BUZZ-U.S. STOCKS ON THE MOVE-Citigroup, Polycom, SunEdison
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U.S. stocks were set to open lower on Friday as investors worried about whether a potential deal by major oil producers to freeze output would be enough to tackle a global oversupply: Dow Jones industrial average futures were down 0.08 percent at 17,828, S&P 500 futures were down 0.13 percent at 2,073.75 and Nasdaq 100 futures were down 0.18 percent at 4,538.
** CITIGROUP INC, Thursday close $44.98, +2.73 pct premarket
The No.4 U.S bank reported a 27 percent plunge in its quarterly profit that topped analysts' tempered estimates.
** POLYCOM INC, Thursday close $12.27, +0.24 pct premarket
** MITEL NETWORKS CORP, Thursday close $7.88, -7.49 pct premarket
Mitel, the Canadian telecom services provider, said it would buy fellow voice and telephony gear maker Polycom Inc for about $1.96 billion in cash and stock, satisfying a demand from hedge fund Elliott Management.