Stock futures drifted early Monday
as investors weighed a new forecast of further weakness in the U.S.
economy along with Microsoft's new approach to Yahoo.
Investors will be watching Microsoft and Yahoo.
On Sunday, Microsoft said it had approached Yahoo about teaming up on a
transaction. Microsoft said it hadn't resurrected full takeover bid for
Yahoo, but left that possibility open.
In other deal news, another troubled takeover effort could be revived. The Wall Street Journal reported that Electronic Arts (ERTS) is likely to again extend the deadline for its hostile tender offer to acquire videogame rival Take-Two Interactive Software (TTWO) after failing to get the support of a majority of the company's shareholders for a deal.
General Motors shares rose in
after-hours trading Friday after a local of the United Auto Workers
union ratified a deal to end a month-long strike at a plant that made
the popular Buick Enclave, Saturn Outlook and GMC Acadia. That Michigan
plant is set to reopen Monday.