A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning, as investors are awaiting earnings from major companies. Futures on the Dow Jones Industrial Average advanced 25 points to 11,865 and S&P 500 futures gained 4.90 points to 1,287. Nasdaq 100 futures climbed 12.25 points to 2,292. A Peek Into Global Markets Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has gained 0.80%, London's FTSE 100 Index moved up 0.90%. Asian markets ended higher, with Japan's Nikkei Stock Average gaining 0.36%, Australia's S&P/ASX 200 rising 0.04% and China's Shanghai Composite rising 0.30%. Broker Recommendation Credit Suisse is out with its report today on ExxonMobil XOM, raising its PT from $76 to $84 thanks to an EPS beat. In a report sent to clients, Credit Suisse notes, "an 'oily' beat and strong cashflow supports $84/share: XOM beat due to strong realizations and demand for its international gas. This demonstrates the 'oily' nature of XOM's international gas portfolio. We are raising EPS by c7% in 2011 and c3% in 2012. Our longer term estimates are broadly unchanged as we had already incorporated a longer term bullish gas price outlook. XOM's cash generation of $13bn was stronger than expected, particularly in light of conf call comments that working capital made a limited contribution. Robust cash generation supports our increased $84/sh target price (up from $76). Higher absolute share prices are possible, if robust oil demand stresses markets." Credit Suisse maintains Neutral on XOM. Shares of XOM closed Monday at $80.68, up 2.14% from Friday's close. Breaking news

• Checkpoint Systems, Inc. CKP today announced that it has entered into a definitive agreement to acquire Shore to Shore, Inc., including the Adapt Group and related assets. To read the full news, click here.
• Orexigen Therapeutics OREX is absolutely crushed today on a pessimistic CRL from the FDA. After reopening from a NASDAQ trading halt for the news release, the stock hit levels over 71% lower than Monday's close. To read the full news, click here.
• Weston, Massachusetts-based Biogen Idec Inc. BIIB on Tuesday morning released financial results that beat Wall Street expectations. To read the full news, click here.
• Dallas, Texas-based Celanese Corporation CE announced on Tuesday morning that it beat consensus Wall Street estimates. To read the full news, click here.

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