Stock futures are bid higher after the extended weekend as S&P futures trade higher by 5.8 points at 1,134.90. NASDAQ futures are trading up 15 points at 1,570 and Dow futures are higher by 51 points at 9,827.
Fair value for the S&P 500 today is $0.98. HL Camp & Company has their computers set for program buying at $2.20 and set for selling at $-0.25. Fair value for the NASDAQ-100 today is $4.85
Kmart files for bankruptcy
Beleaguered retailer Kmart (NYSE:KM) said it would file for Chapter 11 bankruptcy. Kmart says stores will remain open and it will continue to operate after just recently completing a $2 billion DIP financing package.
Amazon.com bid higher
Shares of Amazon.com (NASDAQ:AMZN) are trading up $2.84 (+27.9%) from Friday's close of $10.16, after the online retailer posted earnings of $5 million, or a penny a share.
Tyco to split company into units
Shares of Tyco International (NYSE:TYC) are trading up $5.06 at $51.51 on Redibook ECD after announcing it would separate into four independent, publicly traded companies, in an effort to unlock what the company feels is "tens of billions of dollars" of shareholder value.