A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher, this morning as investors are awaiting economic data. Futures on the Dow Jones Industrial Average gained 11 points to 11,025, while S&P 500 futures moved up 2.10 points to 1,180.40. Nasdaq 100 futures rose 4.75 points to 2,124. A Peek Into Global Markets Positive sentiments ruled the European markets today. While STOXX Europe 600 Index advanced 0.58%, London's FTSE 100 Index moved up 0.63%. Asian markets ended mixed, with Japan's Nikkei Stock Average losing 0.84%, Australia's S&P/ASX 200 moving down 0.08% and China's Shanghai Composite gaining 1.12%. Broker Recommendation J.P. Morgan Chase & Co. has a Neutral rating and a $12 price target on Fred's, Inc. FRED. In a note sent to investors, J.P. Morgan writes, "Fred's stock has become more intriguing recently with an impressive margin performance in 3Q, a solid balance sheet, and a number of top-line catalysts in-play. We remain cautiously on the sideline, for now, however, as 4Q has stood as the annual stumbling block for the past few years with a weak seasonal sell-through historically. We note that 4Q results have the potential to be different this time around led by the company's remodeling efforts in ~30% of the store base, improved in-stock levels, and an increased marketing/promotional presence and we will use the company's appearance at JPMorgan's SMID Cap Conference on December 3rd as an opportunity to dig deeper into ongoing initiatives and gauge quarter-to-date progress. Specifically on 3Q, EPS beat our forecast by $0.02 leading to a modest upward revision to FY10 and FY11 estimates." Shares of FRED gained 8 cents yesterday to close at $12.68. Breaking news

• China Cord Blood Corp CO reports its Q2 EPS at $0.05, beating the consensus of $0.04. To read the full news, click here.
• Net income attributable to Deere & Company DE was $457.2 million, or $1.07 per share, for the fourth quarter ended October 31, compared with a net loss of $222.8 million, or $0.53 per share, for the same period last year. To read the full news, click here.
• Tiffany & Co TIF reports its Q3 adjusted EPS at $0.46, beating the consensus of $0.37. To read the full news, click here.
• Anacor Pharmaceuticals, Inc. ANAC today announced the pricing of its initial public offering of 12,000,000 shares of its common stock at a price of $5.00 per share. To read the full news, click here.

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