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Futures rise as Blackberry scotches deal

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
Monday, November 04, 2013 09:20 am
NEW YORK — U.S. stock futures rose Monday and major U.S. averages appeared ready to test record or multi-year highs again this week.Volume was muted however, with the delayed jobs report for October due out Friday. The report and other federal data were not released during of the 16-day partial government shutdown.

Dow Jones industrial futures are up 48 points to 15,590. S&P futures have gained 6 points to 1,760.70. Nasdaq futures are up 16.25 points to 3,384.25.

Corporate news broke early to begin the week, with the smartphone pioneer Blackberry abandoning a sale of the company Monday and announcing the departure of CEO Thorsten Heins.

Company shares plunged almost 19 percent before trading was halted before the opening bell.

Monday was the deadline for Blackberry to seal a $4.7 billion deal to sell itself to Fairfax Financial Holdings, which owns close to 10 percent of the company.

At some point this week, Twitter is expected to announce its initial public offering.

There are also some major earnings out this week, including Tesla, Whole Foods, Walt Disney and Kellogg.

Also, on Monday, the government releases its monthly report on factory orders.

Economists believe that orders rose 1.1 percent in September, compared with August, according to a survey of economists by FactSet.


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