Russell 2000 futures inch up

The Russell 2000 (NYSE: IWM) futures are slightly above their close level on Friday on news of corporate deal-making.

Search engine Yahoo! Inc. (Nasdaq: YHOO) will reject a $45 billion bid from Microsoft Corp. (MSFT), according to news reports over the weekend. The Redmond, Wash.-based software giant will in turn take its offer directly to shareholders.

More mergers and acquisitions news is coming from networking solutions provider Nortel Networks Corp. and telecommunications heavyweight Motorola Inc. (NYSE: MOT), which are in talks to merge their wireless infrastructure divisions, according to The Wall Street Journal.

There are no economic report releases to navigate on Monday, and outside volatility looks calm until we get to Wednesday morning’s Retail Sales report. Look for support Monday at 688 and 680, while resistance is at 712 and 721.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Possis Medical, Inc. (POSS), up 34% on news it has received a $361 million offer from Bayer AG (NYSE:BAY).
• Central Garden & Pet Co. (CENT), up 9%.
• Orasure Technologies, Inc. (OSUR), up 7% on news that it will collaborate with Schering- Plough Corp. (SGP).

Biggest percentage losers:

• NeuroMetrix, Inc. (NURO), down 20%.
• SeaChange International, Inc. (SEAC), down 7%.
• LCA-Vision Inc. (LCAV), down 2% despite news that fourth-quarter profit beat analysts’ projections.

Kevin Pendley contributed to this report.

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