Stocks set to open slightly lower
U.S. stock futures were trading slightly lower early Tuesday, implying that the major indexes may pause after hitting record highs in the previous session as the market remained optimistic for a large stimulus package.
Today, traders are awaiting of a slew of quarterly reports, including Twitter (NYSE: TWTR), Cisco (NASDAQ: CSCO), Centene (NYSE: CNC), and Fox (NASDAQ: FOX).
By 5:40 a.m. ET, futures tied to the blue-chip Dow were down 39 points, or 0.12% to 31,229. The tech-heavy Nasdaq 100 futures dropped 15.5 points, or 0.11% to 13,667 while the S&P 500 futures were little changed.
Tesla helps Bitcoin surge to fresh record highs
Meanwhile, the price of Bitcoin has soared to new record highs on the news that Tesla (NASDAQ: TSLA) invested $1.5 billion in the popular cryptocurrency.
The cryptocurrency briefly topped $47,000 for the first time early Tuesday before giving away some of the gains. As of this writing, Bitcoin was trading at $46,301.
Paperwork filed with the U.S. Securities and Exchange Commission (SEC) revealed that the electric vehicle maker bought $1.5 billion worth of the cryptocurrency.
According to the paperwork, the Elon Musk-led company also said it plans to accept Bitcoin as payment.
Glu Mobile rises after agreeing to be acquired by Electronic Arts for $2.1 billion
Shares of Glu Mobile (NASDAQ: GLUU) are surging after the mobile games maker agreed to be acquired by Electronic Arts (NASDAQ: EA) for $2.1 billion in enterprise value.
Under the terms of the deal, Glu shareholders will receive $12.50 in cash for each share of Glu stock. That represents a 36% premium to the closing share price of Glu on Feb. 5.
“Mobile continues to grow as the biggest gaming platform in the world, and with the addition of Glu’s games and talent, we’re doubling the size of our mobile business,” Electronic Arts CEO Andrew Wilson said in a press release.
Glu Mobile shares were trading up 33.65% to $12.59 in the pre-market trading session Tuesday. Electronic Arts stock jumped 1.13% to $144.07 per share.
