Aug. 6 Premarket Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Aug. 6:
1. -- U.S. stock futures were lower on Wednesday following a global selloff on worries that Russian troops were amassing near the Ukraine border.
Both European and Asian stocks declined. An unexpected fall in German factory orders also dented sentiment.
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2. -- The economic calendar in the U.S. on Wednesday includes the trade balance for June at 8:30 a.m. EDT.
3. -- U.S. stocks on Tuesday finished at session lows after being pressured lower by a ramp-up of tensions in Ukraine. Better-than-expected economic data failed to help the S&P 500 sustain a recovery from last week's worse slump in two years.
The Dow Jones Industrial Average fell 0.84% to 16,429.47. The S&P 500 declined 0.97% to 1,920.21. The Nasdaq fell 0.71% to 4,352.83.
4. -- 21st Century Fox
In a statement, Chairman Rupert Murdoch said Fox viewed a merger with its long-time rival as a "unique opportunity to bring together two great companies, each with celebrated content and brands." But the proposed combination, firmly rejected by Time Warner's board and its CEO Jeff Bewkes, was not to be.
"Time Warner management and its board refused to engage with us to explore an offer which was highly compelling," Murdoch added in the statement.
Murdoch coveted Time Warner both for its extensive sports contracts, a lineup of profitable cable-TV channels and the very successful HBO, a property that Fox envisioned as a platform to challenge Netflix's
5. -- Sprint
The decisions were made at a Sprint board meeting Tuesday, the Journal said, and they put an end to a deal that would have valued T-Mobile at $32 billion and created a more muscular rival to market leaders such as Verizon
Sprint is the third-largest wireless carrier in the U.S. It has lost money every year back to 2007, according to the Journal.
6. -- Walgreen
Walgreen, based in Deerfield, Ill., said it wasn't in the best long-term interest of its shareholders to re-domicile outside the United States.
Walgreen said it would buy the 55% of Alliance Boots it doesn't already own for 3.13 billion pounds ($5.27 billion) in cash and 144.3 million Walgreen shares.
Walgreen acquired a 45% stake in Alliance Boots in 2012.