Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, July 1:
1. -- U.S. stock futures were pointing higher Monday, suggesting Wall Street would kick off the first trading day of July with gains.
Asian shares ended Monday's session mixed after data showed China's manufacturing decelerated in June for a second month. Japan's Nikkei 225 rose 1.3%.
European stocks were trading slightly higher.
2. -- The economic calendar in the U.S. Monday includes the ISM index for June at 10 a.m. EDT, and construction spending for May at 10 a.m.
3. -- U.S. stocks on Friday ended mixed. The 1.5% decline in June for the S&P 500 was the first monthly retreat for the index since October as investors struggled to sort through the mixed messages from Federal Reserve officials about a timeline for curbing the central bank's stimulus measure.
The S&P 500 fell 0.4% to close the month at 1,606.28. The Dow Jones Industrial Average dropped 0.8% to 14,909.66 on Friday. The Nasdaq gained 0.04% to 3,403.25. The tech-heavy index jumped 1.4% over the past five trading sessions.
4. -- Onyx Pharmaceuticals
Onyx said Sunday it will now seek competitive bids from other interested acquirers.
Amgen's $10 billion offer is a 38% percent premium to Onyx's closing stock Friday of $86.82. Onyx said Amgen's offer "significantly undervalued" the company.
5. -- Apple
The iPhone maker is seeking protection for the name which is categorized as being for products including a handheld computer or watch device, according to a June 3 filing with the Japan Patent Office that was made public last week, Bloomberg reported.
6. -- Nokia
Nokia will pay €1.7 billion ($2.2 billion) to get full control of the venture, Nokia Siemens Networks, the companies confirmed Monday.
7. -- BlackBerry lost more than one-quarter of its value Friday as shares tumbled after the smartphone maker's quarterly results fell well short of Wall Street estimates.
The stock plummeted 28% to close at $10.46.
BlackBerry posted reported fiscal first-quarter revenue of $3.1 billion, up from $2.8 billion in the year-earlier quarter, but below analysts' forecasts of $3.36 billion. The company reported an adjusted loss from continuing operations of $67 million, or 13 cents a share but analysts were looking for earnings of 6 cents a share.
8. -- Mark Carney, the former head of the Bank of Canada, begins his first day Monday as governor of the Bank of England.
Carney is the first non-Brit to run the 319-year-old bank.