US futures are pointing higher on Thursday as the Fed hiked interest rates, as expected, yesterday.
It raised rates by 25 percentage points but failed, said commentators, to give a fresh insight into its views on inflation.
To company matters, and in focus in pre-market trade on Thursday is a much talked about media deal, now finally struck.
Walt Disney Co (NYSE:DIS) shares dropped 1.5% to US$106 after hours as it emerged it was buying a huge chunk of 21st Century Fox (NASDAQ:FOX) in a mega deal, which promised to reshape the landscape and help it fend off digital rivals such as Netflix.
The US$52.4bn all-stock deal will combine two of the biggest players in Hollywood. Shares prices will likely be in focus today. Twenty First Century shares fell 3.21% to US$31.70 after hours.
????It’s official????
The X-Men are coming home!
“Walt Disney on Thursday announced it acquired many parts of 21st Century Fox in a deal worth more than $52 billion in stock.” - CNBC https://t.co/NxXy1mWw1m pic.twitter.com/bwXeZE537V
— Marvelous Realm (@MarvelousRealm) 14 December 2017
Also in play in pre-market is Scholastic Corp (NASDAQ:SCHL), which added 0.07% after hours. It is expected to report quarterly earnings of US$1.75 per share on revenues of US$601.40mln before the opening bell.
After the markets closed, Costco Wholesale Corporation (NASDAQ:COST) shares nudged 0.02% lower at US$188.25. It is projected to post quarterly earnings of US$1.34 per share on revenues of US$31.38bn.
Tintri Inc (NASDAQ:TNTR) shares shed almost 18% to US$4.50 as it reported in-line earnings for the third quarter, while sales fell short of estimates.
The company also issued issued weak fourth quarter sales guidance.