Aug. 5 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Aug. 5: 

1. -- U.S. stock futures were slipping ahead of data on the services sector and factory orders.

European stocks rose on Tuesday after positive news from some major companies distracted investors from external risks.

2. -- The economic calendar in the U.S. on Tuesday includes factory orders for June at 10 a.m. EDT, and the ISM Services index for July at 10 a.m.

3. -- U.S. stocks on Monday settled higher as the markets returned to a state of complacency defined by expectations of extended Federal Reserve support.

The Dow Jones Industrial Average rose 0.46% to close at 16,569.28. The S&P 500 rose 0.72% to 1,938.99. The Nasdaq tacked on 0.72% to 4,383.89. 

4. -- Goldman Sachs (GS) is upending the way it does business with hedge funds, jettisoning less-profitable clients and increasing some fees on others as it adapts to new banking rules, people familiar with the matter told The Wall Street Journal.

The bank has told hedge-fund clients that the regulations have forced it to set aside more capital, crimping profits at its prime-brokerage business, which executes and finances the funds' trades, the Journal reported.

Goldman also is pulling the firm's own cash out of its largest internal hedge fund, according to people familiar with the matter, to comply with other new rules limiting how banks invest their money, the Journal reported.

5. -- Media and entertainment giant Walt Disney (DIS) is expected by analysts on Tuesday to report fiscal third-quarter earnings of $1.17 a share on revenue of $12.16 billion.

It's expected that Disney will record year-over-year growth in its three largest divisions: studio entertainment (which includes DVDs and box office sales), media networks (featuring broadcast and cable properties such as ESPN and ABC), and parks and resorts (such as at flagship sites in Anaheim, Calif., and Orlando, Fla.).

6. -- Toyota (TM) reported on Tuesday a 5% increase in quarterly profit, topping expectations as vehicle sales rose in North America and Europe, offsetting a drop in Japan.

Japan's Toyota, the maker of the Prius hybrid, Camry sedan and Lexus, said profit for the April-June period was a record 587.77 billion yen ($5.7 billion). Sales rose 2% to 6.39 trillion yen ($62.3 billion).

Toyota, however, lowered its vehicle sales forecast for 2014, saying it now expects to sell 110,000 fewer vehicles worldwide than what was announced in January. Even then, it will still reach the 10 million vehicle industry milestone at 10.22 million vehicles, up 2% from 2013.

7. -- American International Group (AIG) reported on Monday that second-quarter net income rose 13%, topping analysts' expectations.

The insurance giant also said it agreed to pay $960 million to settle shareholder claims that the company misled investors.

The settlement stems from several class-action lawsuits claiming that AIG executives gave false and misleading information about the insurer's health, including its exposure to the risky home loans that triggered the mortgage crisis.

8. -- Coach (COH), a seller of premium handbags, is forecast to report fiscal fourth-quarter profit of 53 cents a share on sales of $1.09 billion.

9. -- Daily deals site Groupon (GRPN) is expected by analysts on Tuesday to report second-quarter earnings of 1 cent a share on revenue of $761.8 million.

10. -- BlackBerry (BBRY) concluded a protracted and painful restructuring and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters.

"We have completed the restructuring notification process, and the work force reduction that began three years ago is now behind us," said the memo from BlackBerry's CEO John Chen that was sent out on Friday.

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