| What to watch today: Google cuts off Huawei, Lyft sued over IPO, and 'Game of Thrones' finale | | |  | MON, MAY 20, 2019 | | | | AS OF MON, MAY 20, 2019 • 07:23 ET | | Dow Jones Fut | | 25,764.00 | | Current: | 25,655.00 | | Change: | -125.00 | | Impl. Open: | -107.00 | | | S&P 500 Fut | | 2,859.53 | | Current: | 2,845.75 | | Change: | -16.25 | | Impl. Open: | -15.43 | | | NASDAQ 100 Fut | | 7,503.68 | | Current: | 7,418.75 | | Change: | -92.75 | | Impl. Open: | -96.93 | | | Russell 2000 Mini | | 1,535.76 | | Current: | 1,527.70 | | Change: | -9.90 | | Impl. Open: | -10.11 | | U.S. stock futures were pointing to a lower Monday open on Wall Street, as fallout from the U.S. crackdown on China's Huawei weighed on market sentiment. The Dow was coming off four consecutive weekly losses, while the S&P 500 and Nasdaq were off for the past two weeks. (CNBC)
More than halfway through the month, the Dow, S&P 500, and Nasdaq were all on track to post their first losing May since 2012. The Russell 2000 remained in correction territory, and the Dow Transportation Average was on the verge of re-entering a correction. (CNBC) | | | | Global dividends reached a first-quarter record of $263.3 billion, rising 7.8% despite concerns about the world economy, according to new research this morning. Janus Henderson expects $1.43 trillion in dividend payments this year. (CNBC) | | Specialists at Deutsche Bank (DB) saw in 2016 and 2017 potentially suspicious activity involving the company of Jared Kushner and Trump, the New York Times reported. Anti-money laundering specialists recommended transactions be reported to a federal financial-crimes watchdog. | | | | Sen. Kamala Harris, who is seeking the Democratic presidential nomination, is proposing that large employers pay women on an equal basis with their male counterparts or face government fines, seeking a sweeping shift in the way the nation addresses pay inequity. (WSJ) | | | Lyft (LYFT) was sued by a group of investors over its initial public offering. The suit said Lyft misled investors about its market position and labor matters, and that the company's "false and misleading" statements inflated the company's share price. The stock has lost 25% since going public. (Reuters)
Uber's (UBER) initial public offering was undermined by big investors, according to the Wall Street Journal. BlackRock (BLK), Tiger Global Management, and other pre-IPO investors passed on buying more shares in the offering. Some also reportedly tried to sell stock before or as part of the IPO. | | | | GrubHub (GRUB) was sued by a Philadelphia restaurateur, seeking $5 million in damages and class action status for the suit. The delivery service is accused of charging restaurants for phone calls even if no order was made. GrubHub said it disputes the claims and that the suit is without merit. (IBT) | | | | Ryanair, Europe's biggest budget airline and the region's largest customer for Boeing's (BA) 737 Max jets, warned profit would be dented this year by the plane's global grounding. (WSJ) | | | | Delta Air Lines (DAL) started a two-week pilot test a week ago that includes free Wi-Fi on around 55 domestic short-, medium- and long-haul flight segments a day. The move could shame other carries into offering service. (CNBC) | | Boeing (BA) won a wide-body jet order from Air New Zealand, according to people with direct knowledge of the matter who spoke to Reuters. That would end an 18-month competition for Air New Zealand's business between Boeing and Airbus. | | | | Apple, Dell and two other U.S. technology companies are set to give up their preferred shares in the Japanese chip maker for more than $4 billion under a refinancing plan, according to the Wall Street Journal. | | | | Lions Gate Entertainment (LGF.A) received an informal offer from CBS (CBS) to buy its Starz cable network, according to sources who spoke to CNBC. They say, however, that no deal is imminent. CBS had made an offer for Starz before it was bought by Lions Gate in 2016. | | | | Legg Mason (LM) is near a settlement with activist hedge fund Trian Management, according to Dow Jones. The money manager reportedly would gave Trian three or four seats on the board, and that a deal could be announced soon. | | | | Target (TGT) was upgraded to equal-weight from underweight at Morgan Stanley, which cited valuation. The retailer is scheduled to report its quarterly earnings on Wednesday morning. | | | | T-Mobile US (TMUS) is set to announce asset sales and other concessions to win approval for its deal to buy wireless competitor Sprint (S), according to a Bloomberg report. | | "John Wick: Chapter 3 Parabellum" put at end to the three-week box office reign of "Avengers: Endgame," with a debut of $57 million in ticket sales in North American theaters. "Avengers" collected $29.4 million during its fourth weekend of release. (Variety) | | The show that captivated fans for the past eight years has come to an end, but not everyone is thrilled. The series finale of "Game of Thrones" aired on HBO Sunday night and viewers took to social media to discuss the contentious finale. (CNBC) | |  | | |
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