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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Morning Briefing: 10 Things You Should Know

Stocks in this article: AAPLCLEAPSFDTBAJBHT

NEW YORK ( TheStreet) -- Here are 10 things you should know for Monday, July 15:

1. -- U.S. stock futures were pointing to gains on Wall Street Monday despite a slowdown in China's economic growth.

China's economy in the second quarter grew 7.5% from a year earlier; in the previous quarter, growth was 7.7%.

Asian stocks finished Monday's session with gains. China's Shanghai Composite Index rose 1% to close at 2,059.39. Markets in Japan were closed for a public holiday.

European stocks were rising.


2. -- The economic calendar in the U.S. Monday includes retail sales for June at 8:30 a.m. EDT, the Empire State Manufacturing Index for July at 8:30 a.m., and business inventories for May at 10 a.m.


3. -- U.S. stocks on Friday ended with gains as strong earnings offset soft economic data.

The S&P 500 gained 0.31% to hit an all-time closing high at 1,680.19. The index gained 2.96% for the week. The Dow Jones Industrial Average added 0.02% to 15,464.30. The blue-chip index increased 1.07% for the week. The Nasdaq closed up 0.61% to 3,600.08. The tech-heavy index rose 3.47% last week.


4. -- Citigroup (C) is forecast by analysts to report on Monday second-quarter earnings of $1.17 a share on revenue of $19.75 billion. That would represent year-over-year EPS growth of 17%, with revenue increasing about 6%.

Citigroup's earnings will be released at 8 a.m.


5. -- Apple (AAPL) has begun a hiring spree to tackle design problems with its "iWatch" wrist computer, the Financial Times reported.

The iPod and iPhone maker has begun hiring "aggressively" for the project in recent weeks, people familiar with Apple's plans for the wearable device told the newspaper.

The move by Apple shows it has stepped up development but indicates the project involves "hard engineering problems that they've not been able to solve," one source said.


6. -- AT&T (T) agreed to buy Leap Wireless (LEAP) for $15 a share, or $1.2 billion, in a deal that could bolster the telecom's wireless capacity and adds to a frenetic two years of consolidation in the industry.

AT&T will pick up Leap's Cricket brand and about 5 million subscribers on its CDMA network, under Friday's proposed deal.

Leap shares closed at $7.98 a share on Friday, but soared in after-hours trading to $17.31.


7. -- Hedge fund Starboard Value LP, which owns a big stake in Smithfield Foods (SFD), is hiring advisers to help press its case for a different deal for the giant pork producer than one already agreed to with China's Shuanghui International, people familiar with the matter told The Wall Street Journal.

Smithfield agreed in May to be bought by Shuanghui for $34 a share, or $4.7 billion.

Starboard said last month it had taken a 5.7% stake in Smithfield.

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 17,815.41 +0.47 0.00%
S&P 500 2,070.21 +3.18 0.15%
NASDAQ 4,777.8810 +19.6290 0.41%

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