Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, June 11:
1. -- U.S. stock futures were pointing to a lower open on Wall Street, signaling that the S&P 500 would slip for a second day Tuesday after the Bank of Japan kept its monetary policy unchanged, saying that its outlook on the Japanese economy has improved.
2. -- The economic calendar in the U.S. Tuesday includes wholesale inventories for April at 10 a.m. EDT.
3. -- U.S. stocks on Monday finished mixed following an upward revision to Japan's gross domestic product figure and Standard & Poor's improved credit rating outlook for the U.S.
The S&P 500 slipped 0.03% to 1,642.81 while the Dow Jones Industrial Average gained 0.06% to 15,238.52. The Nasdaq added 0.13% to 3,473.77.
4. -- Japan's Softbank raised its offer for Sprint
Softbank also significantly increased the cash it will pay to Sprint's current investors. SoftBank will now buy Sprint shares for $7.65 a share by upping its stake in the No. 3 telco to 78% and increasing the cash component of the merger by $4.5 billion.
The revised deal now also carries the backing of hedge fund Paulson & Co., Sprint's second largest shareholder.
5. -- Edward Snowden, the 29-year-old American who has identified himself as the source of National Security Agency leaks about top-secret U.S. surveillance programs, dropped out of sight in Hong Kong on Monday, according to reports.
Snowden checked out of his Hong Kong hotel hours after going public in a video released on Sunday by the U.K.'s Guardian newspaper, Reuters reported.
In the video, Snowden said he feared he could be captured by the CIA, another foreign government or Asian organized crime gangs.
6. -- Apple
iTunes Radio will be available this fall in the U.S. The streaming music service is free with ads.
7. -- Lululemon athletica
Day's departure follows the company's move earlier this month to restock shelves with its black luon yoga pants after it was forced to pull the popular pants in March following complaints they were too sheer.
8. -- Texas Instruments
The chipmaker said Monday it now expects to earn between 39 and 43 cents a share in the second quarter ending June 30 on revenue of $2.99 billion to $3.11 billion. Texas Instruments forecast in April net income of 37 to 45 cents a share and revenue of $2.93 billion to $3.17 billion.