Wall Street on edge this morning on word European creditors have rejected Greece's proposal aimed at extending its credit. Stocks (^GSPC) are falling on renewed fears a deal won't be worked out, possibly forcing the country out of the Euro Zone.
Yahoo Finance's Aaron Task says investors don't like this unsettled situation at all.
"It was not greeted warmly by the markets," he points out. "There's still that risk Greece is going to default, Greece is going to leave the Euro Zone. There would be a lot of uncertainty related to that."
Also on U.S. investors' minds today -- the final revision of first quarter GDP. The Commerce Department reporting the economy declined 0.2%, better than the previous reading of -0.7% but in line with estimates.
Task doesn't believe this data will do anything to change any big-picture economic thinking.
"The economy contracted in the first quarter, I think everybody knew that," he points out. "Some more recent economic data suggest that maybe it really was just the weather, the West Coast port strike, and the economy is going to get back on its feet in the second quarter."
Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Netflix (NFLX) shares are hitting a new all-time high. The company plans to split its stock 7-for-1. The move was highly anticipated after the video streaming firm increased the amount of shares it would issue last month. The stock will begin trading on a post-split basis on July 15th.
Delhaize (DEG) U.S. listed shares are lower in early trading. The Belgium-based supermarket chain, which operates Food Lion and Hannaford, is merging with Dutch rival Ahold, which owns Stop & Shop, Giant and Peapod. The combined company will be valued at about $29 billion, creating one of the largest supermarket chains in the U.S. and Europe
Sysco (SYY) shares are in the spotlight after a federal judge blocked its planned takeover of rival US Foods because it would reduce competition and lead to higher prices for hotels and restaurants. Sysco said it would review the ruling and weigh its options, which could mean an appeal or pulling the plug on the deal.
Boeing (BA) shares are in focus this morning. The aerospace giant announced Chief Executive Jim McNerney will step aside next week and hand over the reins to Chief Operating Officer Dennis Muilenburg. McNerney will continue to serve as Boeing’s chairman.
Box (BOX) shares are higher in early trading. The cloud-storage startup is teaming up with IBM (IBM). The two tech companies will work together integrate existing cloud-based products and services, as well as develop new ones.
Ford's car sharing plan
Ford (F) is getting into the car sharing business. The company is launching a pilot program that will allow customers who finance their vehicle through Ford Motor Credit to rent out their car.
Walmart (WMT) is reportedly going to start charging its suppliers fees for warehousing inventory and stocking items at new stores. Reuters reports that Walmart has previously limited these fees in return for suppliers giving them the lowest price.
Ikea is planning to raise its minimum wage in the U.S. by 10% next year. This increase follows the company's 17% wage boost earlier this year.