Updated from 5:55 a.m. ET on Thursday, June 22
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Here are five things you must know for Thursday, June 22:
1. -- U.S. stock futures were down slightly lower and global stocks slumped on Thursday, June 22, amid continued concerns over slumping oil prices.
Oil prices in the U.S. early Thursday were rising 0.8% to $42.87 a barrel, after falling on Wednesday, June 21, to $42.53 a barrel, the lowest since August. Crude oil has fallen into a bear market on worries over global oversupply and ballooning production.
"Falling oil prices continue to dampen sentiment in global macro markets," said Citigroup in a report, adding that a drop in oil prices "also hurts sentiment towards the higher-yielding emerging markets, but a steep drop in the price of oil usually spreads bearish sentiment more broadly."
Stocks in the U.S. on Wednesday took their cue from the decline in oil prices and finished to the downside. The S&P 500 dipped 0.05%, and the Dow Jones Industrial Average fell 0.25%. The Nasdaq, however, added 0.75% as biotech shares rallied.
2. -- The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET, the FHFA House Price Index for April at 9 a.m., and Leading Indicators for May at 10 a.m.
Federal Reserve Board Gov. Jerome Powell is scheduled to testify in front of the Senate Banking Committee on "Fostering Economic Growth: Regulator Perspective," in Washington, at 10 a.m.
3. -- Private-equity firm Sycamore Partners is in advanced talks to acquire Staples (SPLS) following an auction for the U.S. office supplies retailer, Reuters reported, citing people familiar with the matter.
The deal could top $6 billion, according to Reuters.
Sycamore is working to finalize a debt financing package for its bid for Staples after it prevailed over another private-equity firm, Cerberus Capital Management, three sources told Reuters.
An agreement could be announced as early as next week, though negotiations between Sycamore and Staples are continuing and there is still a possibility that talks could fall apart, the sources added.
It was reported in April by The Wall Street Journal that Staples was seeking a buyer.
Staples shares were rising 7.4% in premarket trading on Thursday.
4. -- Shares of Imagination Technologies Group PLC (IMGTY) surged 16% in London on news that the supplier for Apple Inc. (AAPL) - Get Report put itself up for sale months after the tech giant said it would stop using the chip designer's technology.
Imagination Technologies said Thursday in a regulatory filing that it has received interest from a number of parties for a potential acquisition of the whole company and "the board of Imagination has therefore decided to initiate a formal sale process for the group and is engaged in preliminary discussions with potential bidders."
Imagination Technologies' shares have fallen more than 35% since the company said on April 3 that Apple would stop using its graphics technology.
5. -- Oracle (ORCL) - Get Report was rising 10.7% after the computer technology company reported stronger-than-expected fiscal fourth-quarter earnings and revenue.
The company earned 89 cents a share in the quarter on revenue of $10.9 billion, topping Wall Street forecasts that called for earnings of 78 cents a share on revenue of $10.46 billion.
During its fourth quarter, Oracle's SaaS (software as a service) cloud revenue rose 67% from a year earlier to $964 million.
Non-GAAP SaaS fourth-quarter revenues jumped 75% to $1 billion.
"We continue to experience rapid adoption of the Oracle Cloud led by the 75% growth in our SaaS business in Q4," said Oracle CEO Safra Catz. " This cloud hyper-growth is expanding our operating margins, and we expect earnings per share growth to accelerate in fiscal 2018.
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