This Day On The Street
Continue to site
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

Morning Briefing: 10 Things You Should Know

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 - Get Report) 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 - Get Report) 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 - Get Report), 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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $127.09 -1.30%
AMGN $160.47 -1.00%
BBRY $10.00 -1.50%
NOK $6.38 -0.83%
ONXX $0.00 0.00%

Markets

DOW 18,035.70 -34.70 -0.19%
S&P 500 2,106.20 -8.29 -0.39%
NASDAQ 4,970.0880 -46.8410 -0.93%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs