Updated to include earnings from Bank of America and Hasbro.
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Here are five things you must know for Monday, July 18:
1. -- U.S. stock futures were pointing higher Monday ahead of earnings from the banking and tech sector and as investors largely shrugged off a failed coup attempt over the weekend in Turkey.
European stocks moved higher on Monday, following a mixed day in Asia, amid M&A excitement.
Oil prices in the U.S. early Monday fell 0.7% to $45.66 a barrel.
The economic calendar in the U.S. Monday includes the NAHB Housing Market Index for July at 10 a.m.
U.S. stocks on Friday finished mixed to close a record-breaking week with the Dow Jones Industrial Average clinching a new all-time closing high.
The S&P 500 fell 0.09% on Friday, snapping a five-day winning streak. The Nasdaq also slid 0.09%. The Dow rose 0.05% to a new record of 18,514.
2. -- U.K. chipmaker ARM Holdings (ARMH) agreed to a buyout bid of more than 24.3 billion pounds ($32.1 billion) from Japan's SoftBank (SFTBF) .
Softbank, the Japanese majority owner of Sprint, said Monday it agreed to offer 1,700 pence a share for the Cambridge, England-based target, or 43% more than Friday's 1,189 pence a share closing price.
The deal is one of Europe's biggest ever in the technology, media and telecommunications sector, as well as the biggest U.K. takeover since AB InBev agreed to buy SABMiller last November for more than $100 billion.
The takeover of ARM will give Softbank a big push into the mobile Internet. ARM's semiconductor know-how is used in 95% of feature phones and smartphones globally.
"We have long admired ARM as a world renowned and highly respected technology company that is by some distance the market-leader in its field," said SoftBank CEO and founder Masayoshi Son. "ARM will be an excellent strategic fit within the SoftBank group as we invest to capture the very significant opportunities provided by the 'Internet of Things.'"\
Shares of ARM were rising 43% in premarket trading to $67.26.
3. -- InterOil (IOC) named ExxonMobil(XOM) - Get Report as the previously unidentified, rival suitor for the Papua New Guinea-focused gas explorer and declared its offer to be superior to that of agreed bidder Oil Search.
ExxonMobil offered a fixed price of $45 per InterOil share, paid in ExxonMobil shares. InterOil shareholders are also in line to receive so-called contingent resource payments of an additional $7.07 a share for each extra trillion cubic feet of gas equivalent discovered at InterOil's Elk-Antelope field above 6.7 trillion cubic feet up to 10 trillion cubic feet.
InterOil's board "in consultation with its legal and financial advisers, has determined that the ExxonMobil offer constitutes a "Superior Proposal," as defined in InterOil's arrangement agreement," with Oil Search. "InterOil has provided notice of such determination to Oil Search," it added.
Sydney-listed Oil Search announced plans on May 20 to acquire InterOil, its partner in the Papua New Guinea PRL15 project (known as Elk-Antelope), for $2.2 billion in cash and stock, a roughly 27% premium.
ExxonMobil, in a statement emailed to Reuters, said it "submitted an offer to acquire InterOil Corporation, which we believe represents a superior proposal."
The stock rose 0.4% in premarket trading.
Tesla has been working on changes to Autopilot since May, after one of its Model S sedans failed to sense a tractor trailer in bright sun and crashed into it. The driver was killed.
In a Twitter post Sunday, Musk said that after talking with German supplier Bosch, which makes its radar sensors, it appears "significant improvements" to Autopilot can be sent to drivers automatically through over-the-air software updates.
Musk gave no details on the improvements. He also didn't say when the updates might happen, the Associated Press reported.