Updated from 5:51 a.m. EDT
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Here are five things you must know for Monday, May 8:
1. -- U.S. stock futures traded marginally lower Monday and European shares were mixed after an historic win for pro-Europe candidate Emmanuel Macron in France's presidential election runoff on Sunday.
Stocks in France declined 0.86%.
Asian stocks finished mostly higher in the wake of the win, which saw Macron gain around 65.5% of the overall vote compared to 34.5% for his anti-European rival, Marine Le Pen, the widest margin of victory in a second round runoff in 50 years. Stocks in China tumbled, however, following weaker-than-expected trade data.
The economic calendar in the U.S. on Monday includes the Labor Market Conditions Index for April at 10 a.m. EDT
St. Louis Federal Reserve Bank President James Bullard is scheduled to speak Monday on the "Shifting Sands of Low Interest Rates" in Fernandina Beach, Fla., at 8:35 a.m., while Cleveland Fed President Loretta Mester will discuss the economic outlook and monetary policy at the Chicago Council on Global Affairs Public Breakfast Program -- "From Main Street to Wall Street: Economic Growth, Monetary Policy, and the Federal Reserve" -- in Chicago at 8:45 a.m.
Jim Cramer and the AAP team trimmed their stake in Newell Brands ahead of the company's earnings report. Find out more with a free trial subscription to Action Alerts PLUS.
Earnings are also expected from Tyson Foods (TSN) - Get Tyson Foods, Inc. Class A Report , Sysco (SYY) - Get Sysco Corporation Report , AMC Entertainment (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report , Pandora (P) and Hertz (HTZ) - Get Hertz Global Holdings Inc Report .
2. -- Comcast (CMCSA) - Get Comcast Corporation Class A Reportand Charter Communications (CHTR) - Get Charter Communications, Inc. Class A Report are expected to announce a wireless partnership on Monday, aimed at cutting the costs of entering the wireless market, as well as speeding up entry, a source told Reuters.
The deal will bar either company from entering into a material transaction for a year without the other company's consent, the source said. That would prevent either company from tying up with a wireless carrier immediately on its own, Reuters noted.
Reuters reported earlier this year that Verizon Communications was interested in exploring a combination with Charter. Analysts and investors also have speculated that Comcast could buy a U.S. carrier, such as T-Mobile US or Sprint.
The agreement between Comcast and Charter would allow the companies to cut costs and share technology expertise, as well as offer customers benefits such as seamless connection between their Wi-Fi hotspots, the source told Reuters.
3. -- Sinclair Broadcast Group (SBGI) - Get Sinclair Broadcast Group, Inc. Class A Report is poised to control more than a third of the country's local television stations as it nears a deal to buy Tribune Media (TRCO) - Get Tribune Media Co. Class A Report , The New York Times reported.
A deal between the companies, expected to be announced as soon as Monday morning, would cement Sinclair's status as a growing power in the broadcast industry, the Times noted. The company, whose 173 properties already make it the largest owner of local stations in the United States, emerged from a field of potential bidders for Tribune Media that included 21st Century Fox (FOXA) - Get Fox Corporation Class A Report and Nexstar Media Group (NXST) - Get Nexstar Media Group, Inc. Class A Report .
Sinclair was expected to pay just under $44 a share, the Times reported, citing some of those briefed on the matter, valuing Tribune at about $3.8 billion.
Tribune Media shares closed Friday at $40.29 a share.
4. -- Wells Fargo (WFC) - Get Wells Fargo & Company Reportwas rising slightly inpremarket trading on Monday after Warren Buffett criticized the bank and its former CEO for reacting too slowly to last year's bogus-accounts scandal.
Buffet-run Berkshire Hathaway (BRK.A) - Get Berkshire Hathaway Inc. Class A Report , the largest shareholder of Wells Fargo's with a 10% holding worth around $27 billion, said management had encouraged the "wrong type of behavior" that ultimate led to employees opening fake accounts in order to earn performance bonuses.
Also at Berkshire Hathaway's annual shareholder meeting this weekend in Omaha, Neb., Buffett and Berkshire Vice Chairman Charlie Munger said they regretted his not getting into Google [Alphabet] (GOOGL) - Get Alphabet Inc. Class A Report years ago.
"We failed you [on Google]," conceded Munger to shareholders at Berkshire Hathaway's meeting. Buffett added that he should have recognized Google's prosperous future just based on Berkshire's interaction with the company. Google's service was the best around in its early days, Buffett said, and that Berkshire was paying the company huge sums to drive clicks for Geico ads.
"We have almost never seen a business like it," Buffett said.
Director James Gunn's second Guardians film opened 54% higher than the 2014 runaway hit, according to studio estimates Sunday.
More trending stories on TheStreet:
- Why Tesla's Explosive Stock Price Deserves to Keep Plummeting
- Thanks to Millennials, Amazon Controls 70% of the Voice-Enabled Speaker Market
- Wake Up Wall Street: Concerns About The U.S's Possible Withdrawal From Paris Climate Agreement
- Apple as Consumer Product Company; Trump as Loose-Cannon-in-Chief: Jim Cramer's View
- You Must Start Investing Now Because the Dow May Hit 100,000 By 2030