This is what you need to know before the bell:
1. Japanese airbag maker Takata
(TYO) - Get Report files for chapter 11 bankruptcy. The company faced billions of dollars in liabilities over its defective airbags.
2. Pandora Media
(P) Co-Founder & CEO Tim Westergren plans to step down from the company. The decision comes after Sirius XM
(SIRI) - Get Report said it would invest $480 million in Pandora.
3. Activist investor Daniel Loeb's Third Point reveals it has purchased a 1% stake in Nestle SA
(NSRGY) - Get Report . The activist investor is pressing Nestle to shed some of its assets.
4. Italy is set to wind up two failed banks in a deal that will cost up to $19 billion. The good assets held by the lenders will be put in the hands of retail bank Intesa. Sanpaolo.
5. British lender RBS
(RBS) - Get Report is planning to cut 443 jobs in the U.K. The jobs will be moved to India as part of a restructuring of the bank.
This article was written by a staff member of TheStreet.