Morning Briefing: 10 Things You Should Know

U.S. stock futures rise; Netflix, McDonald's and Texas Instruments highlight the earnings calendar; Apple is testing larger screens for iPhone and tablets, a report says.
By Joseph Woelfel ,

NEW YORK (

TheStreet

) -- Here are 10 things you should know for Monday, July 22:

1.

-- U.S. stock futures were pointing to gains on Wall Street Monday and Japanese markets rose after the country's ruling government regained control of parliament's upper house, giving Prime Minister Shinzo Abe a mandate to push economic reforms forward.

European stocks were trading higher. Japan's Nikkei 225 index rose 0.5% to finish at 14,658.04 and other Asian markets ended with gains.

2.

-- The

economic calendar

in the U.S. Monday includes existing-home sales for June at 10 a.m. EDT.

3.

--

U.S. stocks

on Friday ended mixed amid disappointing earnings from big tech companies, but the

S&P 500

rose 0.2% on Friday to cap a fourth-consecutive weekly advance.

The

Dow Jones Industrial Average

dipped slightly Friday to close at 15,543.74; the blue-chip index gained 0.51% for the week. The technology-heavy

Nasdaq

fell 0.7% on Friday to 3,587.61.

4.

--

Apple

(AAPL) - Get Report

and its Asian suppliers are testing larger screens for

iPhones and tablets

, officials at the company's suppliers told

The Wall Street Journal

.

Apple has asked in recent months for prototype smartphone screens larger than 4 inches and has also asked for screen designs for a new tablet device measuring slightly less than 13 inches diagonally, the officials told the newspaper. The current iPhone 5 screen is 4 inches; the iPad has a 9.7-inch screen.

An Apple spokeswoman declined to comment for the

Journal

.

Whether either design will make their way to market is unclear, the

Journal

noted, since Apple routinely tests different designs for its products.

5.

--

McDonald's

(MCD) - Get Report

, the giant hamburger chain, is forecast by Wall Street to report on Monday second-quarter earnings of $1.40 a share on revenue of $7.09 billion.

6.

--

Netflix

(NFLX) - Get Report

, the streaming video service, is expected to report profit of 40 cents a share in the second quarter on revenue of $1.07 billion.

Netflix earned $6.2 million, or 11 cents a share, in the year-earlier quarter on revenue of $889 million.

7.

-- Chipmaker

Texas Instruments

(TXN) - Get Report

is expected by analysts on Monday to report second-quarter earnings of 41 cents a share on revenue of $3.06 billion.

8.

-- Starwood Capital's Barry Sternlicht, the creator of the W Hotels chain, submitted a bid for department-store chain

Saks

(SKS)

,

The New York Post

reported.

Shares of

Saks

jumped 8.2% on the news Friday to close at $15.89. One source told the

Post

that Sternlicht has offered between $17 and $18 a share.

9.

--

GlaxoSmithKline

(GSK) - Get Report

, under investigation on suspicion its employees bribed Chinese doctors, said Monday some of its executives may have broken the law,

The Associated Press

reported.

The British drug company said its president for Asia-Pacific and emerging markets met with Chinese police officials who are investigating whether Glaxo employees bribed doctors and hospital administrators to prescribe its drugs.

10.

-- Phil Mickelson won the British Open on Sunday, shooting a final round of 66 to take home his fifth major championship.

-- 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

.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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