MARKET PULSE- BlackBerry, J.C. Penney, Yahoo, Nektar, Nike
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49sfor the Morning News Call newsletter link.reuters.com/nex49s) U.S. stock index futures fell on Friday as deadlines for a political agreement in Washington that would keep the U.S. government running and avoid a debt default loom, with no clear solution in sight. S&P 500 futures fell 7 points, Dow Jones industrial average futures fell 50 points, and Nasdaq 100 futures lost 11 points.
** BLACKBERRY LTD, Thursday close $7.95, down 2.3 pct premarket
The company reported a nearly $1 billion quarterly loss on Friday, days after accepting its largest shareholder's tentative $4.7 billion bid to take it out of the public eye.
** J.C. PENNEY CO INC, Thursday close $10.42, down 6 pct premarket
The struggling department store operator expects to raise up to $932 million from a share sale, leaving it with about $2.2 billion in cash at the end of the year. J.C. Penney, whose shares have been hit by concerns that it does not have enough cash to fund its operations going into the holiday season, said it would sell 84 million shares in a public offering at $9.65 per share.
** YAHOO INC, Thursday close $32.75, up 2 pct premarket
The U.S. Internet company joined Japan's SoftBank Corp in backing Alibaba Group Holding Ltd's planned partnership structure. Yahoo, which owns 24 percent of Alibaba, stands to reap huge windfalls from an IPO as Alibaba's market valuation would add billions of dollars to the two companies' assets. Yahoo is also keen to sell part of its stake. Continued...