MARKET PULSE- Facebook, AMD, Netflix, Merck, Newmont Mining, Mannkind
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)
Wall Street was set for a lower open on Monday, focused on events in Washington after weekend talks between Republicans and Democrats showed some progress but left alive the risk of a possible U.S. default in three days, pressuring stocks. S&P 500 futures fell 12.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 106 points and Nasdaq 100 futures lost 19.25 points.
** FACEBOOK INC, Friday close $49.11, down 1.5 pct premarket
The social networking company said it would buy start-up app-maker Onavo, the Israeli firm said on its website, without giving any details of the deal. Facebook is paying between $150 million and $200 million, the Calcalist financial news website reported, making it the social media company's biggest acquisition in Israel.
** NETFLIX INC, Friday close $300.84, up 3 pct premarket
The company is in talks with several U.S. cable television companies including Comcast Corp and Suddenlink Communications to make its streaming video service available through their set-top boxes, the Wall Street Journal reported on Sunday, citing people familiar with the matter.