Here are five things you must know for Monday, April 23:  

1. -- Stock Futures Mostly Lower as Bond Yields Rise

U.S. stock futures pointed to a mostly weaker start for Wall Street on Monday, April 23, as benchmark 10-year Treasury notes inched closer to 3% for the first time in more than four years and as Wall Street prepares to enter the heart of U.S. corporate earnings season.

Benchmark 10-year notes traded as high as 2.99% on Monday, continuing gains made last week. On Friday, April 20, the 10-year traded as high as 2.956%, the highest level since January 2014.

Treasury yields have risen sharply over the past two weeks and global oil prices have spiked, stoking concerns that inflation will begin to accelerate in the coming months. The Federal Reserve's signaling on future interest rate hikes also has supported rising yields.

Contracts tied to the Dow Jones Industrial Average declined 13 points, while those linked to the broader S&P 500 fell 0.60 points. Futures for the Nasdaq were up 1.25 points.

The U.S. economic calendar on Monday includes the PMI Composite Flash for April at 9:45 a.m. ET, and Existing Home Sales for March at 10 a.m.

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2. -- Alphabet, T-Mobile and Hasbro Report Earnings

Halliburton Co. (HAL)  reported first-quarter adjusted profit of 41 cents a share, 1 cent ahead of analysts' estimates. Revenue of $5.74 billion slightly bear forecasts. The stock rose 0.08% in premarket trading. 

Hasbro Inc. (HAS)  tumbled 4.8% in premarket trading after the toymaker's first-quarter adjusted earnings of 10 cents a share came in well below estimates of 33 cents. 

Earnings reports are also expected Monday from Google parent Alphabet Inc. (GOOGL) , Alaska Air Group Inc. (ALK) , Kimberly-Clark Corp. (KMB) , T-Mobile US Inc. (TMUS)  and Whirlpool Corp. (WHR) .

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The current earnings season has started off strongly, with 80% of the S&P 500 companies that have reported so far beating Wall Street forecasts, according to data compiled by FactSet, compared to the five-year average.

3. -- Akorn Plunges as Fresenius Drops Takeover Plans

Akorn Inc. (AKRX) shares fell 34.1% in premarket trading on Monday after Germany's Fresenius SE dropped its planned $5 billion takeover of the generic drugmaker after a probe into possible data breaches by the U.S. Food & Drug Administration.

Fresenius said it found "material" breaches of FDA data integrity rules as part of its own investigation into allegations leveled against Akorn earlier this year and offered to delay its proposed takeover if the ompanyc could supply information that would allow Fresenius to reconsider. The Germany company said Akorn declined that offer.

"We categorically disagree with Fresenius' accusations," Akorn said in a statement late Sunday, April 22. "The previously disclosed ongoing investigation, which is not a condition to closing, has not found any facts that would result in a material adverse effect on Akorn's business and therefore there is no basis to terminate the transaction,"

"We intend to vigorously enforce our rights, and Fresenius' obligations, under our binding merger agreement," the statement added.

4. -- Southwest Cancels Flights for Engine Inspections

Southwest Airlines Inc. (LUV) has canceled 40 flights a day since it announced a voluntary inspection program following a deadly accident during a flight from New York to Dallas.

"Since we announced our voluntary, accelerated inspection program on Tuesday night (April 17), we have maintained minimal disruption to our operation and only needed to cancel about 40 flights each day - again on a total operating schedule of approximately 4,000 daily flights," Southwest said in a statement on Sunday.

Southwest announced last week that it would, over the next 30 days, inspect other CFM56-7B engines, the model involved in the explosion aboard the flight last week.

5. -- UBS Disappoints With Outlook

UBS AG (UBS) , Switzerland's biggest investment bank, fell 3% in Switzerland on Monday after it posted a 23% rise in pretax earnings but disappointed investors with a relatively tepid forecast for investment bank profits in the year ahead. 

The bank cautioned that in the second quarter "funding costs related to long-term debt and capital instruments issued to comply with regulatory funding and liquidity requirements will be higher compared with the same period in 2017." 

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