of institutional investors, including both existing and new investors, for a $40 million Series A Convertible Preferred Stock financing. To read the full news, click here.
• Silicon Laboratories SLAB today announced it has filed a patent infringement lawsuit against MaxLinear in the Southern District of California, San Diego Division. To read the full news, click here.
• Level 3 Communications LVLT today announced that ESPN Brazil will use Level 3 Vyvx broadcast solutions infrastructure and managed services to optimize transmissions and provide integrated services for TV stations that carry its broadcasts in Brazil. To read the full news, click here.