U.S. stock futures rose on Monday as Abu Dhabi came to a $10 billion rescue of ailing Dubai, staving off the potential for a default on a key bond that was due to expire Monday.
S&P 500 futures rose 5.7 points to 1,108.90 and Nasdaq 100 futures added 10.5 points to 1,802.50. Futures on the Dow Jones Industrial Average added 49 points.
Strong retail-sales data helped push U.S. stocks higher on Friday, with the Dow Jones Industrial Average rising 65 points and the S&P 500 advancing 4 points, though the Nasdaq Composite retreated marginally. Over the week, the S&P 500 advanced a slender 0.04%.
Bank of America Corp. pushed closer over the weekend to hiring its next CEO, but compensation remains an obstacle despite the bank’s escape from government restrictions on executive pay. Bank of America Corp. (NYSE:BAC, $15.63, +$0.42, 2.76%) fell 0.06 percent to $15.62 on Monday morning pre-market trading session, while on last week Friday, shares of Bank of America rose 2.76 percent, closed on $15.63 and BofA dropped 2.19 percent in the past one month trading.
Citigroup (C) reached an agreement with the U.S. Treasury to repay $20 billion of government aid. The New York bank will issue $20.5 billion in securities to pay for the deal, and could issue another $3 billion worth of notes in the first quarter of 2010. Citigroup Inc. (NYSE:C, $3.95, +$0.08, 2.07%) dropped 3.04 percent to $3.83 on Monday morning pre-market trading session, while on last week Friday, Citigroup shares jumped 2.07 percent, closed on $3.95.
Shares of Sun Microsystems (JAVA) climbed in pre-market trade after Oracle reported that it had constructive discussion with the European Commission to buy Sun Microsystems. Sun Microsystems, Inc. (NASDAQ:JAVA, $8.36, -$0.16, -1.88%) rose 9.81 percent to $9.18 on Monday morning pre-market trading session, while on last week Friday, shares of Sun Microsystems fell 1.88 percent and closed on $8.36.
Google is working on an own brand – android based smartphone, it plans to sell directly to consumers as soon as next year, one that might bear the name Nexus-one. Google Inc. (NASDAQ:GOOG, $590.51, -$0.99, -0.17%) jumped 1.05 percent to $596.70 on Monday morning pre-market trading session, while on last week Friday, Google shares dropped 0.17 percent, closed on $590.51.
Luna Innovations announced a settlement agreement with Hansen Medical that resolves litigation between the two and clears the “largest hurdle on (Luna’s) pathway to emerge” from bankruptcy. Under the agreement, Luna’s fiber-optic shape-sensing technology will be used in Hansen’s surgical robots and Hansen will receive a 9.9% stake in Luna. Luna also said it filed with the bankruptcy court plans to emerge from Chapter 11 protection as “soon as possible,” including how it will pay all of its “due and payable” claims and allow stockholders to retain their shares. Luna Innovations Incorporated (NASDAQ:LUNA, $1.47, -$0.02, -1.34%) rose 36.05 percent to $2.00 on Monday morning pre-market trading session, while on last week Friday, shares of Luna Innovations fell 1.34 percent, closed on $1.47 and Hansen Medical, Inc. (NASDAQ:HNSN, $2.67, -$0.18, -6.32%) jumped 16.10 percent to $3.10 on Monday morning pre-market trading session, while on last week Friday, Hansen Medical shares dropped 6.32 percent, closed on $2.67.
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