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Pre-Market Primer: Apple Inc. Sues Samsung Again; BlackBerry Ltd Considers Going Private

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Chinese industrial production was surprisingly good.

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Stocks are heading downward today as tech giants hit the courts again and Chinese data came in a bit more upbeat.

With no major economic data to look forward to, US stock index futures are slightly lower this morning. Dow (INDEXDJX:.DJI) futures were off 0.27% to 15,410 while futures contracts on the S&P 500 (INDEXSP:.INX) slipped 0.30% to 1,688.70. Nasdaq (INDEXNASDAQ:.IXIC) futures sank 0.14% to 3,122.50.

On the economic front, we have wholesale inventories on tap for today. Inventories are projected to have increased 0.4% in June.

Asian stocks closed higher and major European indices were mixed this morning.

China released some sunnier economic data points on Friday. Consumer inflation is still relatively tame. Annually, prices were up 2.7% in July, just a hair below economists' estimates. Monthly, inflation increased 0.1%. The price of goods at the factory gate fell 2.3% from a year earlier, or 0.3% from June. Industrial production was better than forecast, rising 9.7% from a year earlier.

Japan's national debt reached the dubious milestone of 1 quadrillion yen in June. That's a 1 with 15 zeros following it. In dollar terms, Japan's public borrowing totals $10.46 trillion. Yesterday, the central bank urged the government to pass the long-delayed increase in the sales tax.

German exports fell short of expectations, growing just 0.6% in June. Demand for imported goods fell by 0.8%. Britain's trade deficit unexpectedly narrowed to 8 billion pounds in June as exports rose.

Mere days after the White House intervened to overturn a ban on Apple (NASDAQ:AAPL) products, the Cupertino-based company is seeking yet another ban on Samsung (KRX:005930) imports. Apple will meet Samsung today in court at the International Trade Commission for allegedly violating Apple's intellectual property.

BlackBerry Ltd (NASDAQ:BBRY) CEO Thorsten Heins said that the board is considering going private to simplify its turnaround. BlackBerry hasn't started looking for buyers, but the board feels that exiting the public markets can give them some "breathing room."

Metals companies are lining up to sue Goldman Sachs (NYSE:GS) and the London Metals Exchange for anti-competitive behavior in hoarding aluminum. Recently, the New York Times (NYSE:NYT) published a lengthy investigation into Goldman's use of aluminum warehouses in the Detroit area. Trucks bring the metal back and forth among the warehouses, causing delivery delays and higher prices.

Priceline.com (NASDAQ:PCLN) shares rose 6.55% this morning after the company reported better-than expected earnings. Sales rose 27% to $1.86 billion in the second quarter.

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.

Twitter: @vincent_trivett
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
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