Stocks headed higher after another deal making
NEW YORK (AP) — Stocks are headed for a higher opening as investors weigh another round of earnings and corporate deal making.
French drug maker Sanofi-Aventis today agreed to buy Genzyme in an all-cash deal that values the U.S. biotechnology company at $20.1 billion. The deal ends months of corporate haggling between the two companies. Genzyme shares rose about 2 percent in pre-market trading.
In earnings news, Abercrombie & Fitch, Deere & Co., Comcast and Cablevision are also releasing their results before the market opens.
Ahead of the opening bell, Dow Jones industrial average futures are up 31, or 0.3 percent, at 12,233. Standard & Poor’s 500 index futures are up 4, or 0.3 percent, at 1,330. Nasdaq 100 index futures are up 6, or 0.2 percent, at 2,387.