* Yahoo's board approves $1.1 bln Tumblr acquisition -WSJ
* Actavis to acquire Warner Chilcott in stock-for-stock deal
* Futures off: Dow 5 pts, S&P 0.9 pts, Nasdaq 2.25 pts
NEW YORK, May 20 U.S. stock index futures were
little changed in light volume on Monday as investors search for
catalysts after major U.S. equity indexes closed Friday for a
fourth consecutive week of gains.
* Acquisitions including Yahoo's $1.1 billion bid for Tumblr
indicate that companies continue to search for growth through
acquisitions despite record highs, a bullish sign for the
* The S&P 500 and Dow industrials finished Friday at fresh
record highs and the Nasdaq Composite is at its highest since
* A light economic and earnings calendar could leave the
market vulnerable for a pullback, but those have been shallow
and short-lived as investors take any weakness as a new chance
to increase long positions.
* S&P 500 futures dipped less than a point 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 fell 5
points, and Nasdaq 100 futures shed 2.25 points.
* Yahoo shares rose 2.8 percent in premarket
trading after a report its board has approved a deal to buy
blogging and social networking site Tumblr for $1.1 billion in
cash. The Wall Street Journal report on Sunday cited people
familiar with the matter.
* Actavis confirmed it will acquire Warner Chilcott
Plc in a stock-for-stock transaction valued at
approximately $8.5 billion. Actavis shares rose 3.8 pct in
* Solar products maker JA Solar Holdings reported
another quarterly loss on lower prices for panels that convert
sunlight into electricity, but its operating loss nearly halved
from the first quarter of 2012.
* China's housing inflation accelerated to its fastest pace
in two years in April, a hurdle for policymakers trying to cool
the property sector while supporting economic expansion.
* The Japanese government upgraded its assessment of the
economy on Monday, as emerging signs of an upturn in exports and
factory output added to growing evidence that Prime Minister
Shinzo Abe's aggressive polices are beginning to reignite