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U.S. stock futures are on the upswing this morning, following suit with stocks in Europe on news of a Portuguese bank bailout. In company news, today's stocks to watch include Windows parent Microsoft Corporation (NASDAQ:MSFT), search giant Google Inc (NASDAQ:GOOGL), entertainment provider The Walt Disney Company (NYSE:DIS), and fast-food chain McDonald's Corporation (NYSE:MCD).
- Late Friday, Microsoft Corporation (NASDAQ:MSFT) announced it has filed suit against Samsung Electronics Co. for alleged violations of a 2011 cross-licensing agreement. According to MSFT's complaint, Samsung refused to pay interest on a late royalty payment, and the Korean firm is citing Microsoft's acquisition of wireless assets from Nokia Corporation (ADR) (NYSE:NOK) as the reason for its reported contract breaches. (Bloomberg)
- Google Inc (NASDAQ:GOOGL) helped authorities in Houston, Texas, identify and arrest a man for sending explicit images of a child via Gmail. GOOGL declined to comment on the specific case, but has previously disclosed its collaborative efforts with the Internet Watch Foundation and the National Center for Missing and Exploited Children to detect images of child abuse. (BBC News)
- The Walt Disney Company (NYSE:DIS) has a summer blockbuster on its hands with Guardians of the Galaxy, as the Marvel Studios superhero film raked in $94 million in North America during its debut weekend. In the process, Guardians blew past analysts' expectations for a domestic opening in the $65-$70 million range, and unseated the 2007 film The Bourne Ultimatum as the top August debut on record. (Hollywood Reporter)
- In the wake of a supplier scandal that left many of its Chinese outposts without key menu items, McDonald's Corporation (NYSE:MCD) will once again begin selling beef and chicken items in Beijing, Guangzhou, and other major mainland cities. The revelations of improper practices at OSI Group LLC -- which supplied ingredients to Papa John's International, Inc. (NASDAQ:PZZA) and Yum! Brands, Inc. (NYSE:YUM), in addition to MCD -- has led to the arrest of six executives at its Shanghai Husi Food Co. unit. (Bloomberg Businessweek)
- On the earnings front, Michael Kors Holdings Ltd (NYSE:KORS) and Cardinal Health Inc (NYSE:CAH) will be in focus today after reporting their latest quarterly results. (MarketWatch)