A Peek Into The Market Before The Trading Starts

Pre-open movers
US stock futures are lower this morning, after a strong earthquake in the northeastern part of the Japan. The tsunami warnings were also issued for Hawaii, parts of the West Coast of the US and 19 other countries. Futures on the Dow Jones Industrial Average dipped 50 points to 11,870.00 and futures on the S&P 500 index fell 4.40 points to 1,285.10. Nasdaq 100 futures dropped 10.25 points to 2,270.50.

A Peek Into Global Markets

Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.83%, London's FTSE 100 Index moved down 0.48%.

Asian markets ended in the negative territory, with Japan's Nikkei Stock Average dropping 1.73%, Australia's S&P/ASX 200 moving down 1.18% and China's Shanghai Composite falling 0.79%. Hong Kong's Hang Seng Index declined 1.55% and India's Sensex lost 0.84%.

Broker Recommendation
Analysts at Soleil upgraded Accuray Incorporated ARAY from “sell” to “buy.” The target price for ARAY is set to $10.

ARAY shares dropped 1.18% to close at $8.40 yesterday.

Breaking news

• Arena Pharmaceuticals, Inc. ARNA today reported financial results for the fourth quarter and full year ended December 31, 2010, and reviewed recent developments. To read the full news, click here.



• Hibbett Sports Inc HIBB reported a 10% y/y rise in its Q4 earnings per share. To read the full news, click here.



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• Chevron CVX has reached an agreement with Valero Energy Corporation VLO to sell Chevron Limited, the entity that holds the 220,000 barrel per day Pembroke Refinery and other downstream assets in the United Kingdom and Ireland. To read the full news, click here.

Read more from Benzinga's Markets.