Tuesday, September 2, 2014

Sept. 2 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Sept. 2: 1. -- U.S. stock futures rose Tuesday ahead of data on U.S. manufacturing. European stocksagained, assisted by hoped-for government or central bank attempts to arrest underlying economic decline. Asian stocks ended the session mostly higher. Read More: Why J.C. Penney's New Brooklyn Store Is Only Part of the Revival 2. -- The economic calendar in the U.S. on Tuesday includes the ISM Index for August at 10 a.m. EDT and construction spending for July at 10 a.m. 3. -- U.S. stocks onaFriday (markets were closed Monday for the Labor Day holiday in the U.S.)aclosed slightly higher, capping four straight weekly gains and booking their best August since 2000. The close also marks the biggest monthly gain since February. The Dow Jones Industrial Average rose 0.11% to close at 17,098.45. The S&P 500 gained 0.33% to 2,003.37, a new closing high. The Nasdaq aticked up 0.5% to 4,580.27.a 4. -- Apple aplans to turn its next iPhone into a mobile walletathrough a partnership with major payment networks, banks and retailers, according a person familiar with the situation, Bloomberg reported. The agreement includes Visa , MasterCard and American Express aand will be unveiled on Sept. 9 along with the next iPhone, said the person, Bloomberg reported. The new iPhone will make mobile payment easier by including a near-field communication chip for the first time. 5. -- Alibaba, the Chinese e-commerce giant, plans to launch its U.S. initial public offering early in the week of Sept. 8, a person familiar with the deal told The Wall Street Journal. A launch that week, kicking off a deal that could raise more than $20 billion and be the world's largest in years, would mean Alibaba shares could begin trading as soon as Sept. 18 or 19 in New York, the person told the Journal. Alibaba's dialogue with the Securities and Exchange Commission is ongoing, but that process is expected to wrap up next week, the person familiar with the deal said. The SEC must approve IPO listing documents before a company can set a price and launch an offering. 6. --aDollar General raised its offer for Family Dollar on Tuesday to $80 a share, or $9.1 billion, from $78.50 a share. In a press release Tuesday, Dollar Generalaalso said it would increase the number of stores that it would be willing to agree to divest to 1,500 toasteer clear of antitrust issues. The No. 1 deep discount retailer in the U.S. alsoaagreed to pay a $500 million reverse break-up fee to Family Dollar relating to antitrust matters.a 7. -- France's Iliadamay improve its $15 billion offer for T-Mobile US but has set specific limits on how much money it would raise to fund any deal, Reuters reported. Iliad Chief Financial OfficeraThomas Reynaud told Reuters that talks were continuing with private-equity firms and companies interested in joining the group's pursuit of T-Mobile US, which is majority-owned by Deutsche Telekom. Deutsche Telekom rejected Iliad's bid of $33 a share for 56.6% of T-Mobile US as too low in early August. Read More: Hormel Foods Products Are Yummy but Not Its Expensive Stock a 8. -- A court issued an injunction barring Uber, the ridesharing service, from operating in Germany. Frankfurt state court spokesman Arne Hasse said Tuesday the decision that Uber can't offer its services without a specific permit under German transport laws applies nationwide. The injunction applies pending a full hearing of a suit brought against Uber by Taxi Deutschland, a German cab association that also offers its own taxi-ordering app. The suit is being heard in Frankfurt because it is one of the several German cities in which Uber operates. Berlin authorities last month barred Uber from operating in the capital because of safety concerns. 9. --aEric Cantor, the former U.S. House majority leader, will join investment bank Moelis as vice chairman and managing director. He also will serve as a board member at the firm. 10. -- Software developer Compuware is nearing a deal to sell itself, the Journal reported, citing people familiar with the matter. Compuwareais in advanced talks with a private-equity buyer, one of the people said. A deal could be announced as soon as Tuesday, the personatold the newspaper. Read More: Why Apollo Investment, Royal Bank of Canada Should Be in Your Portfolio -- Written by Joseph Woelfel To contact the writer of this article, click here:Joseph Woelfel To submit a news tip, send an email to:tips@thestreet.com. Follow @josephwoe58


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