Updated from 6:40 a.m. EDT:
Here are 10 things you should know for Monday, May 19:
1. -- U.S. stock futures were pointing to a lower start for Wall Street on Monday amid major deals news and after Asian stocks declined.
European stocks fell. China's Shanghai Composite Index fell 1.1% month-on-month gains in housing prices in China slowed to 0.1% in April from March's 0.3%. Tokyo's Nikkei 225 slid 0.6%.
2. -- The economic calendar in the U.S. on Monday is bare.
3. -- U.S. stocks on Friday closed in positive territory, shaking off poor consumer sentiment data as small caps and Internet stocks picked up in the final hour of trading.
The Dow Jones Industrial Average gained 0.27% to close at 16,491.31, while the S&P 500 increased 0.37% to 1,877.86. The Nasdaq rose 0.52% to finished at 4,090.59.
While DirecTV doesn't help the telecom company compete in the online video space immediately, cost savings from the merger and the extra cash flow will improve AT&T's ability to compete with the cable giant that would be formed by Comcast's (CMCSA) proposed $45 billion takeover of Time Warner Cable (TWC).
With 5.7 million U-verse TV customers and 20.3 million DirecTV customers in the U.S., the combined AT&T-DirecTV would serve 26 million. That would make it the second-largest pay TV operator behind a combined Comcast-Time Warner Cable, which would serve 30 million under a $45 billion merger proposed in February.
AT&T is already the largest mobile service provider in the U.S., serving 116 million customers compared to Verizon's 103 million.