Market news
24.06.2011, 13:33

Before the bell:

Stocks were headed for a flat open as investors digested reports on U.S. gross domestic product and durable goods orders.
Futures pulled back from an earlier rise that was fueled by an austerity agreement reached among Greek leaders, the European Union and IMF.
Economy: The Commerce Department's final reading on first-quarter GDP came in at 1.9%. Economists had expected GDP to remain steady at the previous revision of 1.8%.
Durable goods orders rose 1.9% in May, slightly higher than the 1.5% increase economists had been expecting. That's an improvement from April's downwardly revised 2.7% decline in orders.
World markets:


Companies: Shares of Southern Union (SUG) jumped 15% in premarket trading, after Williams (WMB, Fortune 500) offered to buy the pipeline company for $39 per share in cash. That tops Energy Transer Equity's (ETE, Fortune 500) earlier bid for the company.
Oracle (ORCL, Fortune 500) reported earnings after the bell Thursday. While earnings were in line with expectations, the company's software division struggled. Shares of Oracle slipped more than 3% in premarket trading.
Micron Technology's (MU, Fortune 500) weak earnings results sent shares of the company tumbling 12% before the opening bell.
Shares of ConAgra Foods Inc. (CAG, Fortune 500) slumped more than 3% in premarket trading, after the food company reported disappointing fourth-quarter earnings Thursday. The company said its bottom line is being hit by rising food prices and that profits in the current quarter are expected to decline.
Newell Rubbermaid's (NWL, Fortune 500) stock jumped more than 3% after the company named former Unilever (UN) executive Michael Polk as its new chief executive. Polk will succeed Mark Ketchum, who is retiring but will remain a director.
Other notable premarket movers included Public Storage (PSA), Scripps Networks (SNI), and Comcast (CMCSA, Fortune 500). Tiffany and Co. (TIF), First Solar Inc. (FSLR) and Radio Shack (RSH, Fortune 500) were down more than 1% before the opening bell.
Oil for August delivery gained 23 cents to $91.25 a barrel.
Gold futures for August delivery fell $1.30 to $1,519.20 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, yielding 2.91%

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