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Here are 10 things you should know for Friday, May 20:
1. -- U.S. stock futures were pointing to a rebound Friday on Wall Street after fears of a rate hike from the Federal Reserve led to a selloff in the previous session.
European stocks were higher as oil prices picked up and weak German data suggested the eurozone's central bank may dig even deeper to spur growth.
Asian stocks ended Friday's session mostly higher. Tokyo's Nikkei 225 gained 0.54%.
Oil prices in the U.S. early Friday rose 0.3% to $48.30 a barrel.
2. -- The economic calendar in the U.S. Friday includes Existing Home Sales for April at 10 a.m. EDT.
3. -- U.S. stocks on Thursday fell as chances of a June rate hike and suspicions that terrorism was linked to a plane crash over the Mediterranean Sea kept investors fearful.
The S&P 500 , which lost all year-to-date gains, fell 0.37%, the Dow Jones Industrial Average slipped 0.5%, and the Nasdaq slid 0.56%.
4. -- Verizon Communications(VZ) - Get Report and others are expected to bid around $2 billion to $3 billion in the auction for Yahoo!'s (YHOO) core business, less than what the Internet company was expected to fetch, The Wall Street Journal reported, citing people familiar with the matter.
Verizon, the telecom giant, is considered the front-runner in a field that includes private-equity buyers, some of whom are expected to bid in the low end of that range, the people said. As recently as April, people close to the process said Yahoo!'s core business would likely go for between $4 billion and $8 billion.
Other bidders in contention include buyout firm TPG and an investor group that includes Bain Capital, Vista Equity Partners and former Yahoo! CEO Ross Levinsohn, people familiar with the matter have said, the Journal reported. Dan Gilbert, the Detroit investor and founder of Quicken Loans, is also in the mix and may be backed by billionaire investor Warren Buffett.
5. -- Gap(GPS) - Get Report said Thursday it would close its 53-store Old Navy fleet in Japan in a bid to cut costs, and plans to exit about 22 Banana Republic stores in undisclosed international markets sometime this year.
"The company remains committed to growing its brands in regions where it has a structural advantage and the greatest opportunity to gain market share," said Gap in a statement.
The store closures come after another rough period for Gap in the first quarter as efforts to improve styles and fits for consumers fell flat. Gap reported first-quarter earnings of 32 cents a share, in line with Wall Street forecasts and down sharply from 56 cents a year earlier. Same-store sales fell 3% at Gap, 11% at Banana Republic and 6% at Old Navy.
The company also pulled its full-year guidance.
"The company is not reaffirming its earnings per share guidance for fiscal year 2016," said Gap, adding that current Wall Street forecasts for $1.92 a share were "within a reasonable range of potential outcomes." The company conceded that trends in apparel would need to improve in order to achieve the estimate. Previously, Gap estimated earnings for the full year of $2.20 to $2.25 a share.
6. -- Deutsche Bank(DB) - Get Report is investigating a series of trades that may have improperly generated millions of dollars in personal profits, some at the bank's expense, for a handful of current and former employees, The Wall Street Journal reported, citing people familiar with the matter.
Among those who internal auditors believe profited from the trades is Colin Fan, the people said. Fan was co-head of Deutsche Bank's investment bank when he left as part of a shake-up in October. The auditors estimate Fan has made $9 million on a roughly $1 million investment, the Journal reported.
Tesla seeks to finance a plan to expand production of its electric vehicles to 500,000 a year by 2018.
The shares were priced at $215 by lead managers Morgan Stanley, Goldman Sachs, Deutsche Bank, Citigroup and Bank of America Merrill Lynch, IFR said.
The pricing was lower than its previous sale price of $242 in August 2015 and below a year high of $286.65 hit in July 2015, according to the report.
8. -- European Union state aid regulators aim to rule on Amazon.com's(AMZN) - Get Reporttax deal with Luxembourg by July, two people familiar with the matter told Reuters, and it may order the country's tax authorities to recover about 400 million euros ($448 million) in back taxes.
The European Commission's decision will come after a near-two year investigation into whether a Luxembourg tax ruling in 2003 for an Amazon subsidiary allows the company to pay less tax there than other companies, giving it an unfair advantage.
9. -- Australia's Oil Search agreed to buy rival InterOil (IOC) for $2.2 billion.
The companies operate oil and gas assets in Papua New Guinea.