US STOCKS-Wall Street set to dip at open on growth concerns

lunes 19 de mayo de 2014 08:56 GYT

* AstraZeneca rejects sweetened Pfizer offer

* AT&T to buy DirecTV for $48.5 billion

* Futures off: Dow 42 pts, S&P 4 pts, Nasdaq 6.5 pts (Adds Campbell Soup earnings, updates prices)

By Chuck Mikolajczak

NEW YORK, May 19 (Reuters) - U.S. stocks were set to dip at the open on Monday, on the heels of back-to-back weekly declines for the S&P 500 as investors grew cautious over stock valuations with indexes near record levels amid mixed economic data.

* U.S. listed shares of AstraZeneca slumped 8.8 percent to $73.20 in premarket trade after the British drugmaker rejected a sweetened and "final" merger offer from Pfizer which would have created the world's largest pharmaceuticals group. Pfizer shares advanced 1.7 percent to $29.60 before the opening bell.

* AT&T lost 2.5 percent to $35.83 in premarket trade after the telecom company said it will acquire DirecTV for $48.5 billion, highlighting AT&T's pressing need for fresh avenues of growth beyond the maturing U.S. cellular business. DirecTV shares lost one cent at $86.17 in premarket.

* Equities have come under pressure recently, with consecutive weekly declines for the first time since January as investors have become leery of growth prospects as a result of mixed economic data.   Continuación...