Investors and traders gearing up for the long holiday weekend can take at least a little cheer with them from the market. Signs this morning are pointing to a positive start of the trading day.
Almost all the most active stocks on
, the brokerage where investors can get in their trades before the opening bell, are in positive territory. The biggest gainer is
, which is being acquired by
for $5.1 billion in cash, including the assumption of $1.3 billion in debt. Litton was climbing 22.2% to $76.50. Los Angeles-based Northrop said yesterday afternoon that it will pay $80 a common share and $35 per Series B preferred share to make Woodland Hills, Calif.-based Litton a wholly owned subsidiary. The common-stock offer price for Litton represents a 27.7% premium above Thursday's close.
took a look at
Other gainers in the preopen market include
, up 12.8%, and
, up 3.1%.
At 7:31 a.m., futures for the large-cap
were up 23 to 2305.50, putting them 46.29 points above
fair value, as calculated by
S&P 500 futures were up 3.6 to 1291.60, putting them about 2 points above fair value, as calculated by
. Fair value helps gauge how stocks will trade in early action.
Asian markets squeaked higher. In Hong Kong, the
was up 0.5%, while the
gained just 0.03%. European markets, which are still trading, are mixed. The
in Paris is down 0.19% and the German
is up 0.29%. In London, the
is up 0.29%.
For more information about overseas markets, check out
page of data on
global stock market indices.
For more on after-hours trading, see Thursday's
Night Watch column, a regular feature that tracks the postclose market.