(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures rose on Monday, following the worst week for the S&P 500 in more than two years, with investors focused on a rebound in crude oil prices which earlier hit a fresh 5-1/2-year low.
Dow Jones industrial average futures were up 0.66 percent at 17,370, S&P 500 futures were up 0.75 percent at 2,012.25 and Nasdaq 100 futures were up 0.86 percent at 4,225.5.
** EMERSON ELECTRIC CO, Friday close $58.43, +2.46 pct premarket
** REGAL BELOIT CORP, Friday close $68.38, +9.68 pct premarket
Emerson said it would sell its power transmission business to Regal Beloit, a maker of electric motors, for $1.44 billion. The unit makes parts under brands such as Browning, Kop-Flex and Rollway and had revenue of more than $600 million in 2014.
** PETSMART INC, Friday close $77.67, +4.54 pct premarket
The pet supply retailer succumbed to calls from some shareholders for a sale on Sunday with an agreement to be bought by a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged buyout of the year. The offer price is $83.00 per share in cash.
** HONEYWELL INTERNATIONAL INC, Friday close $95.88, +0.45 pct premarket
The diversified manufacturer of aircraft parts and electronic equipment forecast 2015 revenue below market estimates as it expects only modest economic growth in most regions across the world. The company also cut its fourth-quarter sales forecast to $10.10-$10.20 billion from $10.30-$10.40 billion.
** PETROLEO BRASILEIRO SA, Friday close $7.11, -2.39 pct premarket
The Brazilian state-run oil company delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe.
** CIRRUS LOGIC INC, Friday close $18.84, +5.15 pct premarket
Barclays raised its price target on the audio chipmaker’s stock to “overweight” from “underweight” and hiked its price target to $28.
** SKYWORKS SOLUTIONS INC, Friday close $69.1, +1.09 pct premarket
JMP Securities raised its price target on the radio frequency chipmaker’s stock to $95 from $75
** KINROSS GOLD CORP, Friday close $2.96, -5.41 pct premarket
The gold miner’s Toronto-listed stock will be removed from the S&P/TSX composite index, effective after the market closes on Dec 19.
** AMERICAN AIRLINES GROUP INC, Friday close $49.97, +1.46 pct premarket
** ELECTRONIC ARTS INC, Friday close $44.895
** LAM RESEARCH CORP, Friday close $78.375, +0.77 pct premarket
** EXPEDIA INC, Friday close $87.53
** F5 NETWORKS INC, Friday close $130.545
** MAXIM INTEGRATED PRODUCTS INC, Friday close $30.625
Nasdaq OMX Group announced the results of its annual re-ranking of the Nasdaq 100 index, which comprises the 100 largest non-financial companies listed on the exchange.
American Airlines, Electronic Arts and Lam Research will be added to the index, while Expedia, F5 Networks and Maxim Integrated will be removed effective Dec. 22.
Deutsche Bank raised its price target on American Airlines stock to $67 from $54.
** CHINA HGS REAL ESTATE INC, Friday close $4.48, +9.60 pct premarket
** CHINA FINANCE ONLINE CO LTD, Friday close $7.62, +1.57 pct premarket
** JUMEI INTERNATIONAL HOLDING LTD, Friday close $13.5, +5.19 pct premarket
** CHEETAH MOBILE INC, Friday close $15.65
** DAQO NEW ENERGY CORP, Friday close $24.7
** LEJU HOLDINGS LTD, Friday close $10.83
** CHINA INFORMATION TECHNOLOGY INC, Friday close $4.305
Nasdaq OMX Group announced the results of the quarterly re-ranking of the Golden Dragon China Index.
Cheetah Mobile, DAQO, China HGS, Jumei, China Finance and Leju Holdings will be added to the index, effective before the market opens on Dec. 22. China Information Technology will be removed from the index.
** MAGNUM HUNTER RESOURCES CORP, Friday close $3.32, -1.51 pct premarket
The company said its unit, Triad Hunter LLC, “experienced a loss of control” of a well in Ohio on Dec. 13. The well, which had been temporarily plugged and abandoned, began to flow uncontrollably while recommencing production operations.
Compiled by Anannya Pramanick in Bangalore; Editing by Savio D'Souza