Stock futures edged lower Tuesday but remained close to all-time highs.
S&P 500 futures slipped 0.17%, Dow Jones Industrial Average futures fell 0.14%, and Nasdaq futures slid 0.21%.
Markets surged more than 1% on Monday after Shire's (SHPG) deal to buy Dyax (DYAX) triggered a rally in the health care sector. Health care stocks, particularly biotech, have seen volatile trading since mid-September when Democratic presidential candidate Hillary Clinton vowed to address "price gouging."
Benchmark indexes remained close to all-time intraday highs after October's rally helped to overturn a pullback in August and September. The S&P 500 is down just more than 1% from its intraday record, while the Dow hovers around 500 points below its own.
King Digital (KING) spiked more than 14% after Activision Blizzard (ATVI) agreed to buy the video game maker in a deal worth a total $5.9 billion. The offer of $18 a share is a 20% premium to King Digital's closing price on Monday. The acquisition brings together Activision, the maker of popular role-playing game Call of Duty, with the creator of mobile app game Candy Crush.
Sprint (S) said its second-quarter loss widened from a year earlier to 15 cents a share from a penny a share a year earlier. Analysts had expected a net loss of 7 cents. The telecom generated revenue of $7.98 billion, below estimates of $8.12 billion. However, wireless net additions rose significantly as promotional efforts paid off. Additions jumped 1.06 million, up from 675,000 a year earlier.
Office Depot (ODP) shares were on watch after reporting an in-line third quarter. The office supplies chain earned adjusted profit of 16 cents a share, while revenue of $3.69 billion fell just shy of $3.72 billion. The company also increased its expected store closures to 180 locations by the end of this year, up from 175.