US Stock Futures Slide Ahead Of Economic Data

Pre-open movers

US stock futures traded lower in early pre-market trade. The S&P/Case-Shiller home price index for January will be released at 9:00 a.m. ET, while the Chicago PMI for March will be released at 9:45 a.m. ET. The Conference Board's consumer confidence index for March will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 96 points to 17,764.00, while the Standard & Poor's 500 index futures fell 11.35 points to 2,064.15. Futures for the Nasdaq 100 index slipped 22.60 points to 4,349.90.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.33%, STOXX Europe 600 Index declining 0.47% and German DAX 30 index dropping 0.90%. French CAC 40 Index slipped 0.57% and London's FTSE 100 Index fell 1.04%.

In Asian markets, Japan's Nikkei Stock Average fell 1.05%, Hong Kong's Hang Seng Index climbed 0.18%, China's Shanghai Composite Index declined 1.02% and India's BSE Sensex fell 0.07%.

Broker Recommendation
Analysts at Cowen & Company downgraded Catamaran Corporation (NASDAQ: CTRX) from Outperform to Market Perform and raised the price target from $57.00 to $61.50.

Catamaran shares jumped 23.82% to close at $59.83 yesterday.

Breaking news

• Conn's Inc. (NASDAQ: CONN) reported weaker-than-expected earnings for the fourth quarter, but the company's revenue exceeded analysts' estimates. To read the full news, click here.
• Antares Pharma, Inc. (NASDAQ: ATRS) today announced that Ferring Pharmaceuticals Inc. (Ferring) has received U.S. Food and Drug Administration (FDA) approval of a name change enabling its newly acquired recombinant human growth hormone to be marketed in the U.S. as ZOMACTON™ (somatropin [rDNA origin]) for injection, and the needle-free delivery system to be marketed in the U.S. as ZOMA-Jet™. To read the full news, click here.
• Quintiles (NYSE: Q) and Quest Diagnostics (NYSE: DGX) today announced a definitive agreement to form a global clinical trials laboratory services business. To read the full news, click here.
• Sapiens International Corporation (NASDAQ: SPNS) today announced it has signed a definitive agreement, subject to closing conditions, to acquire IBEXI Solutions Private Limited (IBEXI), an India-based provider of insurance business and technology solutions. To read the full news, click here.