Equity markets were rattled back-and-forth as Euro zone debt drama swept over Wall Street for another week. Volatility levels climbed higher across asset classes as profit taking pressures and bargain buying created a trading frenzy, although major stock indexes did end the week lower in red territory. Investors got no relief on the home front as the latest Fed minutes revealed that the domestic recovery is still sluggish at best [see also 3 Trading Tips You Are Missing]. 

Actionable ETF Trade Ideas

Last Week’s Actionable ETF Ideas
Ticker
Position
Performance
MDY

Long

-1.6%
FXC

Long

-0.7%
KXI

Long

Down Arrow
-0.8%

Our picks from Monday’s Insider posted a frustrating performance during a volatile week for equity markets around the globe. Below, we highlight how our trade ideas fared during the week [sign up for a free trial of ETFdb Pro to get actionable ETF ideas every Monday, as well as access to more than 40 all-ETF model portfolios].

Trade #1 Long MDY: Down 1.6%

This ETF got off to a weak start as shares drifted sideways in the first two days of the week, only to inch even lower on Wednesday. The rampant sell-off on Thursday dragged down this ETF alongside virtually every other corner of the equity market. We stuck to our rules and cut our losses at $171 a share, which actually ended up saving us from incurring a much larger loss seeing as how MDY traded as low as $164.59 a share on Friday. 

Trade #2 Long FXC: Down 0.7%

This ETF got off to a worrisome start as selling pressures on Tuesday dragged it down near our outlined support level at $98.50 a share. The U.S. dollar rallied on Wednesday as Euro zone debt woes intensified, putting pressure on major currencies, and especially dragging down the Canadian dollar; as such, we stuck to our outlined stop-loss and cut our losses at $98.50 a share, which once again saved us from incurring an even larger loss seeing a how this ETF traded as low as $97.27 a share on Friday. 

Trade #3 Long KXI : Down 0.8% 

This defensive sector ETF did not provide much of a shield from all of the volatility, leading to another recommendation in red territory for the week. KXI drifted sideways in the first half of the week, although selling pressures on Thursday overpowered the bulls and sank this ETF below our outlined stop-loss. Once again, we stuck to our rules and cut our losses at $69 a share; KXI traded as low as $68.09 a share on Friday. 

ETFdb Portfolios

Retirement ETFdb Portfolios

Rampant selling pressures across equity markets dragged our retirement themed portfolio into red territory for the week. Even our bond-heavy Ready To Retire portfolio could’t hold its ground as profit taking pressures intensified throughout the week. Not surprisingly, our worst performer was the equity-heavy Aggressive portfolio [see All Portfolio Returns].

Regional ETFdb Portfolios

Our regional portfolios struggled to hold their ground amidst the flurry of trading activity around the globe. Euro zone debt drama undoubtedly set the tone for profit taking throughout the week. Our Ex-Europe portfolio pulled ahead thanks to its creative strategy, while our LatAm-Centric portfolio was the worst performer for the week. 

Themed ETFdb Portfolios

Our themed portfolio all ended the week on a sour note, except for our Sky Is Falling portfolio, which managed to clinch a minor gain thanks to its unique investment approach. Selling pressures in equity and commodity markets dragged down virtually every asset class, with U.S. Treasuries being the sole victor in an otherwise absolutely dismal week on Wall Street.

Disclosure: No positions at time of writing.

Click here to read the original article on ETFdb.com.

Related Posts:

• ETF Insider: Beware Of Bargain Shopping
• ETF Insider: Caution, Bumpy Trading Ahead
• Friday’s ETF Chart To Watch: CurrencyShares Canadian Dollar Trust (FXC)
• Saving For College, ETF Style: An ETF-Friendly 529 Plan
• Daily ETF Roundup: MDY Thrives On Buying Trend, UNG Turns Sour Late

Article source: http://finance.yahoo.com/news/etf-insider-stocks-free-fall-110038152.html

Stocks Post Loss on Greece, SP at 3-Month Low

CNBC-Stocks faded in the final hour of trading Tuesday to finish lower after a transcript from the Greek meeting showed deposits leaving the nation’s banking system and after the Greece’s leaders failed to agree on a coalition government.

The SP 500 closed at 3-month lows, while the Dow logged its ninth loss in the last 10 sessions. Major averages are on pace for their biggest monthly losses since last September.

According to a transcript, Greek depositors recently withdrew 700 million euros from the nation’s local banks, said President Karolos Papoulias, though the exact timing of the transfer was unclear.

• Slideshow: The World’s Biggest Debtor Nations

“I think people need to prepare for the eventual removal of Greece from the EU and investors are getting ahead of that before they’re forced to,” said Matthew McCormick, vice president and portfolio manager at Bahl Gaynor Investment Counsel on CNBC’s ”

The Dow Jones Industrial Average slipped 63.35 points, or 0.50 percent, to close at 12,632.00, led by Hewlett-Packard [HPQ  22.40    -0.565  (-2.46%)   ]and Home Depot [HD  48.67    -1.21  (-2.43%)   ].

The SP 500 declined 7.69 points, or 0.57 percent, to end at 1,330.66. TheNasdaq erased 8.82 points, or 0.30 percent, to finish at 2,893.76.

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Article source: http://www.thefinancialphysician.com/blog/2012/05/bank-run-hits-greece/

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NEW YORK (CNNMoney) — U.S. investors resumed focus on the global issues plaguing world markets Friday, following a brief euphoric pop from Facebook’s debut.

“People are talking about Facebook, but it’s really a sideshow,” said Win Thin, an emerging market strategist for Brown Brothers Harriman. “If Europe blows up, people will trade on that more than anything else.”

The Dow Jones industrial average (INDU) lost 14 points, or 0.1%, the SP 500 (SPX) slipped 1 point, or 0.1%, and the Nasdaq (COMP) fell 10 points, or 0.4%.

Facebook (FB), which priced its initial public offering at $38 a share after the closing bell Thursday, jumped 11% when it started trading mid-morning Friday. But by the afternoon, it had leveled off at about $41.

The European debt crisis loomed over global markets. Asian stocks sold off sharply, based partly on the slowdown in the Chinese economy. European markets were also under pressure, and borrowing costs for Spanish and Greek debt remain high.

Concerns are mounting about a potential Greek exit from the euro, and the implications that it could have for other fiscally troubled nations such as Spain and Italy. Rating agency Moody’s downgraded 16 Spanish banks Thursday, including giants Banco Santander (STD) and BBVA (BBVA), the latest sign of distress in Europe.

Greece, currently operating with a caretaker government, could leave the eurozone if anti-austerity parties triumph in elections next month.

A growing number of depositors are withdrawing their money from Greek banks amid worries that their savings could be converted to a devalued currency if Greece drops the euro. The rapid withdrawals are putting further strain on the country’s struggling financial sector.

U.S. stocks closed lower Thursday. Investors fled stocks and made a rush toward the safety of U.S. Treasuries, sending the 10-year yield to a record low close.

Bonds: Worries about European sovereign debt continued to weigh on U.S. Treasuries. The yield rose to 1.75% from a record low close of 1.706% late Thursday. The 10-year hit an intraday record low of 1.671% on Sept. 23, 2011.

World markets: European stocks closed down. Britain’s FTSE 100 (UKX) fell 1.3%, the DAX (DAX) in Germany dropped 0.6% and France’s CAC 40 (CAC40) slipped by 0.1%.

Asian markets ended sharply lower on worries about Europe, a major market for Asian exports. The Shanghai Composite (SHCOMP) lost 1.4% on the day, while the Hang Seng (HSI) in Hong Kong tumbled 1.3% and Japan’s Nikkei (N225) plunged nearly 3%.

Companies: Shares of Yahoo (YHOO, Fortune 500) rose early Friday following a report that the Internet portal may have reached a deal with Alibaba that would put an end to a contentious relationship.

Other social media stocks fell, including Groupon (GRPN), LinkedIn (LNKD) and Zynga (ZNGA), which saw its shares plunge more than 10%. Trading on Zynga was halted two separate times.

Apparel retailer Foot Locker (FL, Fortune 500) reported better-than-expected earnings.

Shares of Salesforce.com (CRM) rose sharply after company reported better-than-expected earnings late Thursday.

Shares of Chinese solar energy producers Yingli Green Energy (YGE), Trina Solar (TSL) and Suntech Power (STP) declined early Friday, a day after the U.S. government announced new tariffs on Chinese solar panels. Shares of U.S. panel makers First Solar (FSLR) and SunPower (SPWR) also fell on Friday.

Currencies and commodities: The dollar was lower against the euro, the British pound and the Japanese yen.

Oil for June delivery slipped 46 cents to $92.10 a barrel.

Gold futures for June delivery rose $16.80 to $1,591.70 an ounce.  

Article source: http://rss.cnn.com/~r/rss/money_markets/~3/F9xPNgZO-os/index.htm

NEW YORK (Reuters) – Stock index futures edged up on Friday but major indexes were setting up to close their worst week of the year, while Facebook‘s debut could help lift battered investor sentiment.

The SP has fallen 6.7 percent so far in May, and while volatility is expected to continue, some analysts were forecasting a near-term rebound.

Investors are bracing for Facebook’s Wall Street debut after the world’s No. 1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. Facebook priced its offering at $38 a share on Thursday, and shares are expected to begin trading under the FB symbol on Nasdaq at around 11 a.m. EDT.

The large weekly decline in equities came amid uncertainty over a political crisis in Greece and whether that could trigger a default and possible exit from the euro zone.

Market participants were skittish even as a poll showed Greek voters are returning to the establishment parties that negotiated its bailout, offering some respite to European leaders who say a snap Greek election next month will decide whether it must quit the euro.

“Even good news is not enough to overcome the fear that there is going to be a dramatic slowdown in the world economy because of the European crisis,” said Rick Meckler, president of investment firm LibertyView Capital Management in New York.

“Today, Facebook trading up would be a good start,” he said, adding that a decline below the IPO price “could be a big negative for the market.”

SP 500 futures rose 7.7 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 59 points, and Nasdaq 100 futures added 12 points.

The cost to insure Spanish government debt against default hit record highs Friday, a day after Moody’s cut its rating on Spanish banks en masse, heightening fears of contagion from the Greek political crisis.

Spanish government-run Bankia (MCE:BKIA.MC – News) shares, up more than 20 percent on the day but still down 33 percent this month, led a rebound in Spanish banking stocks as traders closed short positions. U.S.-traded shares of Banco Santander (STD.N) and BBVA (BBVA.N) rose near 5 percent in light premarket trading.

U.S. stocks hit a four-month low on Thursday as another round of weak data undermined hopes for a U.S. economic recovery, and as rising Spanish bond yields increased investor anxiety over the European nation’s banks.

(Reporting by Rodrigo Campos. Editing by Bernadette Baum, Dave Zimmerman)

Article source: http://finance.yahoo.com/news/stock-index-futures-point-modest-085859228.html

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NEW YORK (CNN Money) — U.S. stocks turned mixed Wednesday afternoon, as investors weighed strong U.S. economic data against ongoing uncertainty about Greece’s political situation.

The Dow Jones industrial average (INDU) rose 20 points, or 0.2%, the SP 500 (SPX) added 1 point, or 0.1%, and the Nasdaq (COMP) slipped 2 points, or 0.1%.

Investors were encouraged as U.S. housing starts rebounded from a five-month low and industrial production posted its fastest growth in over a year.

Meanwhile, Greece’s political future remains fragile. After politicians in Greece failed to agree on a coalition government, President Karolos Papoulias called for all parties to set up a caretaker government that will conduct new elections next month.

The instability in Athens raises questions as to whether the country will be forced to leave the eurozone and what such a move would mean for other troubled European economies.

“We’re not at a tipping point yet, but there’s concern that we could get there if the Greek election on June 17 goes the way of the previous one — with an inconclusive result,” said Michael Hewson, analyst at CMC Markets in London.

Despite the uncertainty, comments from European leaders helped stem some pressure. German Chancellor Angela Merkel reiterated that her country wants Greece to remain in the eurozone and will make every effort to help the nation get on solid footing. She said she agreed with France’s newly elected president Francois Hollande to consider measures to spur growth in Greece.

Spanish Prime Minister Mariano Rajoy also said it would be ‘a very big mistake’ if Greece were to exit.

Investors’ worries were also soothed after the European Central Bank said it would continue funding banks following news that Greeks were withdrawing hundreds of millions of euros from the country’s banks.

Borrowing costs initially surged, with Spain’s 10-year yield jumping to 6.5%, before pulling back to 6.3%. Italian bond yields also jumped to 6% before easing to 5.8%.

While Europe’s debt crisis remains a broad concern for U.S. investors, hope are high that U.S. financial institutions have had ample time to protect themselves from the effects of contagion.

“The U.S. banks have been taking many more steps to deal with delinquent loans and against European sovereigns, something that European leaders have been extremely bad at,” said Hewson.

While the 27-nation European Union and the 17-nation eurozone are teetering on the edge of recession, the U.S. economy continues to grow, albeit at a slow pace.

U.S. stocks closed at three-month lows Tuesday as the eurozone debt crisis continued to take a toll on the markets.

World markets: European stocks closed mixed. Britain’s FTSE 100 (UKX) rose 0.1% and France’s CAC 40 (CAC40) added 0.3%, while the DAX (DAX) in Germany slipped 0.3%.

Asian markets ended lower. The Shanghai Composite (SHCOMP) fell 1.2% and Japan’s Nikkei (N225) dropped 1.1%, while the Hang Seng (HSI) in Hong Kong plunged 3.2%.

Economy: Housing starts jumped to an annual rate of 717,000 in April, from the revised level of 699,000 in March. Analysts surveyed by Briefing.com had expected a rate of 680,000.

Meanwhile, building permits fell to an annual rate of 715,000 in April, from the revised figure of 769,000 in March. Analysts expected permits to fall to 730,000.

April’s reading “supports our view that housing is in recovery mode,” said Paul Diggle, property economist at Capital Economics. “We expect housing starts to rise further later this year.”

Diggle also added that he doesn’t expect the latest escalation in Europe to derail the U.S. housing recovery.

“After all, the fallout for the U.S. banking system from a Greek exit will be relatively limited,” he said. “The flow of credit to homebuilders, institutional buyers and households therefore shouldn’t become materially tighter, allowing the volume of housing starts to continue rising.”

The Fed’s reading on the nation’s factory output was also better than expected. Industrial production rose 1.1% in April, rising at the fastest pace since December 2010. Economists were forecasting that industrial production rose 0.5% in April after being unchanged the previous month.

The minutes from the April meeting of the Federal Open Market Committee will be issued at 2 p.m. ET.

Companies: Facebook boosted the size of its IPO by 25%, seeking to raise up to $16 billion, according to an SEC filing.

Shares of retailer JC Penney (JCP, Fortune 500) tumbled after it reported a much bigger than expected loss for the most recent quarter. The company also discontinued its dividend.

Staples (SPLS, Fortune 500) reported earnings in line with expectations, but a surprise 1% drop in sales sent shares of the office supply company lower.

Shares of Deere (DE, Fortune 500) were lower even after the company beat expectations on its quarterly results and raised its forecast.

Target (TGT, Fortune 500) also beat expectations and increased its forecast, pushing shares higher.

According to documents filed with the SEC, Warren Buffett’s Berkshire Hathaway (BRKA, Fortune 500) built new positions in General Motors (GM, Fortune 500) and Viacom (VIA) during the first three months of 2012.

The director of the FBI said Wednesday that the agency has opened an investigation into JPMorgan Chase (JPM, Fortune 500), the nation’s largest bank, a week after the bank disclosed a $2 billion trading loss.

Currencies and commodities: The dollar dipped against the euro, but gained strength against the British pound and Japanese yen.

Oil for June delivery fell 75 cents to $92.23 a barrel.

Gold futures for June delivery lost $13.30 to $1,544.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 1.82% from 1.79% late Tuesday.  

Article source: http://rss.cnn.com/~r/rss/money_markets/~3/6OLBD0YY6mc/index.htm

Global shares and other risk assets fell, with the euro trading at a fresh four-month low. SP 500 futures bounced back from three-month lows hit overnight.

Opinion polls show leftists opposed to the terms of the bailout that is keeping Greece afloat would likely win the new election. Greeks, afraid of the devaluation that would follow an exit from the euro, withdrew at least 700 million euros from their banks on Monday.

Adding to pressure over commodities and mining stocks, BHP Billiton, the world’s biggest miner, said it expects commodity markets to cool further and that investors have lost confidence in the longer-term health of the global economy.

SP 500 futures edged down 0.1 point and were flat in terms of fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dipped 1 point, and Nasdaq 100 futures shed 1.5 points.

Wednesday’s data diary features housing starts for April at 8:30 a.m. (1230 GMT), followed by industrial production figures at 9:15 a.m. (1315 GMT), with both expected to show an improvement from the previous month.

The minutes from the Federal Reserve’s April meeting, due at 2 p.m. (1800 GMT), will be scrutinized for any discussion on the health of the labor market as investors debate the likelihood of more stimulus measures.

Facebook Inc increased the size of its initial public offering by 25 percent and could raise as much as $16 billion as strong investor demand for the No. 1 social network trumps debate about the company’s long-term potential to make money.

U.S. stocks fell for the eighth day in the past 10 on Tuesday. The Dow Jones industrial average (.DJI) dropped 63.35 points, or 0.50 percent, to close at 12,632.00. The SP 500 Index (.SPX) lost 7.69 points, or 0.57 percent, to 1,330.66. The Nasdaq Composite (.IXIC) fell 8.82 points, or 0.30 percent, to close at 2,893.76.

(Reporting by Rodrigo Campos, editing by Dave Zimmerman)

Article source: http://finance.yahoo.com/news/u-stock-index-futures-point-084021377.html

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NEW YORK (CNNMoney) — U.S. stocks lost ground Monday as investors fret over the political and economic stability of the eurozone, and worry about the safety of the U.S. banking sector.

Over the weekend, Greece’s political crisis appeared to worsen as parties fight to form a government. The lack of resolution heightened fears that Greece could be forced to leave the eurozone.

“Everyone is trying to figure out how much of the possibility of Greece leaving the eurozone is being factored into the market,” said Frank Davis, heading of trading at LEK Securities.

The Dow Jones industrial average (INDU) dropped 85 points, or 0.7% in morning trading. The SP 500 (SPX) lost 10 points, or 0.7%. The Nasdaq (COMP) fell 16 points or 0.6%.

Investors will be closely watching a two-day meeting of European finance ministers for any clues about how they plan to handle the turmoil, which could spread to other eurozone countries.

Meanwhile, JPMorgan’s announcement last week of a $2 billion trading loss continues to spur investor fears over what it means for the health of the banking sector and the broader market.

Shares of JPMorgan (JPM, Fortune 500), which were down 9% Friday, lost another 2% Monday after the bank announced the retirement of chief investment officer Ina Drew, who oversaw the unit responsible for the trading blunder. Fitch Ratings downgraded JPMorgan’s debt after Friday’s closing bell, voicing concern over a “lack of liquidity.”

Stocks of rival Wall Street firms Citigroup (C, Fortune 500), Wells Fargo (WFC, Fortune 500) and Goldman Sachs (GS, Fortune 500) all slid roughly 2% Monday, following their 4% losses Friday. Morgan Stanley (MS, Fortune 500) dropped by more than 3%.

“If [JPMorgan CEO Jamie] Dimon is making these mistakes and known as one of the best managers out there, it really makes people wonder again who is controlling the risk situation at the banks,” said Douglas DePietro, head of trading at Evercore.

As Greece’s problems heat up, investors made a dash out of European debt securities Monday, with the yield on 10-year Greek bonds shooting up to 27.3%.

The yield on the Spanish 10-year bond climbed to 6.33%. Any rate above the 6% benchmark heightens bailout risk Italian bond yields also rose, hitting 5.75%.

Meanwhile the German bund slipped to a record low of 1.45%, further raising the spread between Germany and the weaker nations’ yields.

Investors will keep tabs on Germany after German Prime Minister Angela Merkel‘s party lost elections in the nation’s largest state on Sunday. Merkel is due to face national elections next year.

U.S. stocks finished lower Friday and were down for the second straight week.

World markets: Major European stocks closed sharply lower. Britain’s FTSE 100 (UKX) lost 2.%, while the DAX (DAX) in Germany tumbled 1.9%, and France’s CAC 40 (CAC40) plunged 2.3%.

The Shanghai Composite (SHCOMP) lost 0.6% in trading Monday, while Hang Seng (HSI) in Hong Kong ended down 1.2%. But the Nikkei (N225) in Tokyo finished up 0.2% on the day.

The People’s Bank of China took action Saturday to stimulate slowing growth, as it cut the amount of reserves banks are required to hold. The move came a day after economic readings showed inflation, industrial production growth, spending and lending in the world’s second-largest economy all slowing.

Companies: Yahoo (YHOO, Fortune 500) CEO Scott Thompson left the company Sunday, after it was found he padded his resume with an embellished college degree, ending his term there after just four months.

The Web portal company also reached a deal with activist shareholder and Third Point CEO Dan Loeb, who had initially disclosed the problems with Thompson’s resume, by agreeing to nominate three of four directors he had put forth for its board.

Beauty company Avon Products (AVP, Fortune 500) said that it would consider the most recent buyout offer from Coty Inc., which upped its offer last week. At the same time, Warren Buffett’s Berkshire Hathaway (BRKA, Fortune 500) also said it would back the purchase.

Shares of online deal site Groupon (GRPN) surged nearly 11% on Monday, ahead of its earnings report, due after the bell. In recent months, Groupon has seen accounting problems, shareholder lawsuits and an examination by the Securities and Exchange Commission. Analysts surveyed by Thomson Reuters expect the company will report earnings of 1 cent per share on revenue of $531 million.

Shares of Chesapeake Energy (CHK, Fortune 500) rebounded Monday from their Friday sell-off that was sparked by news that Chesapeake might have to delay some asset sales, which are necessary to pay down its debt.

After Friday’s close, the company announced it had arranged for a $3 billion unsecured loan from Goldman Sachs (GS, Fortune 500) and affiliates of Jefferies Group (JEF). On Monday, the Wall Street Journal reported that activist investor Carl Icahn is expected to reveal he has increased his stake in the company to more than 5%.

Currencies and commodities: The dollar was stronger against the euro, but fell versus the Japanese yen and the British pound.

Oil prices for June delivery slid to a five-month low, losing $1.42 to $94.68 a barrel.

Gold futures for June delivery lost another $19.70 to $1,564.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was little changed, leaving the yield hovering at 1.84%. 

Article source: http://rss.cnn.com/~r/rss/money_markets/~3/TIc65quTyOQ/index.htm

NEW YORK (Reuters) – U.S. stock index futures fell sharply on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about the Europe‘s debt crisis as the region struggles to avoid a deepening recession.

Greece’s political landscape has been in disarray for a week since an inconclusive election left parliament divided between supporters and opponents of the 130 billion euro ($168.3 billion) EU/IMF bailout, with neither side able to form a government.

The general move out of risky assets, such as equities and commodities, was likely to see the SP 500 retest an important support level at 1,340 which, if broken, could result in a steeper pullback for the index.

“The world markets are all sharply lower on mounting fears over euro land, Europe‘s potentially steepening recession and worries over a global slowdown,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “It’s all about fear and whether or not the market may hold major support.”

There were also growing concerns about a slowdown in China. The world’s second largest economy may need a back-up plan to stop economic growth being cut short by a surprise dip in demand at home and abroad that suggests monetary policy easing steps taken since the final quarter of last year are insufficient to deal with the downturn.

SP 500 futures fell 12.8 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 93 points, and Nasdaq 100 futures lost 24 points.

Three top executives involved with a failed hedging strategy that cost JPMorgan Chase Co (JPM) at least $2 billion and tarnished its reputation are expected to leave the bank this week, sources close to the matter said on Sunday. The shares fell 0.8 percent to $36.66 premarket.

Avon Products Inc (AVP) on Sunday said it told Coty Inc (COTY.UL) that it would consider the smaller company’s $10.7 billion takeover bid and it expected to respond within a week. The shares were trading up 5.5 percent at $21.30 in premarket.

Concho Resources Inc (CXO) said it would buy all of the oil and natural gas assets of Three Rivers Operating Company LLC, a portfolio company of private equity firm Riverstone Holdings LLC, for $1 billion in cash.

Yahoo Inc (YHOO) is replacing its CEO for the third time in as many years, and giving three board seats to a hedge fund led by Daniel Loeb, putting him in a strong position to influence strategy at the struggling Internet company. The stock rose 1.8 percent to $15.47.

AMR Corp (AAMRQ.PK), parent of American Airlines, bowed to pressure on Friday from its unsecured creditors, including its largest labor unions, and said it would explore merger options while it is still in bankruptcy.

(Editing by W Simon)

Article source: http://finance.yahoo.com/news/stock-index-futures-signal-lower-092216114.html