* 'Quadruple witching' may boost volume, volatility
* Oracle slumps in premarket after results
* Carmax surges in premarket after earnings
* Futures up: Dow 25 pts, S&P 3.75 pts, Nasdaq 4.75 pts
By Chuck Mikolajczak
NEW YORK, June 20 U.S. stock index futures
pointed to a modestly higher open on Friday, putting the S&P on
track to extend its record high with a sixth straight day of
gains, and a fourth weekly gain over the past five.
* Investors may see a spike of volume and volatility at the
open and towards the closing bell as Friday marks a "quadruple
witching" day - the expiration of stock options, index options,
index futures and single-stock futures - as traders close
hedging positions or roll them over at the last minute.
* Oracle Corp shares were down 6.3 percent to
$39.82 before the opening bell after it posted fourth-quarter
results that disappointed investors looking for more progress
against rivals selling web-based services.
* Five days of gains in the benchmark S&P index marked its
longest winning streak since mid-April. For the week, the index
is up 1.2 percent, while the Dow is up 0.9 percent and
the Nasdaq has gained 1.1 percent.
* S&P 500 e-mini futures were up 3.75 points and fair
value - a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the contract
- indicated a modestly higher open. Dow Jones industrial average
e-mini futures rose 25 points and Nasdaq 100 e-mini
futures added 4.75 points.
* Darden Restaurants lost 4.1 percent to $48.51 in
premarket trade after the chain restaurant operator reported a
much-lower-than-expected quarterly profit as costs soared and
sales at its flagship Olive Garden restaurant chain fell.
* Owens Corning slumped 6.8 percent to $38.50 in
premarket after the company lowered its 2014 earnings forecast,
citing weakness in its roofing business.
* Carmax surged 16.2 percent to $52.60 after the
used-vehicle retailer reported first-quarter earnings that
topped analysts' expectations.
* Midstream energy company Targa Resources Corp
fell 9.8 percent to $135.89 before the opening bell after it
said it was no longer in discussions with Energy Transfer Equity
LP, the pipeline company controlled by billionaire Kelcy
Warren, regarding a deal. Targa's energy logistics operating
unit Targa Resource Partners lost 10.5 percent to
* U.S.-listed shares of Shire jumped 16.5 percent to
$223.31 in premarket trading after it rejected a 27
billion-pound ($46 billion) takeover offer from U.S. rival
AbbVie, the latest attempt by a U.S. healthcare firm to
tap into the London-listed group's low tax rate.
(Editing by Bernadette Baum)