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U.S. stock futures are hovering near the breakeven mark ahead of the open, as investors await a number of reports on the U.S. economy. In stock news, here are some companies to watch today:

  • Deere & Company's (NYSE:DE) turn in the earnings confessional this morning was a mix of good and bad news. On the one hand, the agricultural equipment maker reported fiscal second-quarter earnings of $2.76 per share, beating per-share consensus estimates of $2.72. Quarterly revenue came in at $10.91 billion, also topping estimates of $9.85 billion. Nevertheless, company CEO Samuel Allen offered caution regarding the near future, citing global economic concerns, as well as cool weather that is not conducive to construction or farming. (CNBC)

  • Reports of licensing deals between Google Inc (NASDAQ:GOOG) and at least two major music labels have industry insiders speculating the search engine unit could be launching its own subscription music service. The move would put Google in direct competition with Spotify, Pandora Media Inc (NYSE:P), and other streaming music providers. (Mashable)

  • Suspicions of insider trading are running high over at Sony Corporation (ADR) (NYSE:SNE). The feelings were brought on by a dramatic uptick in options betting just before hedge fund manager Daniel Loeb called on the Japanese conglomerate to unload its entertainment wing. In particular, close to 10,000 June 19 calls were purchased when SNE shares sat at $18.89; after Loeb's remarks, the stock spiked to over $20, bringing the options safely in the money. (Yahoo! News)

  • On the heels of a deadly factory collapse in Bangladesh, Wal-Mart Stores, Inc. (NYSE:WMT) is calling on its 279 factories in the south Asian state to release information from safety inspections. The big-box retailer plans to post the names of manufacturers with failing grades to its website. This is the second time this year that Wal-Mart has been forced to tighten its international safety standards due to a tragedy. (CNNMoney)

  • Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has temporarily shuttered operations at its Indonesian unit after a training tunnel collapsed, killing four workers and trapping 25 others. The company announced on Tuesday that this accident at the world's second-largest copper mine will not have a notable impact on production. (Reuters)

  • Monsanto Company (NYSE:MON) is already preparing 20 field locations in the U.S. to test and market its "Xtend" soybean product, even though the company still needs to provide the U.S. Department of Agriculture with additional study data to prove that the genetically altered beans are safe. The company plans to receive regulatory approval by 2015 or shortly after, said Monsanto Chief Technology Officer Robert Fraley. (Reuters)

  • Safeway Inc. (NYSE:SWY) is raising its quarterly dividend to 20 cents per share from 17.5 cents. The 14% increase will be distributed on July 11 for shareholders of record on June 20. (Bloomberg Businessweek)

  • Finally, U.S. airlines earned $3.5 billion in baggage fees last year, and another $2.6 billion in ticket-change fees, according to preliminary data from the U.S. Department of Transportation's Bureau of Transportation Statistics. Of all the U.S. carriers, Delta Air Lines, Inc. (NYSE:DAL) came in at number one, with profits of $865.9 million and $778.4 million, respectively. (USA Today)

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