Morning Movers: Lorillard Leaps on Reynolds American Merger Speculation; The Gap Falls on Weak Sales

Stocks look set to open higher a day after concerns surrounding a Portuguese bank caused stocks to fall.

AA

S&P 500 futures have risen 0.2%, while Dow Jones Industrial Average futures have gained 0.2%. Nasdaq Composite futures have advanced 0.3%.

Lorillard (LO) has jumped 5.5% to $66.55 after reports that the tobacco company was set to merge–finally–with Reynolds American (RAI). Reynolds American has gained 2.9% to $62.26.

The Gap (GPS) has fallen 1.3% to $40.44 after it said sales at stores open for at least 12 months had dropped 2% in June.

Fastenal (FAST) has fallen 3% to $46.71 after the industrial company reported earnings that met analyst forecasts but light revenue.

Marathon Petroleum (MPC) has risen 1.1% to $78.29 after getting upgraded to Buy from Neutral at Citigroup.