U.S. futures were holding relatively flat on Friday as the rally by European stocks was halted following the terror attack in Nice, France, in which at least 84 people were killed during Bastille Day celebrations. The attack led President François Hollande to extend France's state of emergency for another three months. Meanwhile, the Asian markets all closed with gains, led by Japan's Nikkei.
The next round of Wall Street banks reported before the bell. The next round of Wall Street banks reported before the bell. Citigroup (C) reported second-quarter earnings of $1.24 per diluted share on revenues of $17.5 billion. Earnings beat forecasts of $1.10 per share and revenue topped analysts' expectations of $17.47 billion. The firm's shares jumped more than 2% on the report.
Another bank that reported before the market open but saw its shares slipping was Action Alerts PLUS holding Wells Fargo (WFC) . Earnings of $1.01 per share were on par with the Street's forecasts. Revenue of $22.2 billion was up 4% from the prior year, and also topped forecasts of $22.17 billion.
Shares of Herbalife (HLF) climbed as much as 13% in premarket trading on news that the Federal Trade Commission has determined, after a longstanding investigation, that the food-products distributor does not equate to a so-called pyramid scheme -- a claim that billionaire activist Bill Ackman has long publicized.
Meanwhile, Xerox (XRX) shares were up slightly on news that it has rejected the proposed merger deal R.R. Donnelley (RRD) , according to a report by the Wall Street Journal. The proposal called for a deal that would have been structured as a so-called Morris Trust, a setup in which Xerox would get a slight premium, a personal familiar with the matter told the Journal. The R.R. Donnelley proposal called for its executives to take control and for several hundred million dollars in new cost cuts, the Journal reported.
Shares of LendingClub (LC) stumbled more than 2% after reports that Jefferies is considering selling bonds backed by the lending company's consumer loans. According to Bloomberg, Jefferies is having preliminary conversations with investors to gauge interest in the bonds. This comes after disclosure issues, namely the discovery that LendingClub changed documents associated with some of the consumer debt, stymied an effort earlier this year. The firm has not fixed a deal, Bloomberg reported, but the original offering was expected to be around $150 million. Jefferies may also decide not to go ahead with the sale, people with knowledge of the matter told Bloomberg.
Rite Aid (RAD) shares climbed more than 3% before the opening bell, following a report by The New York Post that its $17 billion takeover by Walgreens Boots Alliance (WBA) is closing in on obtaining Federal Trade Commission approval. (Walgreens is a stock held in Jim Cramer's Action Alerts PLUS portfolio.) In order to appease the federal regulators over antitrust concerns, Rite Aid is also beginning to shutter some of its outlets in areas where both companies operate.
-- James Passeri contributed to this story.