Pre-open movers
US stock futures signaled that the stocks on Wall Street would move up today, after the upbeat quarterly results from Research In Motion Ltd RIMM and Oracle Corp ORCL. Futures on the Dow Jones Industrial Average surged 60 points to 10,610 and S&P 500 futures rose 5.10 points to 1,128. Nasdaq 100 futures advanced 9.50 points to 1,959.
A Peek Into Global Markets
Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has advanced 0.71%, London's FTSE 100 Index moved up 0.58%.
Most of the Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 1.23%, Australia's S&P/ASX 200 moving up 0.75% and China's Shanghai Composite losing 0.14%.
Broker Recommendation
Jefferies & Co. has a Hold rating on Altera ALTR, as it did channel checks on the company.
In the research report, Jefferies notes, "Checks in the
Communications supply chain indicate the Service Provider and Data Center supply chains continue to power ahead with some weakness noted in the Enterprise supply chain. We heard from numerous people that orders remain strong in the wireless infrastructure supply chain with semi companies seeing strength from Alcatel-Lucent, Ericsson, Huawei, Nokia Siemens, and ZTE driven by the ramp of the 4th and final phase of the China Mobile infrastructure build and initial 3G builds in India as well as 3G
infrastructure build outs in the U.S. Our contacts did indicate some weakness in the Cisco supply chain, largely due to weakness in the Enterprise segment."
Shares of Altera gained 31 cents to close at $28.15 yesterday, a gain of 1.1%.
Breaking news
Market News and Data brought to you by Benzinga APIs- Johnson & Johnson JNJ has planned to acquire all the outstanding shares of Dutch biopharmaceutical company Crucell NV CRXL for about €1.75 billion ($2.29 billion). To read the full news, click here.
- One bank is giving customers a get-out-of-overdraft-free card, if they catch and cover the overdrawn funds within 24 hours. To read the full news, click here.
- FTI Consulting, Inc. FCN announced today that it has priced its private offering of $400 million aggregate principal amount of 6 3/4% senior notes due 2020. To read the full news, click here.
- SLM Corporation SLM reports Sallie Mae's release of its private student loan securitization data for the quarter ending August 31. To read the full news, click here.
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