NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, May 14:
1. -- U.S. stock futures were pointing to a lower open on Wall Street Tuesday, after a sobering report from the most important European economy, Germany, and ahead of U.S. import/export price data.
2. -- The economic calendar in the U.S. Tuesday includes import and export prices for April at 8:30 a.m. EDT.
3. -- U.S. stocks on Monday finished flat as upbeat retail sales numbers took some pressure off stimulus wind-down concerns. The S&P 500 finished unchanged at 1,633.77. The Dow Jones Industrial Average declined 0.18% to end at 15,091.68. The Nasdaq rose 0.06% to 3,438.79.
4. -- Sony (SNE) said Tuesday its entertainment businesses aren't for sale following a proposal from activist investor Daniel Loeb and his hedge fund Third Point that the Japanese electronics giant spin off its entertainment arm. Sony Entertainment includes one of the biggest film studios in Hollywood and one of the largest music labels in the world. Loeb's hedge fund has a stake of about 6.5% in Sony, making it one of the biggest shareholders, according to The New York Times.
5. -- The Justice Department secretly obtained two months of telephone records of reporters and editors for The Associated Press in what the AP's top executive called a "massive and unprecedented intrusion" into how news organizations gather the news. AP President and CEO Gary Pruitt, in a letter of protest sent to Attorney General Eric Holder on Monday, said the government sought and obtained information far beyond anything that could be justified by any specific investigation. He demanded the return of the phone records and destruction of all copies.
6. -- Bloomberg News Editor-in-Chief Matthew Winkler apologized for the news service's practice of allowing its journalists to access data about how clients used the company's financial data services. Reports on Monday said that more than 10,000 of its clients' private messages containing sensitive pricing data had been leaked online. Reporters have had access to the data, Winkler said, since the 1990s but it was revoked last month after Goldman Sachs complained.
7. -- The BlackBerry Live conference kicks off Tuesday in Orlando, Fla. BlackBerry (BBRY) CEO Thorsten Heins's keynote address is expected to include an update on BlackBerry 10 sales volume and momentum, according to All Things D.
8. -- Sharp, the Japanese electronics maker, posted a record fiscal year loss of 545.4 billion yen ($5.4 billion), and named a new CEO in a management shake-up. The company forecast an operating profit of 80 billion yen for the year ending March 2014, above analysts' estimates.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV