Updated from 6:58 a.m.
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, April 27:
1. -- U.S. stock futures were trending upward Monday as Apple (AAPL) prepares to report earnings and as a big deal for semiconductor-makers collapses.
2. -- The economic calendar in the U.S. on Monday includes the Markit PMI services index flash at 9:45 a.m. and the Dallas Fed general business activity index at 10:30 a.m.
4. -- Apple (AAPL), the world's largest public company, reports its second-quarter earnings after the market close. Wall Street expects earnings of $2.16 per share on revenue of $56.1 billion, according to Thomson Reuters.
TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust, says he's watching Apple earnings for Apple Watch orders, updates on Apple Pay as well as Apple TV and iPhone sales, which he thinks will post "remarkable" results. The company officially launched the Apple Watch last week.
"Here's the key thing about Apple. It's still a very low-multiple stock, and that's why I stay drawn to it," Cramer said.
In premarket trading, Apple stock was up 0.62%.
5. -- A merger between chipmakers Applied Materials (AMAT) and Tokyo Electron (TOELY) has been scrapped. The semiconductor makers, based in the U.S. and Japan, respectively, had their $10 billion merger quashed by the U.S. Department of Justice, which said that combining the companies would reduce competition. The companies are the world's largest and third-largest makers of chipbuilding technology. The deal had been in the works since September 2013.
In premarket trading, Applied Materials stock was dropping 6.8%.
6. -- The number of oil rigs operating in the U.S. has continued to drop, according to oil services company Baker Hughes. The number of operating rigs is now at the lowest level since 2010. In October 2014, there were 1,609 oil rigs running. The decrease in oil prices -- down by almost 50% since June 2014 -- has pushed drillers to reduce the operating rig count to 703.
Brent crude oil prices are up to a $65 a barrel, a high for the last four-and-a-half months. U.S. West Texas Intermediate crude oil was at $57, close to a six-week high.
7. -- Burrito-roller Chipotle Mexican Grill (CMG) will no longer sell any food with genetically modified ingredients, starting Monday. The company has more than 1,800 restaurants. Chipotle has long advocated for shorter ingredient lists and ethically sourced meats.
In premarket trading, Chipotle stock was rising 0.2%.
8. -- Former Chesapeake Energy (CHK) CEO Aubrey McClendon is being investigated by the U.S. Department of Justice for possible antitrust violations over the leasing of oil and gas properties. The investigation was disclosed in a regulatory filing by American Energy Capital Partners -- Energy Recovery Program, a business in which McClendon is now involved.
Chesapeake Energy has previously said it is cooperating with the DOJ on an antitrust probe. Chesapeake settled a separate antitrust case with the Michigan attorney general on Friday. Those charges said Chesapeake colluded with Encana (ECA) to reduce oil and gas land-lease prices in 2010. Encana paid a related $5 million civil settlement in 2014.
Chesapeake Energy stock was falling by 0.28% in premarket trading.
9. -- French technology services company Capgemini (CGEMY) struck a $4 billion deal to acquire Igate (IGTE), widely expanding its business in the U.S. The joint company will have annual revenue of more than $14 billion.
In premarket trading, Igate stock was level.