U.S. stock index futures indicated Thursday that early gains were on tap for Wall Street, as investors awaited government data that will be weighed for further evidence that the largest global economy is beginning to recover.
S&P 500 futures rose 2.2 points to 1117.8, while futures for the Nasdaq 100 gained 3 points to 1855.25. Dow Jones Industrial Average futures rose 20 points.
Bank of America has said it will dedicate more money to small business loans in the wake of requests by various businessmen and government officials who are calling for more lending from banks to be made for small businesses. Bank of America received a bailout from taxpayers and began tightening its lending practices for small business loans, but backlash has caused them to rethink their position. Bank of America Corp. (NYSE:BAC, $15.19, -$0.14, -0.91%) rose 0.46 percent to $15.26 on Thursday morning pre-market trading session, while on Wednesday, shares of Bank of America fell 0.91 percent, closed on $15.19 and BofA dropped 6.75 percent in the past one month trading.
Citigroup Inc. (C) announced Wednesday that it has repaid the $20 billion it received from the government last year as part of the Troubled Asset Relief Program (TARP). The move frees the bank from employee pay restrictions in 2010 that regulators imposed as part of the financial aid. Citigroup Inc. (NYSE:C, $3.29, -$0.05, -1.5%) jumped 0.61 percent to $3.31 on Thursday morning pre-market trading session, while on Wednesday, Citigroup shares dropped 1.50 percent, closed on $3.29.
Questcor Pharmaceuticals said the Food and Drug Administration has accepted the company’s application seeking to sell its H.P. Acthar Gel as a treatment of infantile spasm. The injectible drug is already in use by neurologists to treat infantile spasm, though the FDA hasn’t allowed Questcor to market it for such use. Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR, $4.32, +$0.01, 0.23%) rose 29.63 percent to $5.60 on Thursday morning pre-market trading session, even on Wednesday, shares of Questcor climbed 0.23 percent, closed on $4.32.
YRC Worldwide Inc. (YRCW) again extended its debt-for-equity offers as it continues to work with its lenders to raise the level of support for the crucial deal. The trucking company on Wednesday said that about 80% of the notes had been tendered as of 5 p.m. EST, up from 75% last week. The offer’s deadline was extended 5 days to 11:59 p.m. Monday. YRC Worldwide Inc. (NASDAQ:YRCW, $0.951, -$0.189, -16.58%) jumped 7.28 percent to $1.020 on Thursday morning pre-market trading session, while on Wednesday, YRC shares dropped 16.58 percent, closed on $0.951.
Heart-device maker Boston Scientific Corp. (BSX) agreed to pay $22 million to settle a Justice Department probe of allegations that its Guidant unit paid kickbacks to doctors to get them to use its heart devices. Boston Scientific didn’t admit wrongdoing as part of the civil settlement. Boston Scientific Corp. (NYSE:BSX, $8.82, +$0.02, 0.23%) doesn’t has changes on Thursday morning pre-market trading session, even on Wednesday, shares of Boston Scientific rose 0.23 percent, closed on $8.82.
Bunge Ltd. (BG), an agribusiness and food-processing company, agreed to acquire Usina Moema Participacoes SA, which owns a Brazilian sugar cane mill and has ownership interest in five others, for $452 million in stock. Bunge Limited (NYSE:BG, $61.97, +$0.15, 0.24%) doesn’t has changes on after-hour trading session, even on Wednesday, Bunge shares jumped 0.24 percent, closed on $61.97.
U.S. financial markets will close early for Christmas Eve and will remain closed Friday for Christmas.
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