This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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!

Morning Briefing: 10 Things You Should Know

Stocks in this article: AAPL ONXX AMGN BBRY NOK SHLM

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 (ONXX) confirmed receipt of a takeover offer from Amgen (AMGN) valued at $120 a share but said the bid was too low.

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 (AAPL) is seeking a trademark for "iWatch" in Japan, Bloomberg reported.

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 (NOK), the Finnish smartphone maker, agreed to buy Siemens' (SI) stake in a joint venture the companies have for telecommunications equipment.

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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
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!

Markets

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 Bankrate.com

  • 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