Updated from 6:08 a.m. ET
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Here are five things you must know for Wednesday, June 28:
1. -- U.S. stock futures pointed to a mixed start for Wall Street on Wednesday, June 28, while shares in Europe and Asia declined, following a decline in U.S. stocks on Tuesday, June 27, that was brought on by a decision from Senate Republicans to put off a vote on their Obamacare repeal-and-replace bill until after the July 4 recess.
The Senate decided to delay a vote on the Better Care Reconciliation Act because Senate Majority Leader Mitch McConnell (R-Ky.) didn't have enough support from within his own party. Stocks in the healthcare sector fell on the news.
Meanwhile, Federal Reserve Chair Janet Yellen, in a speech in London on Tuesday, didn't say anything to contradict earlier statements about plans for the Fed to gradually remove stimulus and raise rates if economic conditions continue to improve. Investors took that to mean those plans remain on track.
The economic calendar in the U.S. on Wednesday includes International Trade in Goods for May at 8:30 a.m. ET, Pending Home Sales for May at 10 a.m., and Oil Inventories for the week ended June 23, at 10:30 a.m.
2. -- A.P. Moeller-Maersk A/S (AMKBY) , the world's biggest shipping company, said Wednesday it has contained the Petya ransomware virus that shut down some of its systems in an ongoing global cyber attack but is still assessing its impact.
Maersk, one of the first companies to fall victim to the latest spread of ransomware, had temporarily shut down a shipping terminal in India, the country's biggest, following Tuesday's attack but said key business units such as Maersk Oil and Maersk Drilling had not been "operationally affected."
The Petya ransomware virus appears to have originated in Ukraine. Globally, hospitals, government offices and major multinationals were among the casualties of the attack, according to multiple reports.
The pace of the virus appeared to slow by Wednesday, according to the Associated Press.
Glenview met recently with leaders of both companies and pushed for changes in a plan to break the combined company into three parts, according to a letter the hedge fund sent to its investors late Tuesday, The Wall Street Journal reported.
The fund also criticized Dow's decision to delay the retirement of CEO Andrew Liveris, who was originally supposed to step down around now but now plans to stay on longer, according to the letter, which was reviewed by Journal.
Glenview said it believes the delay will impact Dow's ability to find a new leader.
Glenview's letter said it owns about $1 billion of Dow stock, amounting to less than 1% of the company's total value.
The announcement of the litigation capped another difficult day for Toshiba's management who were obliged to front an angry shareholder meeting to admit they had missed a self-imposed deadline to finalize an agreement to sell Toshiba Memory Corp.
Toshiba needs to quickly sell its memory chip unit to cover a record ¥950 billion loss, and potential further liabilities, resulting from the collapse of its U.S. nuclear energy division, Westinghouse Electric.
Last week, Toshiba named a consortium led by Bain Capital LLC as the preferred bidder for its memory chip unit following an auction and said it hoped to sign a binding agreement before Wednesday, June 28.
5. -- Royal Philips NV (PHG) - Get Report said Wednesday it agreed to buy medical devices maker Spectranetics Corp. (SPNC) in a deal that carries an enterprise value of around €1.9 billion ($2.15 billon).
Philips will pay $38.50 a share for Colorado Springs, Colo.-based Spectranetics, a 26.6% premium to its closing price Tuesday of $30.40.
The deal is expected to close in the third quarter.
"Spectranetics' highly competitive product range, integrated with our portfolio of interventional imaging systems, devices, software and services will enable clinicians to decide, guide, treat and confirm the appropriate cardiac and peripheral vascular treatment to deliver enhanced care for patients with better outcomes, as well as significantly boost recurring revenue streams for Philips," said Philips CEO Frans van Houten.
Spectranetics shares rose 25.7% in premarket trading on Wednesday to $38.20.
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