Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, June 4:

1. -- U.S. stock futures were little changed Tuesday as investors awaited a U.S. trade report and continued to closely watch for any clues on whether the Federal Reserve is more likely to curtail or maintain its current economic stimulus program.


2. -- The economic calendar in the U.S. Tuesday includes the trade balance for April at 8:30 a.m. EDT.


3. -- U.S. stocks on Monday rose on prospects that worse-than-expected manufacturing data will prompt the Federal Reserve to continue its stimulus program to bolster the economic recovery.

The S&P 500 advanced 0.6% to close at 1,640.39 on Monday.


4. -- Zynga ( ZNGA), the social games maker, is laying off 18% of its staff, or 520 employees, and closing its New York, Los Angeles and Dallas offices.

One of Zynga's designers tweeted that Zynga LA is being shut down with about 55 people being fired. Zynga is cutting the jobs to save as much as $80 million in costs.

"The work force reduction will occur across all functions and is expected to be substantially complete by August 2013," the company noted in a press release on Monda. Zynga said it will take a pretax charge of $24 million to $26 million in the second quarter, and $2 million to $5 million in the third quarter.

The San Francisco-based Zynga has had a rough go of it in recent months, struggling to earn a profit on the shift to mobile from desktop.


5. -- Justice Department attorney Lawrence Buterman opened a civil trial on Monday by portraying Apple ( AAPL) as a corporate bully that entered the market for electronic books in 2010, forcing an end to price competition and costing consumers hundreds of millions of dollars.

Apple lawyer Orin Snyder sharply disputed the government's claims, saying the iPod and iPhone maker had been waiting for its chance to show it had enhanced competition and improved the e-book industry.

"Apple is going to trial because it did nothing wrong," he said. "Apple did not conspire with any publisher individually, collectively or otherwise to raise industry prices."


6. -- General Motors ( GM) is being added to the S&P 500 and S&P 100, while AIG ( AIG) is being added to the S&P 100.

Automaker GM is replacing H. J. Heinz ( HNZ) in the S&P 100 and 500 indices on Thursday. Heinz is being acquired by 3G Capital and Berkshire Hathaway ( BRK.A).

AIG, the giant insurer, is replacing Baker Hughes ( BHI) on the S&P 100. S&P Baker Hughes will remain in the S&P 500.


7. -- Sprint ( S) urged Clearwire ( CLWR) to reject Dish Network's ( DISH) rival bid for the wireless service provider, saying that a deal under Dish's terms would be illegal and violate Clearwire's agreement with its shareholders, Reuters reported.


8. -- FedEx ( FDX) raised its quarterly dividend to 15 cents a share from 14 cents, and said it is speeding up the retirement of some aircraft, recording charges with the move.


9. -- Dollar General ( DG) is forecast by analysts to report on Tuesday first-quarter profit of 71 cents a share on revenue of $4.24 billion.


10. -- Dunkin' Donuts' ( DNKN) new doughnut breakfast sandwich, which comes with fried eggs and bacon between a split glazed doughnut, will become a part of the chain's permanent menu on Friday.


-- 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

Dow Logs Eighth Straight Drop as Stocks Slump

Dow Logs Eighth Straight Drop as Stocks Slump

Novo Nordisk Stock Rises 4% Over 2 Sessions

Novo Nordisk Stock Rises 4% Over 2 Sessions

Stock Market Just Took Another Beating -- Here's What You Need to Know

Stock Market Just Took Another Beating -- Here's What You Need to Know

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

Daimler's Profit Warning Should Terrify Traders Before Earnings Season Begins

Daimler's Profit Warning Should Terrify Traders Before Earnings Season Begins