Futures
edge lower after Dow, S&P hit records
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[February 23, 2015]
By Chuck Mikolajczak
NEW YORK (Reuters) - U.S. stock index
futures dipped on Monday, after the Dow and S&P closed at records on the
heels of an agreement by euro zone finance ministers to extend Greece's
bailout by four months provided it draws up a list of reforms.
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* Greece will present its economic reform plans on Monday to seal
the euro zone financial lifeline, but the government drew criticism
from a veteran leftist and ruling party member that the deal let
voters down. The deal is conditional on Greece's European and IMF
creditors accepting the reform list.
* The equity market gains led each of the three major Wall Street
indexes to their third weekly advance on Friday, with the Nasdaq on
an eight-session winning streak as it closed in on the 5,000 mark
for the first time in nearly fifteen years.
* Existing home sales data is due at 10:00 a.m., the first in a
flurry of economic reports this week that will help investors gauge
the strength of the housing sector.
* Canada's Valeant Pharmaceuticals International Inc <VRX.TO> agreed
to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd <SLXP.O>
in an all-cash deal valued at about $10.1 billion, the companies
said on Sunday. U.S. listed shares of Valeant <VRX.N> gained 6.2
percent to $184 while Salix slipped 0.8 percent to $156.55 in
premarket trading.
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* Asahi Kasei Corp <3407.T>, a Japanese chemicals maker, said it
would buy Polypore International Inc's <PPO.N> energy storage
segment for $2.2 billion, as it seeks to expand in the energy and
environment business. Polypore shares jumped 13.1 percent to $59.90
before the opening bell.
* Home Loan Servicing climbed 7.9 percent to $18.09 in premarket
after the company agreed to be acquired by New Residential
Investment Corp for about $1.3 billion.
* Dow component Boeing fell 1.8 percent to $155.49 after
Goldman Sachs cut its rating on the aerospace company to "sell" from
"neutral. "
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* European shares edged up in the wake of the Greece deal, although
a slightly disappointing German business morale survey held gains in
check.
* Japan's Nikkei 225 stock index hit a 15-year high, though MSCI's
broadest index of Asia-Pacific shares outside Japan slipped 0.3
percent as many countries in the region returned from Lunar New Year
holidays.
Futures snapshot at 7:35 a.m. EST (1235 GMT):
* S&P 500 e-minis were down 4 points, or 0.19 percent, with 70,362
contracts changing hands.
* Nasdaq 100 e-minis were up 1 point, or 0.02 percent, in volume of
10,590 contracts.
* Dow e-minis were down 35 points, or 0.19 percent, with
13,272 contracts changing hands.
(Editing by Bernadette Baum)
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