5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures were suggesting Wall Street would open lower Wednesday despite global shares getting a lift from improved home prices in the U.S.
European shares gained Wednesday, the day before a European Union summit begins at which leaders are expected once again to try to tackle the region's debt crisis.
Asian stocks finished higher on Wednesday; Japan's Nikkei 225 rose 0.8% to close at 8,730.49.
The Dow Jones Industrial Average rose 32 points, or 0.26%, to close at 12,535. The S&P 500 rose more than 6 points, or 0.48%, to settle at 1320.
The economic calendar in the U.S. on Wednesday features the Mortgage Bankers Association's weekly application index at 7 a.m. EDT; durable goods orders for May at 8:30 a.m.; pending home sales for May at 10 a.m.; and weekly crude inventories at 10:30 a.m. ET.
Best Buy(BBY) is reportedly a buyout candidate.
According to The Wall Street Journal, founder Richard Schulze is working with bankers to possibly put together a deal to take the company private.
The board of News Corp.(NWSA) will decide Wednesday whether to proceed with a split of the media giant into two companies, according to The Wall Street Journal.
The newspaper, which is owned by News Corp., first reported Monday the company was mulling separating its smaller publishing business from its entertainment businesses.
If the board approves the split, News Corp. is expected to announce the restructuring Thursday morning, a person familiar with the situation told the Journal. News Corp. on Monday confirmed it was contemplating a split.
Samsung Electronics was ordered by a U.S. judge Tuesday to halt sales of the Galaxy 10.1 tablet computer.
U.S. District Judge Lucy Koh previously had denied Apple's bid for an injunction on the tablet but said Tuesday that Samsung couldn't sell the tablet while the court considers Apple's claim that Samsung illegally copied the design of Apple's iPad.
"Although Samsung has a right to compete, it does not have a right to compete unfairly, by flooding the market with infringing products," Koh wrote on Tuesday. Apple would be "irreparably harmed" if sales of the Galaxy 10.1 continued, the judge said in her order.
"We will take necessary legal steps and do not expect the ruling to have a significant impact on our business operations, as we possess a diverse range of Galaxy Tab products," Samsung said in a statement.
-- Written by Joseph Woelfel
Joseph Woelfel
06/27/12 - 05:50 AM EDT
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