Corrected Cyber Monday sales data.
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Dec. 2:
1. -- U.S. stock futures were rising slightly on Tuesday and European shares traded mixed as oil prices turned lower, a day after posting a rebound.
Stocks in Asia ended Tuesday's session mostly higher.
2. -- The economic calendar in the U.S. on Tuesday includes construction spending for October at 10 a.m. EST.
3. -- U.S. stocks tumbled on Monday, with tech giants and retail names seeing some of the biggest sales on Wall Street.
The S&P 500 dropped 0.68%, though it remains just 10 points shy of record highs achieved last week, and the Dow Jones Industrial Average fell 0.27%. The Nasdaq fell 1.3%.
4. -- Avanir Pharmaceuticals (AVNR) agreed to be acquired by Japanese drugmaker Otsuka Pharmaceutical for about $3.5 billion.
Otsuka will pay $17 a share in cash for Avanir. The deal represents a premium of 13.3% to Avanir's closing price on Monday of $15.
The transaction is expected to close in the first quarter of 2015.
After the deal closes, Avanir said it would continue to operate under its current structure as an independent subsidiary of Otsuka America and will partner with Otsuka in the U.S. to "further enhance its development and commercialization efforts" in central nervous system-related disorders.
The companies valued the deal at $4 billion. They expect it to close in the first half of 2015. The companies said they anticipate cutting annual costs by $135 million within three years.
T.J. Rodgers, Cypress president and CEO, will be CEO of the combined company, which is expected to have $2 billion in annual revenue.
6. -- Automakers such as U.S. giants Ford (F) and GM (GM) are scheduled to report sales for November on Tuesday.
Cars.com and TrueCar forecast light-vehicle sales in November of 1.3 million, up 3% to 4% from the same month a year earlier and the highest November unit sales count since 2001.
Both firms forecast a seasonally adjusted annualized sales rate of 17 million, the best November rate since 2004, while Kelley Blue Book sees a slightly lower SAAR of 16.8 million.
7. -- Opening statements begin Tuesday in a billion-dollar class-action lawsuit over Apple's (AAPL) iPod.
The trial in a California federal court will hear testimony from Apple's late founder Steve Jobs, who gave a videotaped deposition in April 2011, just months before he died.
Attorneys for consumers and electronics retailers claim Apple used software in its iTunes store that forced would-be song buyers to use iPods instead of cheaper music players made by rivals. The software is no longer used, but the plaintiffs argue that it inflated the prices of millions of iPods sold between 2006 and 2009 -- to the tune of $350 million, according to The Associated Press. Under federal antitrust law, Apple could be ordered to pay three times that amount if the jury agrees with the estimate and finds the damages resulted from anti-competitive behavior.
"The fact that this case is still going 10 years later is a sign that technology often outpaces law," Mark Lemley, a Stanford law professor, told the AP.
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