Filed Under:Life Insurance, Life Planning Strategies

U.S. stock futures rise amid deals activity, Citigroup earnings

Citigroup climbed 3.8 percent after also agreeing to pay $7 billion to settle a mortgage-bond probe.
Citigroup climbed 3.8 percent after also agreeing to pay $7 billion to settle a mortgage-bond probe.

(Bloomberg) -- U.S. stock futures advanced, after the Standard & Poor’s 500 Index posted its biggest weekly loss in three months, on an increase in takeover activity and better- than-forecast earnings from Citigroup Inc.

Citigroup climbed 3.8 percent after also agreeing to pay $7 billion to settle a mortgage-bond probe. Apple Inc. rose after Barclays Plc. advised investors to buy shares in the world’s biggest company by market value. URS Corp. jumped 7.7 percent after Aecom Technology Corp. agreed to acquire the construction-management company for about $4 billion. AbbVie Inc. fell 2.1 percent after Shire Plc said it’s willing to recommend the U.S. company’s latest bid to its shareholders.

The bank said second-quarter profit tumbled 96 percent on $3.7 billion in costs tied to the settlement. Excluding items, profit was $1.24 a share. The average estimate of 25 analysts surveyed by Bloomberg was $1.05.

Investors this week will also be watching statements from central banks and economic reports for clues to the strength of the global economy.

Mylan, Abbott

Mylan Inc. rallied 4.1 percent to $52.25. The company is buying Abbott Laboratories’ generic-drug business and forming a new company that will be incorporated in the Netherlands, allowing for a lower-cost tax base.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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