A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning, as investors are awaiting the start of Apple Inc's (NASDAQ: AAPL) annual developers conference. Futures on the Dow Jones Industrial Average dropped 30 points to 12,095.00 and futures on the S&P 500 stock index fell 3.10 points to 1,293.20. Nasdaq 100 futures declined 7.50 points to 2,280.00. A Peek Into Global Markets Most Asian markets ended lower, with Japan's Nikkei Stock Average dipping 1.18%, Australia's S&P/ASX 200 moving down 0.38%. India's Sensex gained 0.30%. European markets were lower today. The STOXX Europe 600 Index has dropped 0.43%, London's FTSE 100 Index moved down 0.07%.

Broker Recommendation Analysts at Brean Murray upgraded American Eagle Outfitters Inc (NYSE: AEO) from “sell” to “hold.” The target price for American Eagle is set to $12.

American Eagle shares fell 0.08% to close at $12.80 on Friday.

Breaking news

• Emergent BioSolutions (NYSE: EBS) announced today that it has acquired from TenX BioPharma, Inc. the rights to zanolimumab, an investigational, late-stage monoclonal antibody cancer therapy targeting T-cell lymphomas. To read the full news, click here.
• PROLOR Biotech (NYS: PBTH) today reported positive results from a comparative animal study of its long-acting anti-obesity drug candidate oxyntomodulin. To read the full news, click here.
• Chesapeake Energy Corporation (NYSE: CHK) today announced that it has successfully completed its tender offer for Bronco Drilling Company, Inc. (NASDAQ: BRNC), which expired at 5:00 p.m., New York City time, on Friday, June 3, 2011. To read the full news, click here.
• The International Air Transport Association (IATA) reported that it now projects member airlines to make a net profit of $4 billion this year, lower than its earlier March forecast of $8.6 billion. To read the full news, click here.

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