July 28 Premarket Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, July 28:
1. -- U.S. stock futures were soft on Monday at the beginning of another big week for earnings reports.
European stocks were mixed, tugged up by news of a spinoff from Reckitt Benckiser, a pharmaceutical and health company, and raised guidance from Ryanair Holdings, but also pushed lower by news of a lower revenue forecast from German cash-machine maker Wincor-Nixdorf and the cancellation of a merger deal between babywear chain Mothercare and U.S. rival Destination Maternity
2. -- The economic calendar in the U.S. on Monday includes earnings reports from 140 companies. The pending home sales report, a forward indicator on the housing market, will arrive at 10 a.m. The Fed Funds Rate will be announced at 2:45 p.m.
3. -- U.S. stocks on Friday slipped, after some of the biggest names -- Amazon
The Dow Jones Industrial Average
4. -- An arbitration court in the Hague ruled that Russia must compensate Yukos shareholders to the tune of $50 billion. Russia's takeover of the giant oil company was illegal, the court said, and Russia must pay for it. A parallel case will be decided Thursday at the European Court of Human Rights in France.
Russia likely won't recognize the legitimacy of the international tribunal ruling, but the decision is nonetheless a blow to Vladimir Putin and to Russia.
5. -- Dollar Tree
In premarket trading, Family Dollar shares were up 22% to $74. Dollar Tree shares were up 6.8% in premarket trading to $57.89.
6. -- McDonald's
McDonald's has stuck with the offending supplier, Shanghai Husi Food, and its owner, U.S.-based OSI, out of necessity. However, Shanghai Husi said it is recalling all food processed at its Shanghai facility.
7. -- In deal news, French yogurt-maker Danone
Danone may use the funds to attempt to buy Mead Johnson