Fed chair Powell to deliver a speech in Jackson Hole, WY
U.S. stock index futures were higher on Friday as investors awaited a key speech by Federal Reserve chairman Jerome Powell at the Jackson Hole symposium later in the day.
Investors will be looking for clues on whether the central banker is willing to continue to trim interest rates, or stick to his “mid-cycle adjustment” message.
At 5:18 a.m. ET, the Dow futures contract rose 93 points, or 0.35% to 26,318, the tech-heavy Nasdaq 100 Futures contract climbed 42.75 points, or 0.55% to 7,754.0, while the S&P 500 futures contract was up 11.87 points or 0.41% to 2,934.12.
Hasbro acquires Entertainment One for $1 billion
Toy giant Hasbro (NASDAQ: HAS) announced on Thursday it is acquiring studio Entertainment One in an all-cash deal valued at $4 billion. The transaction hands Hasbro eOne’s PJ Masks and Peppa Pig kids series and other popular cartoons such as Nickelodeon’s Ricky Zoom.
Shares of Hasbro declined 3% in premarket trade, while those of Entertainment One rocketed 35% in London trade.
VMware acquires Pivotal Software and Carbon Black
VMware (NYSE: VMW) said late Thursday that it has acquired Pivotal Software (NYSE: PVTL) for $2.7 billion. The enterprise software firm is also acquiring Carbon Black (NASDAQ: CBLK) in a cash deal valued at $2.1 billion.
Carbon Black shareholders will receive $26 per share for each share held, representing a premium of 6% over the stock’s closing price on Thursday.
Shares of Pivotal Software surged 8% in premarket trade Friday, while those of Carbon Black were up 6%. Meanwhile, VMware shares dropped 5.5% to change hands at $140 apiece.