September 22 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, Sept. 22:

1. -- U.S. stock futures were lower on Monday and global stocks fell as traders grow concerned over a survey expected after Monday's close that could show renewed manufacturing weakness in China, the world's second-largest economy.

2. -- The economic calendar in the U.S. on Monday includes existing homes sales for August at 10 a.m. EDT.

3. -- U.S. stocks on Friday finished mixed Friday with the Dow Jones Industrial Average  ending at a record and booking a weekly gain. Alibaba  (BABA)  shined in its IPO debut.

The Dow closed 0.08% higher at 17,279.74. The S&P 500 fluctuated between gains and losses before closing 0.05% lower at 2,010.40 while the Nasdaq fell 0.3% to 4,579.79.

4. -- Shares of Alibaba made a smashing debut on Friday in their first trading day on the New York Stock Exchange.

The shares opened at $92.70 and hit nearly $100 within hours. By the end of the day, the stock rose $25.89, or 38%, to close at $93.89.

The New York Times reported that Alibaba's IPO underwriters increased the size of the deal to $25 billion, a record for an IPO. 

The company's underwriters decided, as was expected, to exercise a so-called green shoe, an option that allowed them to increase the deal size from its original $21.8 billion, two people with knowledge of the matter told the Times. The lead underwriters -- Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup -- lifted the total deal size to 368.1 million shares, up from 320.1 million shares previously. The additional shares were issued at the same price as the main offering: $68 a share, the Times noted.

5.
-- Siemens (SI) reached an agreement to buy Dresser-Rand (DRC) , the oilfield equipment maker, for $7.6 billion.

Under the deal, Siemens will pay $83 a common share for Dresser-Rand; the stock closed at $79.91 on Friday. Dresser Rand's market capitalization is $6.12 billion. The deal includes assumption of debt.

Dresser-Rand's board unanimously recommended the offer to shareholders, and Siemens expects to close the deal by next summer, according to a statement from the company.

Dresser-Rand, based in Houston and Paris, has annual revenue of about $3 billion.

6. -- EMC (EMC) , the data storage giant, recently held merger discussions with HP and deal talks with Dell, according to a The Wall Street Journal on Sunday. In both cases, however, it remains to be seen if a transaction will eventually emerge.

In the case of HP, the two companies have flirted with each other across the table for most of the year but talks recently ended and appears questionable as to whether the parties will return, the Journal reported. As for Dell, an acquisition of a portion of EMC's assets, such as its storage business, may be more in line with what the privately held company can carry off, the Journal said.

EMC reportedly has hired banking advisers J.P. Morgan Chase to give it guidance on the options it can explore, the Journal reported.

7. -- Microsoft (MSFT)  delayed the launch of its Xbox One game console in China, which had been set for release on Tuesday.

Microsoft said the device would released by the end of 2014. The software giant didn't provide a reason for the delay, but it's the latest in a series of setbacks for Microsoft in China, where it is under investigation for suspected antitrust violations related to the Windows operating system and Microsoft Office, Reuters noted.

8. -- AutoZone (AZO) is forecast on Monday to report fiscal fourth-quarter earnings of $11.25 a share on revenue of $3.07 billion.

9. -- Tesco (TSCDY) , the U.K.'s largest retailer, suspended four executives and launched an accounting investigation after admitting that its half-year profit was overstated by 250 million pounds ($407 million).

10. -- A protest over the role big business plays in climate change is planned for Wall Street on Monday.

The march is just one in a series of protests planned by activists ahead of Tuesday, when world leaders convene for the U.N. Climate Summit.  

-- Written by Joseph Woelfel

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