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

By: MT Newswires
Posted: 3/31/2014 9:06:00 AM
Referenced Stocks: JNJ;PRAN

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