New York, March 10^th (TradersHuddle.com) – Stock futures were edging higher, indicating a slightly positive open. Investors mulled over good overseas economic data and latest corporate news, as they awaited the wholesales inventories report.

Overseas European shares were flat, while Asian stocks fell. China's exports and imports grew faster than forecast in February. And Japan's core machinery orders fell less than expected in January from the previous month, easing concern that a recovery in corporate spending could slow down and harm the economy.

The government will release its report on wholesale inventories for January at 10 am, with economists predicting a rise of 0.2 percent. Inventories dropped 0.8 percent in December.

Today Stocks to watch: Abbott Labs (NYSE:ABT), Baidu (NYSE:BIDU), Chevron (NYSE:CVX), Citigroup (NYSE:C), Goodrich (NYSE:GR), JPMorgan Chase (NYSE:JPM), NYSE Euronext (NYSE:NYX), and Textron (NYSE:TXT).

Abbott Labs (NYSE:ABT) will be in focus after the company announced that it has received FDA approval for the TECNIS Multifocal 1-Piece intraocular lens for cataract patients with and without presbyopia. Additionally the company is acquiring Facet Biotech (NASDAQ:FACT) for $27 a share, after a hostile offer of $17.50 from Biogen (NASDAQ:BIIB) failed. The cash deal will cost Abbott close to $450 million and will bring 3 phase-2 development drugs, one of which is due to enter phase 3 by mid 2010, as well as 2 phase-1 drug to Abbott’s development pipeline.

Shares of Baidu (NYSE:BIDU), the Chinese search engine, were gaining more than 1% in pre-market trading. Citigroup raised their target price for the stock to $630 from $550, citing Baidu will be the company that will benefit the most form China’s strong eCommerce momentum and growth. The analysts’ new target price gives a multiple of 40 times 2011 P/E as they view robust eCommerce growth and opportunities for the company to improve its monetization capabilities.

Chevron (NYSE:CVX), the second largest U.S. energy producer, will likely see some pressure as a pair of analyst downgrades will hit the stock in today’s trading. Bank of America Merill Global Research cut its rating on the stock from “Buy” to “Neutral”, and JPMorgan also downgraded the energy producer to “Neutral” from “Buy”, citing no new developments to influence investment case and better values like Exxon Mobil (NYSE:XOM) in the sector.

Shares of Citigroup (NYSE:C) were adding to yesterday’s gains in pre-market trading. Reports showed that Citi will be pricing a multiple times oversubscribed trust preferred offering, $25 par, at a yield of 8.875%, with the size at roughly $2 billion.  Yesterday, the stock priced surged more than 7%, with heavy call option volume, on speculation that the government was planning to restrict short sales on the companies it's bailed out and currently owns stock in. And on rumors that the Treasury was planning to sell its stake in Citi, with some overseas banks interested on the stake and maybe a takeover.

Goodrich (NYSE:GR), the aerospace components, systems, and services provider, will likely see a boost after Goldman Sachs added the stock to its Conviction Buy list. Meanwhile Textron (NYSE:TXT), the maker of Cessna business jets and Bell helicopter, was removed from Goldman’s Conviction Buy list. 

Shares of JPMorgan Chase (NYSE:JPM) may see a boost, after Jim Cramer, host of the Mad Money show in CNBC reiterated his positive view on the stock. Cramer said that the financial sector will likely outperform, and that it was best to own the best of breed in the sector. The Mad Money host stated that JP Morgan is the best run and most well-capitalized financial stock out there. He said the company is taking share and is doing everything right when it comes to rebuilding to its former self.

NYSE Euronext (NYSE:NYX) will be a stock to watch, after the company announced trading volumes for its global derivatives and cash equities exchanges for February 2010. European derivatives volumes increased 44.2% and U.S. options trading volumes increased 56.4%. Cash equities trading volumes were mixed, with European cash transactions increasing 9.1% and U.S. cash equities trading volumes declining 35.7% from the same period last year. Both European and U.S. cash trading volumes, remain above fourth quarter 2009 levels.