A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are slightly lower this morning. Futures for the Dow Jones Industrial Average dropped 10 points to 12,053.00 and S&P 500 index futures fell 3 points to 1,270.00. Nasdaq 100 futures dropped 4.75 points to 2,464.25. A Peek Into Global Markets European markets were mostly higher today. The STOXX Europe 600 Index rose 0.11%, French CAC 40 index rose 0.30% and German DAX 30 index dropped 0.97%. Asian markets ended higher, with Japan's Nikkei Stock Average gaining 1.04%, China's Shanghai Composite rising 0.15% and Australia's S&P/ASX 200 moving up 1.46%. Hong Kong's Hang Seng index gained 0.40% and India's Sensex surged 0.18%. Broker Recommendation Analysts at RW Baird downgraded Navistar International Corporation NAV from “outperform” to “neutral.” The target price for Navistar International has been lowered from $56 to $31. Navistar International shares dropped 1.48% to close at $26.61 yesterday. Breaking news

• The Medicines Company MDCO today announced that it proposes to offer $200 million aggregate principal amount of its convertible senior notes due 2017, subject to market conditions and other factors. To read the full news, click here.
• Zep Inc ZEP today announced that a wholly owned subsidiary of Zep Inc. completed the purchase of all of the shares of Mykal Industries Limited, effective June 1, 2012, for an undisclosed price. To read the full news, click here.
• Oncolytics Biotech Inc ONCY announced today that it has entered into an agreement whereby the NCIC Clinical Trials Group at Queen's University in Kingston, Ontario, will sponsor and conduct a randomized Phase II study of REOLYSIN in patients with advanced or metastatic non-small cell lung cancer. To read the full news, click here.
• AECOM Technology Corporation ACM announced today that it has been selected as the designer for a design-build contract to upgrade North Road in Qatar as part of the wider Qatar Expressway program. To read the full news, click here.