This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Things You Should Know Before the Stock Market Opens

Stocks in this article: JPM YHOO AVP MWW

NEW YORK ( TheStreet) -- U.S. stock futures were pointing lower Monday and European shares were declining as a deal to form a government in Greece have so far failed.

Asian stocks ended mixed Monday; Japan's benchmark Nikkei 225 index rose 0.2% to close at 8,973.84. In China, the Shanghai Composite Index fell 0.6% to 2,380.72 despite a move from the central bank over the weekend to cut bank reserve requirements by 50 basis points.

The Dow Jones Industrial Average fell 1.7% last week, ending at 12,820.60; the index is up 4.9% year to date. The S&P 500 fell 1.1% to finish at 1353.39, and the Nasdaq declined 0.8% to settle at 2956.34.

Three high-ranking JPMorgan Chase (JPM) executives are expected to leave the bank this week, according to a report.

The expected departures come in the wake of the bank's disclosure last week that it lost $2 billion because of trades that went awry.

The Wall Street Journal reported that Ina Drew, the bank's chief investment officer; Achilles Macris, who headed the London desk that placed the trades; and trader Javier Martin-Artajo, a managing director on that desk, will leave the bank.

There are also reports that Bruno Michel Iksil, known as the "London Whale" for big positions he took in credit markets, may leave JPMorgan, which is the biggest bank in the United States by assets.

Yahoo! (YHOO) CEO Scott Thompson has stepped down and the company has reached a settlement with activist hedge fund manager Daniel Loeb's Third Point LLC.

The Internet company said Sunday it appointed Ross Levinsohn, Yahoo!'s global head of media, to serve as interim CEO.

A press release from Yahoo! didn't mention the reasons for Thompson's departure, but the changes come amid controversy over his biography.

Reports Monday say before he resigned at CEO of Yahoo!, Thompson disclosed to the company's board that he has been diagnosed with thyroid cancer. The decision to step down was in part influenced by Thompson's cancer diagnosis, a person familiar with the matter told The Wall Street Journal.

Cosmetics maker Avon (AVP) changed course on a buyout offer it had previously rejected, declaring that it would consider selling itself to Coty after Coty sweetened the deal.

In a two-sentence statement Sunday, Avon said its board would respond to Coty within a week.

Coty offered $23.25 for Avon on March 30, or about $10 billion. On Wednesday, Coty sent Avon a letter raising the price about 6.5% to $24.75 a share, or almost $10.7 billion.

Monster Worldwide (MWW) has drawn interest from a number of potential buyers, including private-equity firm Silver Lake Partners, Reuters reported, but LinkedIn (LNKD), considered a would-be suitor, won't pursue a deal.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:

Copyright 2012 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs