The U.S. stock futures traded in green ahead of the opening bell as market gained a little ground in the wake of an Italian-debt auction amid thin holiday-trading conditions. The U.S. market is expected to trade in volatile note today.
Ahead of the real-time trading, the Dow Jones industrial average futures were trading lower by 0.09 percent, or 11 points to 12,230. The Nasdaq Futures were trading higher by 0.27 percent, or 6.25 points to 2,290.75. Standard and Poor's 500 futures were trading higher by 0.23 percent, or 2.90 points, to trade at 1,263.10, today.
Hot Stocks of the Day: FNF, NYT, CAVM, MRX, ACAT
Fidelity National Financial, Inc. (NYSE: FNF) said it agreed to sell an 85 percent interest in the business to WT Holdings Inc. for about $119 million.
New York Times Co. (NYSE: NYT) announced that it would realize estimated net proceeds of about $150 million from the sale of its regional newspaper holdings.
Cavium, Inc. (Nasdaq: CAVM) lowered its outlook for the fiscal 2011 fourth quarter, saying it expects revenue of $56 million to $57 million. Analysts had estimated the company to generate quarterly revenue of $62.6 million.
Medicis Pharmaceutical Corp. (NYSE: MRX) revised higher its 2011 profit forecast, expecting earnings in a range of $2.35 to $2.41 a share, up from the $2.33 to $2.39 a share projected in November. At the same time, the drugmaker lowered its projected revenue range, citing renegotiated contracts. As revised, Medicis sees revenue of $711 million to $724 million for 2011, down from the range of $728 million to $741 million forecast last month.
Arctic Cat Inc. (Nasdaq: ACAT) said it has paid $79.3 million in cash to repurchase its shares held by Suzuki Motor Corp. , concluding the Japanese auto maker's ownership in the company.
Global Markets:
The global markets traded in a mixed note today as two successful Italian bond auctions raised hopes that Italy will be able to roll over billions of! euros o f its debt this year. In Europe, Germany's DAX was up by 0.12 percent or 7.09 points to trade at 5,897.47. Great Britain's FTSE 100 was up 0.62 percent or 34.23 points to 5,546.88. France's CAC40 added 0.51 percent or 15.70 points to 3,118.75.
In the Asian market, China's Shanghai Composite closed higher by 0.18 percent, or 3.81 points to 2,170.01. Hong Kong's Hang Seng fell 0.59 percent or 110.50 points to 18,518.67. Japan's Nikkei 225 was down 0.20 percent or 16.94 points to close trading at 8,423.62. India's BSE 30 Sensex lost 0.92 percent or 146.10 points to close at 15,727.85.
Market Scan:
Ahead of the opening bell, crude oil was trading lower by 0.34 percent at $101 per barrel. Gold was down 0.38 percent at $1,589.40 per ounce.
In the currency market, the euro was trading higher by 0.03 percent against the U.S. dollar, while the British pound was down 0.01 percent against the dollar. The dollar was down 0.21 percent against the Japanese yen.On Tuesday, Wall Street closed on a flat note. The Dow Jones industrial average lost 0.02 percent or 2.27 points to close at 12,291.73. The Standard & Poor's 500 index was up 0.01 percent or 0.11 points to close at 1,265.44. The Nasdaq Stock Market Inc. composite index added 0.25 percent or 6.56 points to close at 2,625.20.
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