Stock futures flat after
five-day winning streak
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[June 20, 2014]
By Chuck Mikolajczak
NEW YORK (Reuters) - U.S.
stock index futures were little changed on Friday, on
the heels of a five-day rally in the S&P 500 that sent
the benchmark index to its latest record high, putting
it on track for its fourth weekly gain in the last five.
* Investors may see a spike of volume and volatility at the open and
toward the closing bell as Friday marks a "quadruple witching" day -
the expiration of stock options, index options, index futures and
single-stock futures - as traders close hedging positions or roll
them over at the last minute.
* Oracle Corp shares were down 5.5 percent to $40.19 before
the opening bell after it posted fourth-quarter results that
disappointed investors looking for more progress against rivals
selling web-based services.
* Five days of gains in the benchmark S&P index marked its longest
winning streak since mid-April. For the week, the index is up 1.2
percent, while the Dow is up 0.9 percent and the Nasdaq has gained
* S&P 500 e-mini futures were up 0.5 point and fair value - a
formula that evaluates pricing by taking into account interest
rates, dividends and time to expiration on the contract - indicated
a flat open. Dow Jones industrial average e-mini futures rose
3 points and Nasdaq 100 e-mini futures added 1.75 points.
* Darden Restaurants lost 2.5 percent to $48.30 in light premarket
trade after the chain restaurant operator reported fourth-quarter
* Midstream energy company Targa Resources Corp said it was no
longer in discussions with Energy Transfer Equity LP, the pipeline
company controlled by billionaire Kelcy Warren, regarding a deal.
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* U.S.-listed shares of Shire jumped 13.6 percent to $217.82
in premarket trading after it rejected a 27 billion-pound ($46
billion) takeover offer from U.S. rival AbbVie, the latest attempt
by a U.S. healthcare firm to tap into the London-listed group's low
* The rally in Shire helped European bourses hold on to gains.
* Japan's Nikkei ended slightly lower after touching a fresh
five-month peak, while MSCI's broadest index of Asia-Pacific shares
outside Japan ran out of steam, easing 0.4 percent on losses in
South Korea and China.
(Editing by Bernadette Baum)
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