سهم بوعمر خبر وارتفاع ,,,, كم تتوقعوStocks Set to Open Higher on Merger News
Monday April 25, 8:34 am ET
Stocks Are Set to Open Higher As Traders Digest a Slew of Merger-Related News
NEW YORK (AP) -- U.S. stock futures are higher Monday, as traders digest a slew of merger-related news and prepare for more first-quarter results.
Dow Jones futures were recently up 14 points, Nasdaq futures were higher by 3 points, and S&P futures also were up 1.80 point.
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In Japan, the Nikkei index ended up 0.3 percent at 11073.77 on gains in defensive stocks such as utilities and pharmaceutical companies.
In London, the FTSE 100 index was recently down 0.08 percent to 4845.3, as climbing oil prices are once again seen putting pressure on stocks.
In U.S. corporate news, Valero Energy Corp. said Monday it agreed to acquire refiner Premcor Inc. for $6.9 billion in cash and stock plus the assumption of about $1.8 billion of debt - a move that would create the largest refiner of crude oil in North America and mark a major step in the U.S. industry's rapid consolidation. The deal would give Valero total refining capacity of 3.3 million barrels a day, vaulting it over Exxon Mobil Corp. in North America. Valero would claim about 13 percent of the U.S. market for refined products.
Internet advertising-technology and data company DoubleClick Inc. said Monday it agreed to be acquired by private-equity firm Hellman & Friedman for about $1.1 billion. DoubleClick stockholders will receive $8.50 a share, representing a 10.6 percent premium over the average closing price of DoubleClick's stock for the past 30 trading days. DoubleClick shares ran up strongly late last week on media reports that Hellman was close to a deal with the company.
Over the weekend, MCI Inc. finally embraced a takeover bid from Qwest Communications International Inc., declaring the Qwest offer of $9.74 billion, or $30 a share, superior to MCI's accepted merger with Verizon Communications Inc. In declaring Saturday for the first time that Qwest's bid was superior, MCI said that Verizon will have five business days to respond with a revised proposal. Verizon isn't giving up and is likely to raise its current bid of $7.5 billion, or $23.10 a share, possibly later this week, The Wall Street Journal reported Monday, citing people familiar with the situation.
General Electric Co. is in talks to sell its self-storage business for around $2.5 billion to a Prudential Financial Inc. unit and Extra Space Storage Inc., the Journal reported Monday, citing people familiar with the discussions. The deal could take place as early as this week, although details of the transaction including the price are still being finalized. Storage USA is part of GE Commercial Finance, the biggest unit at the conglomerate. GE acquired Storage USA in 2002 when it bought Security Capital Group in a $5.4 billion transaction.
Former New York Stock Exchange director Kenneth Langone is attempting to bid for the NYSE in a move that could throw a wrench into the Big Board's plans to acquire electronic trader Archipelago Holdings, the Journal reported Monday. Late last week, after the NYSE-Archipelago announcement, the Home Depot Inc. co-founder and friend of former NYSE chief Dick Grasso quietly reached out to a number of Wall Street chief executives, asking if they would be interested in participating in a bid to acquire the NYSE.
Broadwing Corp. rose in after hours trading Friday after the company said its president was stepping down as it shifted focus from its communications-equipment activities to be a pure telecom-services company. Medtronic Inc. widened its voluntary recall on heart devices, adding another 396 automated external-defibrillation devices to the list.
On Monday, analysts expect Archipelago to report earnings of 26 cents a share in the fiscal second quarter. SBC Communications Inc. is expected to come with its first-quarter numbers. Analysts set the mark for the San Antonio company at 33 cents a share. The Street is looking for Exelon Corp. to post 64 cents a share for the first quarter. Huntington Bancshare Inc., Kimberly-Clark Corp., Cendant Corp., Providian Financial Corp. and Altera Corp. (ALTR) are also expected to report Monday.
Economists look for existing home sales to hold steady in March at an annual rate of 6.77 million, inching down 0.3 percent from the prior month. The National Association of Realtors is due to report on existing home sales at 10 a.m. EDT.
On Friday, the Dow Jones Industrial Average gave back most of Thursday's gains - the best one-day gain in two years - before paring its losses in the last half-hour of trading. Down 148 points at a session low, the Dow closed down 60.89 points, or 0.6 percent, to 10157.71. The Nasdaq Composite Index, home to many technology stocks, lost 30.22, or 1.5 percent, to 1932.19. The broad Standard & Poor's 500 Index fell 7.83, or 0.7 percent, to 1152.12.
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