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 (S) by $1.5 billion to $21.6 billion. 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 (AAPL - Get Report) unveiled iTunes Radio, an Internet radio service, on Monday at the tech giant's Worldwide Developers Conference. iTunes Radio will be available this fall in the U.S. The streaming music service is free with ads.
7. -- Lululemon athletica (LULU - Get Report) announced Monday that CEO CEO Christine Day was stepping down despite earnings from the yoga-apparel maker beating analysts' estimates. 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 (TXN - Get Report) narrowed its outlook for second-quarter net income and revenue. 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.