Stock futures retreated again on Friday, looking to close out the week on a bum note following Wall Street's best record-breaking run in a quarter century. 

S&P 500 futures were down 0.29%, Dow Jones Industrial Average futures fell 0.34%, and Nasdaq futures slid 0.14%. 

The promise of tax reform from Donald Trump was largely the driver behind recent all-time records for benchmark indexes achieved earlier in the week. The rally lost its luster on Thursday during an unfocused and lengthy press conference in which Trump said a tax reform plan would come after a health care proposal in March. Trump has made vague references to a forthcoming tax reform plan, though no details of the president's self-described "massive" tax reform have been divulged.

The Dow, S&P 500 and Nasdaq ended Wednesday with their fifth record close in a row, the longest record-making streak since a six-session stretch from late 1991 to early 1992. That record stretch was snapped on Thursday after the S&P 500 and Nasdaq fell and the Dow closed at a new record by just a few points. 

Kraft Heinz (KHC) , the maker of Kraft mac and cheese and Heinz ketchup, on Friday said it approached consumer products giant Unilever  (UL)  about a merger but that Unilever rejected the approach. Unilever said the $143 billion approach has "no merit" and "fundamentally undervalues" the consumer staples company. The Kraft offer represented an 18% premium to Unilever's close on Thursday. 

Kraft Heinz shares rose 4.8% in premarket trading while Unilever shares traded in the U.S. jumped 11%.

Jim Cramer and the AAP team hold a position in Kraft Heinz for the Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells KHC? Learn more now.

WebMD (WBMD) increased 3% after indicating it was open to selling itself. On Thursday, the online medical encyclopedia said it was looking into "strategic alternatives," which could include selling all or part of the company.  

AstraZeneca ( AZN)  rose 1% on Friday after its Lynparza drug fared well in clinical trials of its effectiveness as a breast cancer treatment. The drug showed statistically meaningful improvement in the survival of patients with germline BRCA mutated breast cancer. 

Deere & Co. (DE) rose 2% after exceeding first-quarter estimates and offering positive guidance. The agricultural equipment company reported earnings of 61 cents a share, down from 80 cents in the year-ago quarter but higher than consensus of 56 cents. Sales of $4.7 billion beat expectations of $4.62 billion. Deere anticipates full-year sales growth of 4%, higher than consensus of a flat reading. 

J.M. Smucker (SJM) issued a weaker-than-expected forecast for its fiscal 2017 after reporting a decline in both earnings and sales over its third quarter. Adjusted earnings guidance was trimmed to $7.60 to $7.70 a share, shaving a nickel off its previous high-end of guidance. Comparable net sales are expected to drop 3%, a worse decline than a previous range of flat to a 1% drop. 

Campbell Soup (CPB) was under pressure after a mixed quarter. The canned goods company earned an adjusted 91 cents a share, 3 cents higher than consensus. Revenue slipped to $2.17 billion from $2.2 billion a year earlier and fell short of estimates of $2.22 billion. 

It's a quiet day for economic data with only a weekly reading on active oil rigs in the U.S. from Baker Hughes out this afternoon. Markets will be closed on Monday in honor of Washington's Birthday.

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