U.S. stock futures on Tuesday edged higher ahead of data on pending home and car sales.
S&P 500 futures rose 1.5 points to 1130.30 and Nasdaq 100 futures added 1.25 points to 1888.00. Futures on the Dow Jones Industrial Average rose 16 points.
U.S. stocks rallied Monday to start the trading year, with the Dow Jones Industrial Average rising 156 points, the S&P 500 gaining 16 points and the Nasdaq Composite jumping 39 points.
Bank of America Corp (NYSE: BAC) CEO Brian Moynihan recently said in a speech to the North Carolina Bankers Association that he expects the economy to face a slow recovery that will include a high unemployment rate. Moynihan also expressed concerns over the re-instatement of the Glass-Steagall Act. Bank of America Corp. (NYSE:BAC, $15.69, +$0.63, 4.18%) rose 0.45 percent to $15.76 on Tuesday morning pre-market trading session, even on Monday, shares of Bank of America climbed 4.18 percent, closed on $15.69 and BofA dropped 3.98 percent in the past one month trading. After 60 days later shares of Bank of America gained more than 60 cents.
Citigroup Inc. (C) has reached an agreement to sell its LavaFX foreign-exchange electronic trading platform to FXall, according to a statement Monday by FXall. FXall said that through the acquisition of Citi’s LavaFX, its client base will total 1,000. Independent research firm Aite Group said the acquisition would “further strengthen FXall’s value to the [foreign-exchange] markets.” Citigroup Inc. (NYSE:C, $3.40, +$0.09, 2.72%) jumped 0.59 percent to $3.42 on Tuesday morning pre-market trading session, even on Monday, Citigroup shares were higher 2.72 percent, closed on $3.40.
Apple Inc. (AAPL) is set to announce that it’s buying mobile advertising firm Quattro Wireless for $275 million, according to a report on All Things Digital. Apple Inc. (NASDAQ:AAPL, $214.01, +$3.34, 1.58%) rose 0.64 percent to $215.29 on Tuesday morning pre-market trading session, even on Monday, shares of Apple Inc. climbed 1.58 percent, closed on $214.01.
Google Inc. (GOOG) will be in the spotlight as it’s holding a media day for what many believe to be the introduction of its own phone that runs on the Android operating system it makes. Google Inc. (NASDAQ:GOOG, $626.75, +$6.77, 1.09%) jumped 0.22 percent to $628.15 on Tuesday morning pre-market trading session, even on Monday, Google shares were up 1.09 percent, closed on $626.75.
Kraft Foods Inc. (KFT) said it’s going to sell its frozen-food business to Nestle S.A. (NSRGY) and lift the cash component, but not overall offer, for Cadbury PLC (CBY). Nestle also took itself out of the running over buying all or part of Cadbury. Kraft Foods Inc. (NYSE:KFT, $27.43, +$0.25, 0.92%) rose 2.26 percent to $28.05 on Tuesday morning pre-market trading session, even on Monday, shares of Kraft Foods climbed 0.92 percent, closed on $27.43.
Merix Corp. (MERX) swung to a fiscal second-quarter profit as the company reported surging margins, which offset lower sales. For the second quarter ended Nov. 28, the company earned $464,000, or 2 cents a share, compared with a loss of $6.1 million, or 29 cents a share, a year ago. Merix Corporation (NASDAQ:MERX, $2.32, -$0.13, -5.31%) jumped 22.84 percent to $2.85 on Monday after hours trading session, while on Monday, Merix shares dropped 5.31 percent, closed on $2.32.
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