Date: Monday 02 Jul 2012
-UBS cuts S&P 500 year-end target to 1,375 from 1,475
Dow Jones: 0.06%
Nasdaq Comp.: 0.23%
S&P 500: 0.20%
The main US equity benchmarks have started today´s session trading marginally lower. That ahead of the release of relevant economic data this afternoon, not to mention this next Friday´s all-important employment report.
Ahead of those data-points investors are now digesting a small barrage of M&A news at the open.
Foremost amongst these is the announcement that Micron Technology is to acquire Japanese rival Elpida Memory.
Bristol Myers Squibb, for its part, will purchase Amylin for another $5.3bn.
Dell may buy Quest Software at a price of 28 dollars per share.
Deutsche Bank has downgraded its recommendation on shares of UPS to hold from buy.
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