Updated from 6:24 a.m. EDT
Here are 10 things you should know for Tuesday, May 20:
1. -- U.S. stock futures were pointing to a lower start for Wall Street on Tuesday as markets around the globe traded mixed.
European stocks moved lower in early trading while Asian shares ended mostly higher. Japan's Nikkei 225 index rose 0.5%.
2. -- The economic calendar in the U.S. on Tuesday includes the ICSC-Goldman Store Sales report at 7:45 a.m. EDT, and the Redbook weekly chain-store sales report at 8:55 a.m.
3. -- U.S. stocks on Monday gained Monday as small-cap and tech stocks surged against a backdrop of mixed M&A success.
The Dow Jones Industrial Average added 0.15% to 16,516.46, while the S&P 500 was up 0.4% to 1,885.45. The Nasdaq jumped 0.88% to 4,126.40.
4. -- Swiss bank Credit Suisse (CS) pleaded guilty to helping wealthy Americans avoid paying taxes through secret offshore accounts and agreed to pay about $2.6 billion to the U.S. government and regulators.
The Justice Department said it was the largest penalty imposed in any criminal tax case. It is also the largest bank to plead guilty in more than 20 years, according to The Associated Press.
Credit Suisse shares rose 1.2% in premarket trading $29.44.
Microsoft fell 0.3% in premarket trading. 6. -- No. 1 home-improvement retailer Home Depot (HD) reported earnings of $1 a share in the first quarter on sales of $19.7 billion.
Analysts expected first-quarter earnings of 99 cents a share on revenue of $19.95 billion.
Home Depot raised its full-year guidance to $4.42 a share, matching forecasts.
The stock fell 1% in premarket trading to $75.71. 7. -- GoPro, the maker of durable digital cameras that can be used to capture adventure sports, filed for an initial public offering on Monday with a $100 million placeholder. The company, which reported nearly $1 billion in 2013 revenue, will look to list its shares on Nasdaq under ticker "GPRO." GoPro's IPO filing comes at a transition period for the camera-maker. Since launching its first HD device in 2009, the company has sold more than 8.5 million HD cameras and 3.8 million in 2013 alone. Now, as sales growth slows, GoPro is seeking to expand into a growing market for video content sharing. 8. -- Big box retailer TJX (TJX) is expected by Wall Street to report earnings of 67 cents a share in the first quarter on sales of $6.6 billion. 9. -- Twitter (TWTR) is considering a deal to acquire SoundCloud, the music and audio-sharing company, Re/code.net reported, citing people familiar with both companies. Berlin-based SoundCloud is a free service that lets users upload and share audio files around the Web. It has more than 250 million users.
If the deal goes forward, it likely would be Twitter's most expensive acquisition by some margin, according to Re/code. SoundCloud announced a $60 million funding round that valued the company at $700 million earlier this year.
Twitter shares rose 0.4% to $32.20 in premarket trading on Tuesday. 10. -- Burger King (BKW) is scrapping its 40-year-old "Have It Your Way" slogan in favor of the more personal "Be Your Way." The chain said the new tag line will roll out across its marketing in the U.S., including in a TV ad that began airing Monday night. >> Read More: DISH Not Running Out of Dance Partners >> Read More: An Apple Acquisition That Could Squash Netflix >>Read More: Hedge Funds Hate These 5 Stocks - Should You?
-- Written by Joseph Woelfel
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV