This Day On The Street
Continue to site
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

May 22 Premarket Briefing: 10 Things You Should Know

Updated from 6:51 a.m. EDT

Here are 10 things you should know for Thursday, May 22:

-- U.S. stock futures were rising Thursday and Asian shares ended mostly higher after a manufacturing survey suggested the slowdown in China's economy is flattening out.

European stocks were flat.

Japan's Nikkei 225 index gained 2.1%. China's Shanghai Composite Index dipped 0.2%.

-- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, existing home sales for April at 10 a.m., and leading indicators for April at 10 a.m.

3. -- U.S. stocks on Wednesday advanced as investors cheered meeting minutes of the Federal Reserve's policy-making arm, which didn't signal a move to raise the benchmark interest rate any time soon.

The Dow Jones Industrial Average climbed 0.97% to close at 16,533.06, while the S&P 500 rose 0.81% to 1,888.03. The Nasdaq jumped 0.85% to 4,131.54.

4. -- Tobacco companies Reynolds American (RAI) and Lorillard (LO) are in advanced merger talks, according to reports.

Reynolds American is the second-largest tobacco company in the U.S., while Lorillard is the third-largest. No. 1 Altria has a 50% share of the U.S. tobacco market.

Must Read: May 21 Premarket Briefing: 10 Things You Should Know

The potential takeover would combine Reynolds brands such as Camel and Pall Mall with Lorillard's Newport, the top-selling menthol cigarette. It also would give Reynolds a commanding position in the fast-developing market for electronic cigarettes, according to The Wall Street Journal. Lorillard's blu e-cigarette has nearly a 50% market share in U.S. gasoline and convenience stores.

Reynolds shares weren't active in premarket trading on Thursdaay. Lorillard shares dipped 3 cents.

 -- Printer and computer maker Hewlett-Packard (HPQ - Get Report) is forecast after Thursday's closing bell to report fiscal second-quarter earnings of 88 cents a share on revenue of $27.41 billion.

HP's earnings will be closely watched by investors as they look to see whether CEO Meg Whitman can continue to cut costs and turnaround one of Silicon Valley's most prestigious companies.

6. -- McDonald's (MCD) is scheduled to hold its annual shareholders' meeting on Thursday, where it is expected to be confronted on issues over low pay for fast-food workers, the company's executive pay packages and marketing to children.

Protesters were arrested on Wednesday after refusing to leave corporate property outside McDonald's headquarters.

7. -- Electronics retailer Best Buy (BBY - Get Report) posted first-quarter adjusted profit of 33 cents a share, which was ahead of Wall Street expectations. Sales fell 3.3% to $9.04 billion, below forecasts of $9.21 billion. 

The stock fell 5.3% in premarket trading to $24.02 after Best Buy said it expects same-store sales declines in the second and third quarters.

8. -- Vivendi, the French conglomerate, said it planned to sell half its stake in Activision Blizzard (ATVI).

Vivendi will sell 41.5 million shares of the video game publisher. The offering is expected to close on May 28.

The stake is worth about $866 million based on Activision's closing price Wednesday of $20.87.

9. -- The initial public offering for Chinese online retailer was priced above expectations as it raised almost $1.8 billion.

In the offering, 93.7 million American depositary shares were sold for $19 each. It was indicated the IPO would be priced at between $16 and $18 a share.

 -- Unilever (UL) said it agreed to sell ownership of its Ragu and Bertolli brand sauces in North America to Japan's Mizkan Group for $2.15 billion.

>> Read More: Apple's 7:1 Stock Split: Take a Bite Before June 2

>>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

Follow @josephwoe58


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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BBY $32.27 0.00%
HPQ $12.12 0.00%
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs