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!

May 6 Premarket Briefing: 10 Things You Should Know

Updated from 6:41 a.m. EDT

Here are 10 things you should know for Tuesday, May 6:

1. 
-- U.S. stock futures were rising Tuesday while European shares struggled to find direction after a mixed day of trading in Asia amid escalating tensions in Ukraine.

China's benchmark Shanghai Composite Index closed flat at 2,028.04. Markets in Tokyo, Hong Kong and Seoul were closed for holidays.

2. -- The economic calendar in the U.S. on Tuesday includes the trade balance for March at 8:30 a.m. EDT.

3. -- U.S. stocks on Monday closed higher, offsetting earlier losses after manufacturing in China contracted and tensions in Ukraine rose.

The Dow Jones Industrial Average closed 0.11% higher at 16,530.55, while the S&P 500 increased 0.19% to 1,884.66. The Nasdaq added 0.34% to finish at 4,138.06.

4. -- U.S. prosecutors were close to securing a guilty plea and a settlement of more than $1 billion from Credit Suisse (CS) over allegations the bank helped wealthy Americans evade taxes, The Wall Street Journal reported, citing people familiar with the discussions.

The Justice Department has been pushing Credit Suisse to plead guilty to a crime and U.S. officials have become more confident they can get such an agreement from the bank in the coming days, the people told the newspaper. A spokesman for Credit Suisse declined to comment for the Journal.

Credit Suisse shares rose 0.1% in premarket trading.

5. -- Merck  (MRK) reached a deal to sell its consumer care business for $14.2 billion to Germany's Bayer

The sale is expected to close in the second half of the year.

Merck said Tuesday it expects after-tax proceeds from the sale of the division of $8 billion to $9 billion.

Merck shares rose 0.6% in premarket trading to $59.

6. -- Walt Disney (DIS) is expected by analysts on Tuesday to report fiscal second-quarter profit of 96 cents a share on revenue of $11.24 billion.

7. -- American International Group (AIG) reported a 27% decline in first-quarter net income because of higher catastrophe losses and lower investment income.

Earnings were $1.61 billion, or $1.09 a share, down from $2.21 billion, or $1.49 a share, a year earlier.

Its after-tax operating income, which excludes realized capital gains and losses among other items, fell to $1.21 a share; analysts were looking for $1.07 a share.

The stock fell 2.5% in premarket trading to $51.40.

8.
 -- Wall Street expects daily deals site Groupon (GRPN) to report a first-quarter loss of 3 cents a share on revenue of $738.4 million.

9. -- UBS (UBS), Switzerland's biggest bank, said first-quarter profit rose 7% on solid returns its wealth management and investment banking divisions.

UBS issued a cautious outlook on the global economy.

"The continued absence of sustained and credible improvements to unresolved issues in Europe, continuing U.S. fiscal and monetary policy issues, geopolitical instability and the mixed outlook for global growth would make improvements in prevailing market conditions unlikely," the bank said.

UBS shares rose 1.5% in premarket trading to $21.15.

10. -- Target (TGT) shares fell 5.4% on Monday following the resignation of CEO Gregg Steinhafel as reverberations from last year's data breach continued to rock the retailer.

In premarket trading on Tuesday, Target shares fell 0.3% to $59.66.

-- 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.

Follow @josephwoe58

 

Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

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