May 13 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Tuesday, May 13:
1. -- U.S. stock futures were pointing to a flat to higher open and European shares were rising after Wall Street hit record highs.
Japan's Nikkei 225 rose 2% as the yen weakened. China's Shanghai Composite index fell 0.1% after data suggested that growth decelerated in April, though at levels still considered robust.
2. -- The economic calendar in the U.S. on Tuesday includes retail sales for April at 8:30 a.m. EDT, and export and import prices for April at 8:30 a.m. Business inventories for March will be released at 10 a.m.
3. -- U.S. stocks on Monday rose, with the S&P 500 and Dow Jones Industrial Average closing at all-time highs as technology shares rebounded.
The Dow added 0.68% to close at 16,695.47, while the S&P 500 jumped 0.97% to 1,896.65. The Nasdaq surged 1.77% to 4,143.86. Small caps as measured by the Russell 2000 were up more than 2% for their biggest one-day gain in more than a month.
4. -- Pfizer
"Pfizer wishes to enter into discussions with AstraZeneca regarding a potential combination of the two companies and remains disappointed at the lack of engagement by the AstraZeneca Board," a statement from Pfizer said.
Pfizer did say, however, that it would remain "disciplined on price."
Pfizer has offered to buy AstraZeneca for $106 billion in cash and stock but London-based AstraZeneca has rebuffed three approaches since January.
5. -- AT&T
The two sides are discussing a deal that would involve a mix of cash and AT&T stock, the people said. AT&T would likely pay a premium to DirecTV's share price Monday, one of the people said. An agreement could be reached in two weeks if not sooner, according to the people, the Journal reported.
DirecTV shares fell 1% to $87.16 on Monday. The two companies are discussing a price in the low to mid-nineties per share, one of the people told the newspaper.
6. -- A European court ruled Tuesday that Google
In an advisory judgment stemming from a Spanish case, the Court of Justice of the European Union said Google and other search engines do have control of individuals' private information, given that they sometimes compile and present links to it in a systematic way.