Photo: Lucie Debelkova
U.S. stock futures are lower ahead of ISM Services data later this morning. Follow the release at Money Game > Portugal was downgraded again by Moody’s, indicating it is even closer to a bailout. Texas Instrument’s announced a $6.5 billion acquisition of National Semiconductor after the closing bell yesterday.
NSM shares are up 71% which has boosted other tech stocks.
Apple shares were down over 1% on the news that its weighting in the Nasdaq 100 would be reduced. There was also some earnings news already out and there is more to come.
Here is a roundup of earnings so far:
- Layne Christensen beat analyst expectations
- Schnitzer Steel beat analyst expectations
- KB Home will report its earnings later today
DISTRIBUTION DEAL: American Airlines restored its ticket distribution deal with Expedia. Expedia shares were up 5% in after-hours trading.
SHARE WEIGHTING CUT: Apple shares are down over 1% after having its weighting cut from in a rebalancing of shares in the Nasdaq 100. It is expected to be 12.3% of the index compared with its current 20.49%.
ACQUISITION DEAL: Texas Instruments agreed to buy National Semiconductor Corp for $6.5 billion. National Semiconductor shares are up 71% in pre-market trading.
LOWERED OUTLOOK: Meru Networks cut its outlook for Q1 revenue. Shares fell over 9% in after-hours trading.
STRATEGIC ALLIANCE: JA Solar Holdings entered into a 2-year partnership with Jabil Circuit. JA Solar shares were up 2% in after hours trading.
SHARE RISE: Linear Technology is up over 2% in pre-market trading on the Texas Instruments and National Semiconductor deal.
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