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TheStreet Open House

Dec. 10 Premarket Briefing: 10 Things You Should Know

Stocks in this article: GMLULUTXNTOLAZO

Here are 10 things you should know for Tuesday, Dec. 10: 

1.-- U.S. stock futures were pointing to modest gains for Wall Street on Tuesday.

European shares were flat in early trading. Asian stocks ended the session mostly lower. Japan's Nikkei 225 index declined 0.3%. China's Shanghai Composite closed nearly unchanged. Data released Tuesday showed that China's factory production rose 10% in November from a year earlier, slightly lower than analysts' forecasts, while retail sales rose a stronger-than-expected 13.7%.

2.-- The economic calendar in the U.S. Tuesday includes wholesale inventories for December at 10 a.m. EST.

3.-- U.S. stocks on Monday closed higher, in line with major global equities, as Chinese data showing rising exports offset concerns the Federal Reserve will announce steps as early as next week to reduce its bond-buying program.

The S&P 500 gained 0.19% to 1808.44, while the Dow Jones Industrial Average increased 0.04% to 16,026.37. The Nasdaq was 0.15% higher to 4,068.75. 

4.-- South Africans gathered at FNB stadium in Johannesburg on Tuesday for the memorial service for former South African President Nelson Mandela. 

Mandela died on Thursday after a prolonged lung infection. He was 95.

President Obama, former President George W. Bush and former Secretary of State Hillary Rodham Clinton are attending the service.

5.-- The Treasury Department sold its final shares of General Motors  (GM)GM on Monday, recovering $39 billion of the $49.5 billion it spent to save the automaker from collapse at the height of the financial crisis five years ago.

Without the bailout, the U.S. would have lost more than a million jobs, and the economy could have slipped from recession into a depression, Treasury Secretary Jacob Lew said on a conference call with reporters.

6.
-- The finalization of the Volcker Rule is expected Tuesday. The three U.S. bank regulators, as well as the Securities and Exchange Commission and the Commodity Futures Trading Commission, will unveil details of the final rule at 9:30 a.m. on Tuesday, according to Reuters.

The Volcker Rule -- named after former Federal Reserve Chairman Paul Volcker -- is meant to ban U.S. systemically important financial institutions from short-term "proprietary trading." The idea is that big banks enjoying the advantage of FDIC-insured deposits shouldn't be "gambling" with that money.

7.-- Lululemon Athletica (LULU), the maker of popular yoga pants, named Laurent Potdevin as CEO and said Chip Wilson, the company's founder, plans to resign as non-executive chairman.

Potdevin will succeed Christine Day, who has been CEO since 2008. Day announced her intention to resign last June.

Lululemon has had a rough 2013. It had to recall pants in March over complaints about sheerness, Day surprisingly resigned in June, and it received more recent complaints about sheerness and pilling on the expensive pants.

8.-- Chipmaker Texas Instruments (TXN) narrowed its fourth-quarter outlook.

The company said it expects to earn between 44 cents and 48 cents a share in the quarter; it previously forecast earnings of 42 cents to 50 cents a share. Analysts were anticipating earnings of 47 cents.

Texas Instruments said it anticipates fourth-quarter revenue of between $2.92 billion and $3.04 billion; it's previous estimate called for revenue of $2.86 billion to $3.1 billion. 

9.-- Homebuilder Toll Brothers (TOL) on Tuesday posted fiscal fourth-quarter earnings of 54 cents a share on revenue of $1.04 billion. Wall Street forecast earnings of 43 cents on revenue of $1.03 billion.

10.
--  AutoZone (AZO) is expected by analysts on Tuesday to post fiscal first-quarter earnings of $6.28 a share on revenue of $2.1 billion. 

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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