Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, May 14:

1. -- U.S. stock futures were pointing to a lower open on Wall Street Tuesday, after a sobering report from the most important European economy, Germany, and ahead of U.S. import/export price data.


2. -- The economic calendar in the U.S. Tuesday includes import and export prices for April at 8:30 a.m. EDT.


3. -- U.S. stocks on Monday finished flat as upbeat retail sales numbers took some pressure off stimulus wind-down concerns.

The S&P 500 finished unchanged at 1,633.77.

The Dow Jones Industrial Average declined 0.18% to end at 15,091.68. The Nasdaq rose 0.06% to 3,438.79.


4. -- Sony ( SNE) said Tuesday its entertainment businesses aren't for sale following a proposal from activist investor Daniel Loeb and his hedge fund Third Point that the Japanese electronics giant spin off its entertainment arm.

Sony Entertainment includes one of the biggest film studios in Hollywood and one of the largest music labels in the world.

Loeb's hedge fund has a stake of about 6.5% in Sony, making it one of the biggest shareholders, according to The New York Times.


5. -- The Justice Department secretly obtained two months of telephone records of reporters and editors for The Associated Press in what the AP's top executive called a "massive and unprecedented intrusion" into how news organizations gather the news.

AP President and CEO Gary Pruitt, in a letter of protest sent to Attorney General Eric Holder on Monday, said the government sought and obtained information far beyond anything that could be justified by any specific investigation. He demanded the return of the phone records and destruction of all copies.


6. -- Bloomberg News Editor-in-Chief Matthew Winkler apologized for the news service's practice of allowing its journalists to access data about how clients used the company's financial data services.

Reports on Monday said that more than 10,000 of its clients' private messages containing sensitive pricing data had been leaked online.

Reporters have had access to the data, Winkler said, since the 1990s but it was revoked last month after Goldman Sachs complained.


7. -- The BlackBerry Live conference kicks off Tuesday in Orlando, Fla. BlackBerry ( BBRY) CEO Thorsten Heins's keynote address is expected to include an update on BlackBerry 10 sales volume and momentum, according to All Things D.


8. -- Sharp, the Japanese electronics maker, posted a record fiscal year loss of 545.4 billion yen ($5.4 billion), and named a new CEO in a management shake-up.

The company forecast an operating profit of 80 billion yen for the year ending March 2014, above analysts' estimates.


9. -- Take-Two Interactive Software ( TTWO), the publisher of "Grand Theft Auto, posted fiscal fourth-quarter net income on Monday of $22.5 million, or 24 cents a share, a swing from a year-earlier loss of $66.8 million, or 79 cents a share.

Adjusted earnings in the quarter were 38 cents a share, topping analysts' estimates of 23 cents a share.

Adjusted revenue in the quarter rose to $303.1 million from $148.1 million a year earlier..

Take-Two said it expects an adjusted loss of 55 cents to 70 cents share in the fiscal first quarter and adjusted revenue of $100 million to $125 million; analysts are calling for a loss of 19 cents a share on revenue of $205.1 million.


10. -- Morgan Stanley's ( MS) annual meeting is Tuesday in Purchase, N.Y., and Chairman and CEO James Gorman is expected to get grilled on the 19% share price decline since he joined the firm in January 2010.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

More from Stocks

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Is Tesla's Stock Set to Nearly Double to $500?

Is Tesla's Stock Set to Nearly Double to $500?

Tesla's $78,000 Model 3 Is a Bargain. Here's Why

Tesla's $78,000 Model 3 Is a Bargain. Here's Why