May 28 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Wednesday, May 28:
1. -- U.S. stock futures were rising Wednesday and global stocks gained on strong economic data from the U.S.
European stocks were flat to higher. Asian shares ended the session with gains. Japan's Nikkei 225 rose 0.2%.
2. -- The economic calendar in the U.S. on Wednesday is quiet.
3. -- U.S. stocks on Tuesday rose with the S&P 500 hitting a record closing high amid a raft of positive economic data, including rising consumer confidence and service sector expansion.
The Dow Jones Industrial Average rose 0.42% to close at 16,675.50, while the S&P 500 closed up 0.6% to 1,911.91. The Nasdaq jumped 1.22% to 4,237.07.
4. -- Google's
The two-seater won't be sold publicly, but Google said Tuesday it hopes by this time next year, 100 prototypes will be on public roads. The top speed for the cars would be 25 mph.
Sergey Brin, Google's co-founder, discussed the effort at a tech conference on Tuesday in California.
"It reminded me of catching a chairlift by yourself, a bit of solitude I found really enjoyable," Brin said of his first ride, The Associated Press reported.
Google shares rose 0.2% in premarket trading to $567.32.
5. -- Facebook's
The social-network company has approached the European Commission, the EU's central antitrust authority, to ask it to review the blockbuster deal, people familiar with the matter told the Journal. The commission has informed national competition authorities of the request, one of the people said.
The potential inquiry comes amid a rising wave of pressure on big U.S. tech companies in Europe, on fronts ranging from antitrust to privacy and taxes, the Journal noted.
Facebook shares fell 0.3% to $63.30 in premarket trading.
6. -- Luxury homebuilder Toll Brothers
Revenue rose to $860.4 million from $516 million a year earlier.
Homebuilding deliveries rose 67% in dollars and 36% in units during the second quarter. Toll said its average selling price in the second quarter rose about 22% to $706,000.
Toll shares rose 3.3% to $36.82 in premarket trading.
7. -- Valeant Pharmaceuticals
The stock portion of the offer remains the same at 0.83 of a Valeant share for each Allergan share held.
Separately, Valeant said it reached a deal to sell all rights to aesthetic dermatology products Restylane, Perlane, Emervel, Sculptra, and Dysport to Nestle for $1.4 billion in cash.