US Futures Gain At Quarter-End Before Yellen Speaks; J&J Takes $4 Bln Bid For Ortho-Clinical Unit

By Staff,

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U.S. stock futures were gaining Monday before U.S. Federal Reserve Chair Janet Yellen prepared to speak later this morning at 09:55 a.m. Yellen's remarks will be closely watched after she earlier this month suggested a mid-2015 rate hike.

It is set to be a quiet day in economic data except for the Chicago PMI at 09:45 a.m., seen slipping to 59.0 in March from 59.8 in February and the Dallas Fed manufacturing survey index at 10:30 a.m., which is seen rising to 3.0 for March from 0.3 in February.

In equities, Johnson & Johnson ( JNJ ) edged higher 0.6% in recent premarket trade after accepting Carlyle's $4 billion offer for its ortho-clinical diagnostics unit. Meanwhile, Prana Biotechnology ( PRAN ) was recently down 66% after saying that a 12-month phase II imaging trial in Alzheimer's Disease didn't meet its endpoint.


-Dow Jones Industrial up 0.51%

-S&P 500 futures up 0.52%

-Nasdaq 100 futures up 0.62%

-Nasdaq-100 Pre-Market Indicator up 0.60%


Nikkei up 0.90%

Hang Seng up 0.39%

Shanghai Composite down 0.26%

FTSE-100 up 0.28%

DAX-30 up 0.15%


(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: unchanged to higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: unchanged to higher

(+) Industrial stocks: unchanged to higher

(+) Airlines: higher

(+/-) Autos: mixed


(+) MNGA (+13.3%) Enters JV to develop new fuel technologies

(+) BIOF (+31.5%) Receives non-binding proposal to buy JBGL

(+) CLNT (+38.1%) Q4 revenue rises 29%

(+) HALO (+9.0%) Diabetes drug trial reaches primary endpoint

(+) SYN (+6.5%) 2013 loss narrows on lower costs

(+) CYTR (+6.1%) Gets EU orphan label for soft tissue sarcoma drug

(+) LULU (+3.1%) Wedbush upgrades to outperform


(-) CEO (-0.7%) UBS downgrades to neutral from buy

(-) MNKD (-6.8%) Piper Jaffray downgrades to underweight from neutral

(-) BBRY (-0.1%) Needham upgrades to hold from underperform

(-) CDTI (-11.1%) Drops on report of another Q4 net loss

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: JNJ , PRAN

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