Good morning. Here's what you need to know.
  • Asian markets were mixed in overnight trading with the Shanghai Composite down 1.38 percent, dragged down by resource stocks and China's decision to raise fuel prices. Europe is sharply lower and U.S. futures are moderately lower.
  • Tiffany posted Q4 adjusted earnings of $1.39 per share, on revenue of $1.2 billion. For the full-year, sales grew 36 percent in the Asia-Pacific region, 17 percent in Europe, and 15 percent in the Americas.

  • BHP Billiton said that it is seeing signs that iron ore demand in China is flattening when it gave its presentation at the AJM Global Iron Ore & Steel Forecast Conference in Australia. This adds to concerns of a slowdown in China.


  • Amazon is buying Kiva Systems for $775 million in an all-cash deal. Kiva Systems specializes in developing robots for warehouses and the acquisition is expected to make Amazon shipping more efficient.

  • Apple said it has sold over 3 million iPads since it launched on Friday, beating expectations of 2.5 million sales. This comes after Apple announced a $10 billion share buyback and a dividend of $2.65 per share.

  • February housing starts missed expectations at 698K, but numbers for January were revised up to 706K >

  • Walt Disney said the failure of John Carter would lead to as much as a $120  million loss on its film division. The company is expected to take a $200 million write down on the film.