Updated from 6:42 a.m. EST
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, Nov. 17:
1. -- U.S. stock futures fell and European stocks were lower after data showed that Japan slipped back into a recession.
Preliminary data showed that Japan's economy, the second biggest in Asia, shrunk 1.6% in the July-September period, following a 7.1% contraction in the previous quarter. Housing and business investment declined following a sales tax hike in April to 8% from 5%.
2. -- The economic calendar in the U.S. on Monday includes the Empire State Manufacturing Index for November at 8:30 a.m. EST, and industrial production and capacity utilization for October at 9:15 a.m.
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3. -- U.S. stocks on Friday closed mixed, caught between better-than-expected retail sales and worries that Europe's economic woes will continue to be a drag on global growth..
The Dow Jones Industrial Average slipped 0.1% to finish at 17,634.74, while the S&P 500 rose 0.02% and the Nasdaq added 0.18%.
4. -- Halliburton (HAL) reached an agreement to buy rival oilfield services company Baker Hughes (BHI) in a deal valued at $34.6 billion, the companies announced Monday.
5. -- Actavis (ACT) is nearing a deal to acquire Allergan (AGN) that could help shield Botox maker Allergan from a hostile takeover, The Wall Street Journal reported, citing people familiar with the matter.
The boards of Actavis and Allergan are expected to meet in coming days to review a cash-and-stock takeover. An announcement is expected this week. The price under discussion couldn't be learned by the Journal, but the newspaper said it likely would be at a premium to Allergan's market capitalization of $59 billion.
Hostile suitor Valeant Pharmaceuticals (VRX) could improve its offer for Allergan, which Valeant already has done several times, the Journal noted.
Merck will get an upfront payment of $850 million from Pfizer, and could receive $2 billion more in milestone payments.
Pfizer said it expects its 2014 earnings to be reduced because of the deal. Pfizer said it expects earnings of $1.40 and $1.49 a share, down from previous expectations of $1.50 to $1.59
7. -- Urban Outfitters (URBN) , the parent company of its namesake brand and retail outlets Anthropologie and Free People, is forecast by analysts on Monday to report third-quarter earnings of 41 cents a share on sales of $815.2 million.
Citing an anonymous source familiar with the matter, the Journal reported that the talks, which were at a "very early stage," are unlikely to resume.
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