Here are 10 things you should know for Tuesday, Jan. 14:
1.-- U.S. stock futures were pointing to a higher open following earnings from JPMorgan Chase
(JPM - Get Report) and after retail sales for December rose 0.2%, more than expected.
European shares were trading mixed Tuesday. Asian stocks finished mostly in the red. Japan's Nikkei 225 index closed down 3.1%.
2.-- Retail sales for December rose 0.2%, and 0.7% excluding autos. Economists polled by Reuters had expected core retail sales to rise 0.3% in December.
Business inventories for November are scheduled for 10 a.m. EST.
3.-- U.S. stocks on Monday tumbled as investors remained jittery from last week's weaker-than-expected jobs report, and the prospect that stocks are headed for a correction.
The S&P 500 slumped 1.3% to close at 1,819.20, while the Dow Jones Industrial Average dropped 1.1% to 16,257.94. The Nasdaq tumbled 1.5% to finish at 4,113.30.
4.-- Time Warner Cable
(TWC) called Charter Communications'
(CHTR) proposal to buy the the nation's No. 2 cable TV provider in a cash-and-stock offer that could be worth up to $38 billion "a non-starter."
Charter said it is prepared to bring the offer directly to shareholders after determining there is "no genuine intent" from Time Warner Cable's management to engage in merger talks.
Charter CEO Thomas Rutledge late Monday made public a letter to Time Warner Cable Chairman and CEO Robert Marcus that outlined a proposal that would see Charter Communications pay in the "low $130s" for Time Warner Cable. Bloomberg reported the offer was for $132.50, consisting of $83 in cash and $49.50 in Charter stock.
Time Warner Cable shares were rising 1.6% to $134.50 in premarket trading Tuesday.
Google, the search giant, was an early investor in Nest Labs.
Analyst Shyam Patil of Wedbush Securities told The Associated Press that Google is positioning itself to offer products that work on the "Internet of Things" -- specifically a "connected home" full of intelligent wireless devices that collect data and could be controlled with a smartphone.
Google rose 1.5% to $1,139.50 ahead of the opening bell.
6.-- JPMorgan Chase (JPM - Get Report) reported fourth-quarter profit of $5.28 billion, or $1.30 a share. Revenue on a managed basis was $24.1 billion. During the fourth quarter of 2012, the bank reported earnings of $5.69 billion, or $1.40 a share, on revenue of $24.378 billion.
Adjusted for one-time items, earnings would have been $1.40 a share in the latest fourth quarter.
Analysts were looking for earnings per share of $1.35 on revenue of $23.685 billion. Shares of JPMorgan were up 0.5% in premarket trading to $57.99. 7.-- Wells Fargo (WFC - Get Report) reported a fourth-quarter profit of $1 a share, beating analysts' estimates of 98 cents. Net revenue came in at $20.7 billion, rising slightly from the previous quarter and beating estimates of $20.68 billion.
Shares were falling 0.5% to $45.32 in premarket trading. The stock gained more than 36% in 2013, topping the gains of JPMorgan and Citigroup (C), as management displayed fiscal awareness throughout the year despite a tough interest rate environment.
The company said sales rose 5% at KFC locations, as the chain worked to recover from a supplier controversy.
Yum shares fell 0.8% to $72.81 in premarket trading.
9.-- Valeant Pharmaceuticals (VRX), Actavis (ACT) and Mylan (MYL) all have expressed interest in buying Pfizer's (PFE) branded generics business, but no active discussions are going on at this time, Reuters reported, citing three people close to the matter.
The governor is scheduled to give his State of the State address on Tuesday.
-- Written by Joseph Woelfel
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