US stocks were pointing to a higher open Tuesday after having
recorded drops of over 2% Monday. At 10.00 a.m., a report on U.S.
factory orders in December is expected to show a 1.8% decline
following a 1.8% increase in November.
Also today, Richmond Fed President Jeffrey Lacker and Chicago
Fed President Charles Evans will speak on economic outlook and
monetary policy. Both have expressed support for the current plan
to continue tapering the Federal Reserve's asset purchases. Lacker
is due to speak at 08:30 a.m. and Evans will speak at 12:30 p.m.
Neither are voters on the Fed's open market committee.
In equities, the provider of specialty semiconductor materials
) soared 25% after Entegris (
) agreed to buy the company for $1.15 billion or $34.00 per share
in cash, a 26.3% premium to the closing price on Feb. 3. ENTG was
higher nearly 9% before the market open. Meanwhile, luxury
lifestyle clothing and accessories company Michael Kors (
) jumped 19% after fiscal Q3 earnings and guidance for Q4 exceeded
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.