* Forest Labs surges after Actavis confirms acquisition
* Maker of Candy Crush files for U.S. IPO
* Futures up: Dow 21 pts, S&P 2.5 pts, Nasdaq 4 pts
By Angela Moon
NEW YORK, Feb 18 Wall Street was set for a flat
open on Tuesday after Wall Street posted its biggest weekly gain
of the year, as data showed factory activity in New York state
slowed this month.
* A New York Federal Reserve gauge of manufacturing was
weaker than expected in February after hitting a 20-month high
* U.S. stocks closed higher on Friday, with major indexes
notching a second straight week of gains as investors shrugged
off some weak economic data that was attributed to bad weather.
* U.S. markets were closed Monday for Presidents Day.
* Shares of Forest Laboratories Inc rocketed more
than 35 percent in premarket trading after Actavis said it would
acquire the specialty pharmaceuticals company in a massive cash
and stock deal valued at about $25 billion.
* Coca-Cola Co reported an 8.3 percent fall in
quarterly earnings, hurt by the separation of its bottling
operations in Brazil and the Philippines. The stock was down 2.3
percent in premarket trading.
* S&P 500 e-mini futures rose 0.8 point and were in
line with 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 5
points and Nasdaq 100 futures added 3.25 points.
* Soros Fund Management, one of the hedge fund industry's
most closely watched investors, trimmed its stakes in J.C.
Penney and Herbalife late last year, marking a
notable shift in course only months after buying into the
companies. J.C. Penney shares rose 1.1 percent while Herbalife
shares gained 1.5 percent in premarket trade.
* Shares of BlackBerry Ltd rose 4.3 percent
in premarket trading after hedge fund manager Dan Loeb's Third
Point LLC disclosed a 10-million-share stake in the Canadian
telecommunication and wireless equipment company.
* Mobile game maker King Digital Entertainment PLC, best
known for the hit puzzle Candy Crush Saga, said it planned to
raise up to $500 million in an initial public offering.