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Here are 10 things you should know for Tuesday, May 17:
1. -- U.S. stock futures suggested Wall Street would open higher ahead of key inflation data.
European stocks rose on the back of a generally positive corporate news flow and gains in Asia.
2. -- The economic calendar in the U.S. Tuesday includes the Consumer Price Index for April at 8:30 a.m. EDT, Housing Starts and Building Permits for April at 8:30 a.m., and Industrial Production and Capacity Utilization for April at 9:15 a.m.
3. -- U.S. stocks on Monday rose as Apple(AAPL) - Get Report reclaimed its crown as the world's largest company after a Warren Buffett-inspired rally pulled the iPhone maker back from last week's multi-year lows.
The S&P 500 rose 0.98%, the Dow Jones Industrial Average added 1%, and the Nasdaq gained 1.2%.
4. -- David Einhorn's hedge fund Greenlight Capital increased its holdings in Apple and Yahoo! (YHOO) during the first quarter.
Greenlight bought 1.9 million Apple shares, boosting its position to 8.2 million, according to a filing Monday, The Wall Street Journal reported. Greenlight added 2.4 million Yahoo! shares, increasing its stake to 4.4 million.
Apple gained 3.7% on Monday.
The Street's Jim Cramer said the gains may not last, however.
"Just be aware that the halo must come from earnings and that anything that is about Buffett will be forgotten about by Friday," Cramer said.
5. -- Corvex Management, a hedge fund run by Keith Meister, is pressing Pandora Media's (P) management to explore a sale, saying that the Web-radio provider hasn't been able to boost returns for shareholders even though it has a "great product," Bloomberg reported.
The activist investor, which disclosed an increased 9.9% stake in shares and derivatives in Pandora, made public a letter to the board, referring to discussions with the Internet radio service about exploring a sale.
The two sides have held talks over several months about Pandora's business, including the need to explore the value it could realize in a sale and evaluating such a move against other options such as continuing to operate on a stand-alone basis, the hedge fund said in a filing Monday, Bloomberg reported.
Revenue was $22.762 billion, which also topped forecasts.
The company also raised its guidance on 2016 earnings to $6.27 a share.
7. -- Lending Club(LC) - Get Report shares were tumbling almost 11% in premarket trading Tuesday after the peer-to-peer lender disclosed it received a federal subpoena following the resignation of Chairman and CEO Renaud Laplanche over a probe concerning $22 million in loans sold improperly in March and April to an investor that didn't meet that investor's criteria.
Lending Club said it was issued a subpoena over what it called "non-conforming sales."
8. -- Office Depot (ODP) - Get Report Chairman and CEO Roland Smith assured investors Monday that the future for the office supplies retailer remains bright, just days after judge blocked a deal that would have merged Staples (SPLS) and Office Depot.
Smith, in a call with analysts, highlighted Office Depot's lack of near-term debt maturities, solid operating cash flow generation last year, opportunities to cut more costs as part of its integration of Office Max and the rollout of smaller store concept that has been in test phase to 20 locations later this year as reasons to be optimistic.
"The core office supplies business continues to decline, and the status quo will not allow us to achieve our sales goals," said Smith. The company said it is analyzing various capital structure and shareholder return alternatives, and has engaged Bain & Co. to assist with a comprehensive strategic review of its business. The review is expected to be finished sometime in the third quarter.
Office Depot stopped short of saying it was still for sale, but instead executives said the strategic review will focus on potentially enhancing shareholder value through dividends and stock buybacks.
The change could happen in the next two weeks, said the person. Links currently take up 23 characters, even after Twitter automatically shortens them. The company declined to comment for the Bloomberg story.
10. -- U.K. wireless telecommunications company Vodafone(VOD) - Get Reportpredicted earnings growth of between 3% and 6% in the current year and said it would invest more than previously expected to expand and improve its services.
Vodafone, of Newbury, England, said organic Ebitda -- excluding currency fluctuations -- would rise by 3% to 6% in the year ending next March after increasing by 2.7% to 11.61 billion pounds in the fiscal year just ended. That was marginally below a Jefferies forecast for Ebitda of 11.66 billion pounds. On a reported basis, fiscal 2016 Ebitda declined 2.5%.