U.S. stock futures are higher this morning as investors wait for Alcoa, the largest U.S. aluminium producer, to report quarterly earnings after the bell. Analysts are expecting the company to report a strong first-quarter profit due to higher metal prices and increased demand.In other news NYSE Euronext rejected the $11.3 billion offer from Nasdaq OMX Group and Intercontinental Exchange and is planning to go ahead with a deal with Deutsche Boerse.
There are bunch of earnings reports coming out today and a lot of big ones are scheduled for this week including JPMorgan and Bank of America.
REJECTED OFFER: The NYSE Euronext board rejected the $11.3 billion bid from Nasdaq and IntercontinentalExchange. It will be going forward with a deal with original bidder, Deutsche Boerse.
EARNINGS WATCH: Skystar Bio-Pharmaceutical is expected to report earnings of $0.57 per share for Q4.
ACQUISITION DEAL: Endo Pharmaceuticals will acquire American Medical Systems Holdings for $2.6 billion.
ANALYST DOWNGRADE: Citi downgraded Cooper Industries from buy to hold. Shares are down slightly in pre-market trading.
ANALYST UPGRADE: Morgan Stanley upgraded Transocean from equalweight to overweight. Shares are up 3% in pre-market trading.
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