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Article: Stock futures push higher amid latest earnings
- Article from:
- AP Online
- Article date:
- July 23, 2009
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U.S. stock futures are pushing higher Thursday amid news of dealmaking and a barrage of earnings reports.
The rise in futures comes after gains in Asia and amid relatively flat markets in Europe.
A wave of merger-and-acquisition activity gave investor confidence a boost early Thursday. Bristol-Myers Squibb Co. said late Wednesday it is buying Medarex Inc. for about $2.1 billion in cash, the latest in a string of acquisitions by the drugmaker.
The New York-based company said it will pay $16 a share for Medarex _ a 90 percent premium over Medarex's closing share price Wednesday of $8.40. Medarex shares nearly doubled in premarket trading, jumping $7.48 to $15.88
Meanwhile, Amazon.com Inc. agreed ...