Slow Start

Good morning. Premarket futures are pointing to a slow start to the 4th quarter as traders await a batch of economic data. We have reports on manufacturing, construction spending, and pending home sales due out at 10:AM.

Along with a downgrade of Apple (AAPL) and reduced same store sales guidance from Wal-Mart (WMT) we also have some M&A activity. Gilead Sciences (GILD) has agreed to acquire Myogen (MYOG) for $2.5 billion while there's a report that Harrah's Entertainment (HET) may be acquired.

Beyond those headlines, stocks trading higher in premarket trading include MYOG, MNTG, RBAK, BMRN, SEPR, RICK, PRST, DIVX, LVLT, and NVTL. Stocks under pressure so far include OPMR, CRYP, LCAV, HRLY, GIGM, GILD, AAPL, and ASMI.

I'm on the road this week visiting with family in Ohio so my posts will be far and few between over the next few days.