Stock futures were slightly lower following earnings quarterly results from Bank of America, GE and Citigroup and a larger-than-expected drop in June CPI of 0.1%.
Here are some of the early market movers for Friday.
LSB Corp. (LSBX)
The bank holding company announced it would be acquired by People's United Financial Inc. in a cash and stock deal valued at $96 sending shares surging 45.1% in pre-market trading.
AVI BioPharma Inc. (AVII)
Shares jumped 22.7% in pre-market trading Friday after the company announced late Thursday it had been awarded a government contract valued at up to $291 million for development of Ebola and Marburg virus treatments.
Arena Pharmaceuticals Inc. (ARNA)
Shares were up 18.8% in pre-market trading Friday after the FDA rejected rival company Vivus Inc.’s Qnexa weight-loss treatment.
Goldman Sachs Group (GS)
The investment bank announced a settlement with the SEC Thursday agreeing to pay $550 million and reform its business practices to settle the suit. Shares gained 4.6% in pre-market trading Friday.
Vivus Inc. (VVUS)
Shares sank 54.8% in pre-market trading following the FDA’s rejection of the company’s Qnexa weight-loss treatment.
Polycom Inc. (PLCM)
The communications technology company posted second-quarter results after the close Thursday, reporting non-GAAP earnings of 34 cents per share on revenue of $295 million. Analysts had estimated earnings of 32 cents per share and revenue of $287.54 million. Despite the beat, shares were down 9% in pre-market trading Friday on revenue concerns from its network systems business which declined again this quarter.