US STOCKS-Futures higher on M&A after down week

lunes 14 de julio de 2014 07:40 GYT

* Shire accepts Abbvie takeover offer

* Citigroup to pay $7 bln to settle investigation

* Futures up: Dow 57 pts, S&P 6.75 pts, Nasdaq 18.25 pts

By Chuck Mikolajczak

NEW YORK, July 14 (Reuters) - U.S. stock index futures rose on Monday, after the S&P 500 suffered its worst weekly decline since April and the latest flurry of merger activity.

* London-listed drugmaker Shire Plc succumbed to an increased 31 billion pounds ($53 billion) takeover offer from Abbvie Inc, ending a long-running courtship largely motivated by tax rates. U.S.-listed shares of Shire rose 2.4 percent to $255.10 while Abbvie shed 0.7 percent to $54.56 in premarket trade.

* Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics business outside the United States in an all-stock transaction valued at about $5.3 billion. Mylan shares jumped 9.6 percent to $55 before the opening bell. Abbot shares rose 2.3 percent in light premarket trade.

* Citigroup Inc shares rose 1.4 percent to $47.65 in premarket after it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. The bank is also expected to post earnings on Monday.

* Earnings season will pick up speed this week, with 50 S&P 500 components scheduled to report. S&P 500 profits are seen growing 6.1 percent in the second quarter, according to Thomson Reuters data, down from the 8.4 percent growth forecast at the start of April. Revenue is seen up 3 percent.   Continuación...