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Tuesday, April 7, 2015

US STOCKS-Futures tick up with eyes on FedEx, (NYSE: UPS)

U.S. stock index futures ticked up on Tuesday, following two sessions of gains on the S&P 500, with FedEx's multibillion dollar transatlantic acquisition expected to lift the transports sector.* A thin economic calendar and no earnings reports from S&P 500 components will leave traders wanting, with the benchmark index less than 2 percent away from its record high set early last month.* FedEx shares rose 4.1 percent in premarket trading as it seeks to purchase Dutch package delivery firm TNT Express for $4.8 billion, a deal in which United Parcel Service failed two years ago when its bid was blocked by competition regulators. Unlike FedEx, UPS already had a strong European network when it bid for TNT.* General Motors shares fell 2.1 percent in early trade after Canada agreed to sell nearly 73.4 million GM shares it owns to Goldman Sachs.

United Parcel Service, Inc. is a package delivery company. Shares of UPS traded higher by 0.38% or $0.37/share to $96.84. In the past year, the shares have traded as low as $94.05 and as high as $114.40. On average, 3496750 shares of UPS exchange hands on a given day and today's volume is recorded at 2513560.