Updated from 7:14 a.m.
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, May 18:
1. -- U.S. stock futures were drooping as investors considered rising oil prices and news of a big pharmaceutical deal by Endo (ENDP) after last week's volatile market moves.
European stocks were mixed Monday, torn between hopes that the U.S. Federal Reserve will delay raising interest rates and continuing pessimism over a solution to the Greek question.
Asian stocks were mixed, as Japan's Nikkei 225 rose but Hong Kong's Hang Seng and China's Shanghai Composite sank.
2. -- The economic calendar in the U.S. on Monday includes the National Association of Home Builders housing market index at 10 a.m.
3. -- U.S. stocks on Friday closed up after a rollercoaster week with a bond rout and a rebound rally.
4. -- Endo International (ENDP) has made a deal to buy Par Pharmaceuticals for $8.05 billion, the companies announced in a press release. Endo is seeking to expand its generics business with the purchase, which doesn't require further shareholder approval to go through.
Rajiv De Silva, president and CEO of Endo, said in a statement, "Our generics business, Qualitest, continues to be an extremely attractive and effective growth driver for Endo. This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo, creating a powerful corporate platform for future growth and strategic M&A."
In premarket trading, Endo stock was jumping by 1.12%.
5. -- A global selloff in bonds has been hitting the market hard, although with lower prices the bonds will pay higher yields over time. The drop in bond prices seemed to slow at the end of last week. The total bond market's value has declined by hundreds of billions of dollars in the recent selloff.
6. -- Big-box retailer Target (TGT) is turning more toward fresh foods and away from its prior focus on packaged shelf-stable goods. Target notified some of its suppliers -- among them Campbell Soup (CPB), General Mills (GIS) and Kellogg (K) -- that it won't be pushing their products as much as it had been. Processed foods will be featured less, and fresh and healthy-sounding foods will take precedence.
Target reports earnings Wednesday.
In premarket trading, Target stock was falling by 0.5%.
7. -- Chinese e-commerce site Alibaba (BABA) is being sued for selling counterfeit items by Kering (PPRUY), the luxury goods company that owns Gucci and Yves Saint Laurent. Alibaba runs several Web sites in China, including Taobao and Tmall, where it seems to have a hard time weeding out fakes and the people who sell them.
Alibaba has said that in the last two years, it has spent 1 billion yuan ($161 million) to increase consumer protections and to fight intellectual property crimes, like counterfeiting.
In premarket trading, Alibaba stock was dropping by 0.97%.