US stocks are seen starting lower as the second quarter begins, but Darden Restarurants (NYSE:DRI) in focus pre-market after an upgrade from broker RBC Capital.
Shares are up 0.80% before the bell, to US$85.93, after the broker lifted the share to 'outperform' from 'sector perform' and said it believed the firm is looking at having the best of both worlds in restaurants - with world-class digital capabilities, marketing, consumer insights, and R&D (research and development).
Darden Restaurants upgraded to outperform from sector perform at RBC Capital https://t.co/E22x5UfUU7 MARKETWATCH
— FinanzLinksMarkets (@FinanzLinksUS) 2 April 2018
e-commerce giant Alibaba (NASDAQ:BABA) is likely to be in focus too today in New York after news at the weekend. Reports revealed the firm is buying the part of online food delivery service Ele.me it doesn't already own, in a deal that values the startup at an eye-watering US$9.5bn.
Elsewhere, Kentucky-based Humana Inc (NYSE:HUM) is up over 7% before the New York bell at US$288 a pop after reports suggest that retail behemoth Walmart is involved in early talks about a possible acquisition of the health insurer Humana, or a potentially deeper partnership.
The US health care industry is undergoing massive consolidation.
On the other hand, Under Armour Inc (NYSE:UAA) shares are down 2.14% to US$16 in pre-market after news that its MyFitnessPal app was hacked in February, with 150mln user accounts affected.
In macro news today, later there will be the US manufacturing report for March released.
Wall Street shares on Thursday closed higher.