NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, May 21:
1. -- U.S. stock futures were little changed Tuesday, after the S&P 500 eased from its record high during the prior session as investors suspected the Federal Reserve will slow its quantitative easing after officials hinted at the possibility because of a better economic outlook.
2. -- The economic calendar in the U.S. Tuesday is empty.
3. -- U.S. stocks on Monday closed lower on investor concern that the Fed may curb its bond-buying economic stimulus program. The S&P 500 closed off 0.07% to 1,666.29 while the Dow Jones Industrial Average lost 0.12% to 15,335.51. The Nasdaq slid 0.07% to 3,496.43.
4. -- JPMorgan Chase (JPM) holds its annual meeting on Tuesday and among the various proxy items subject to a shareholder vote is a proposal to split Jamie Dimon's dual roles as CEO and chairman. Press reports suggest Dimon could quit if the vote goes against him.
5. -- Home Depot (HD) posted first-quarter earnings of $1.2 billion, or 83 cents a share, up from $1 billion, or 68 cents a share, in the year-earlier quarter, as sales rose 7.4% to $19.1 billion. Analysts were calling for the world's biggest home-improvement retailer to post first-quarter earnings of 77 cents a share on revenue of $18.68 billion. The company lifted its earnings guidance for 2013, saying it sees earnings rising about 17% to $3.52 a share.
6. -- Best Buy (BBY), the electronics retailer, posted adjusted first-quarter earnings of 29 cents a share on revenue of $9.38 billion. Wall Street was looking for earnings of 25 cents a share on revenue of $10.66 billion in the first quarter ended April 30.
7. -- Yahoo! (YHOO) announced Monday the complete upgrade of its popular Flickr photo sharing service, and the leasing of new space for a Yahoo! New York office. The news followed the Internet giant's announcement earlier in the day that it had reached a deal to buy microblogging site Tumblr for $1.1 billion.
8. -- Urban Outfitters (URBN), owner of Anthropologie, Free People and its name brand, posted sales on Monday that fell short of analyst expectations. The retailer said revenue rose 14% for the three months ended April 30 to a record $648.1 million, but than an average forecast of $655.1 million, according to Yahoo! Finance. Profit jumped 39% to $47 million from the same period a year earlier, while earnings per share adjusted for some items totaled 32 cents for the quarter, beating the forecast of 29 cents.
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 + 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