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 20 Premarket Briefing: 10 Things You Should Know

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.

5. -- Microsoft (MSFT) is expected at an event in New York on Tuesday to introduce new Surface and Surface Pro tablets.

Some experts believe the company will unveil a smaller "mini" tablet with a 7- or 8-inch screen, USA Today reported.

"The consensus on (Tuesday's) event seem to be centered on the announcement of a new Surface 'mini' running Windows RT, which seems a likely scenario to me," Charles King, president and principal analyst at Pund-IT, told USA Today. "The fact is that the tablet market has evolved to support both mini (7-8 inch) and maxi (10-inch) sized products, to the point where even Apple, the longest major holdout, finally threw in the towel with the iPad mini."

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

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 17,018.88 -20.61 -0.12%
S&P 500 1,989.44 -2.93 -0.15%
NASDAQ 4,540.0160 +7.9120 0.17%

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