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FBN’s Diane Macedo with a morning futures update, plus news that Spain is back in a recession after its GDP fell in the first quarter.
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This is -- Imus in the morning.
-- -- -- Good morning everyone let's start things -- with the live look at the markets here in the US we're seeing future's in the red across the board Dow futures are down by 22 the S and -- down.
By almost four the nasdaq's down by ten.
Over in Europe Spain is -- recession after GDP their contracted in the first quarter.
Also S&P is taking negative ratings actions on sixteen Spanish banks.
Stocks in Europe have now are now read across the board the Dax is reversed direction it wasn't -- earlier now we're seeing it down by twenty -- Frankfurt.
Allows Paris that is and London are both down by little more than thirty meanwhile shares of Barnes & Noble are surging in the premarket on news it's teaming up to form a new subsidiary.
For the book -- digital and college businesses with Microsoft.
The new unit will also include -- -- application for windows eight.
The companies say they're also looking at separating the digital and college business is entirely which could mean a stock offering is in the works.
Microsoft will make it 300 million dollar investment in a subsidiary for nearly 18% stake.
The companies say the subsidiary will help speed the transition to.
Energy Transfer Partners is acquiring sonoco for fifty dollars thirteen cents a share.
Or five point three billion dollars in stock and cash the pipeline company says the deal is part of its plan to boost its presence in the transportation of crude oil.
Natural gas liquids and refined products at fifty dollar share price is a 22% premium.
Over sonoco is closing price on Friday shares are higher in the premarket.
And -- closer look at what's moving the European markets but Dow Jones.
