National News

Feb 24, 2014 9:23 AM by Associated Press

US stock futures rising on deal making

NEW YORK (AP) - US stock futures are edging higher as investors assess some major takeovers on a day in which there will be few significant earnings reports or economic indicators.

KEEPING SCORE: The Dow Jones industrial average futures are up 24 points to 16,117 as of 9:06 a.m. Eastern time. The Standard & Poor's 500 index futures have gained four points to 1,838 and the Nasdaq futures are up nine points to 3,673.

SUIT SAGA: Jos. A Bank is up $4.35, or 7.8 percent, to $59.30 in premarket trading after the Men's Wearhouse said it was stepping up its pursuit of the clothing retailer, boosting the takeover offer for its rival by 10 percent to about $1.78 billion.

THE CHIPS ARE UP: RF Micro Devices is up $1.07, or 18 percent, to $6.90 before the open after the chip maker said it was combining with TriQuint Semiconductor in an all-stock deal valued at about $1.56 billion. TriQuint's stock rose $2.12, or 23 percent, to $11.35.

STREAMING DEAL: Netflix and Comcast are both trading higher after the two companies agreed a deal to ensure that the online video services' TV shows and movies are streamed smoothly. No details were released about the cost to Netflix. Netflix is up $5.52, or 1.3 percent, to $437.78. Comcast gained 74 cents, or 1.4 percent, to $51.79.

TREASURYS AND COMMODITIES: The yield on the 10-year Treasury note is unchanged from Friday at 2.74 percent. The price of oil is up 55 cents to $102.75 a barrel. Gold is up $8.20 to $1,331.90 an ounce.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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