Here are 10 things you should know for Monday, Feb. 3:
1.-- U.S. stock futures reversed course and were pointing to modest losses for Wall Street on Monday. Global stocks declined as another survey indicated that January's factory output in China slowed from December.
European stocks declined while Asian shares ended Monday's session with losses. Japan's Nikkei 225 index fell 2% to 14,619.13. Markets in Hong Kong, China, Taiwan and Malaysia were closed for Lunar New Year holidays
2.-- The economic calendar in the U.S. Monday includes the ISM Index for January at 10 a.m. EST and construction spending for December at 10 a.m.
3.-- U.S. stocks fell on Friday and posted the worst month since May 2012 as Amazon (AMZN) - Get Report, Wal-Mart (WMT) - Get Report, MasterCard (MA) - Get Report and Mattel (MAT) - Get Report tumbled on disappointing quarterly results, and global equities slumped on renewed concerns that emerging market economies, led by China, are slowing more than expected.
- The S&P 500 declined 0.65% to close Friday at 1,782.59, while the Dow Jones Industrial Average fell 0.94% to 15,698.85. The Nasdaq slid 0.47% to 4,103.88. The S&P 500 fell 3.18% in January, which was the worst tumble since a 6.27% drop in May 2012. The Dow tumbled 4.88% in January, which was its biggest loss since a 6.21% drop in May 2012.
Jos. A. Bank is in discussions for a possible takeover of Eddie Bauer, people familiar with the matter told the Journal over the weekend. Such an acquisition could value Eddie Bauer at as much as $1 billion, one of the people said. A deal between the two companies isn't imminent, another of the people told the Journal.
Jos. A. Bank shares fell 5.5% in premarket trading Monday to $53.11
5.-- Federal Reserve Vice Chair Janet Yellen will be sworn in Monday to succeed Ben Bernanke, becoming the first woman to lead the central bank in its 100-year history.
The Fed said last week the swearing-in will take place at 9 a.m. on Monday. The ceremony will be private, with Yellen sworn in by Fed Gov. Daniel Tarullo, the senior member of the Fed's board, The Associated Press reported.
6.-- The UK.'s Smith & Nephew reached an agreement to buy medical devices company ArthroCare (ARTC) for $1.7 billion in cash.
Smith & Nephew will pay $48.25 a share in cash for ArthroCare, which is based in Austin, Texas. ArthroCare shares closed Friday at $45.38.
"This is a great deal that rebalances Smith & Nephew in areas of higher growth," Smith & Nephew CEO Olivier Bohuon said on a call with reporters Monday, referring specifically to sports medicine.
ArthroCare shares rose 6.4% in premarket trading to $48.26.
Charter is considering a bid in the low 140s per share range, the people told Reuters, up from its current offer of $132.50 a share that values the cable operator at $37.3 billion.
A new price at around $142.50 a share has been discussed, but no decision has been made, one of the people told Reuters.
Time Warner Cable shares rose 2.3% in early trading Monday to $136.29.
8.-- Yum Brands (YUM) - Get Report, the parent company of KFC, Pizza Hut and Taco Bell, is expected by analysts after Monday's closing bell to report fourth-quarter earnings of 80 cents a share on sales of $4.26 billion.
Yum shares fell 0.2% in early trading.
9.-- Automakers including General Motors (GM) - Get Report and Ford (F) - Get Report are scheduled to release sales for January on Monday. For January, most analysts are predicting sales at an annual rate of around 15.6 million, only a small increase from January 2013.
10.-- The Seattle Seahawks defeated the Denver Broncos, 43-8, on Sunday to win Super Bowl XLVIII.
-- Written by Joseph Woelfel
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