1) IPOs continue, with cloud computing still hot. Covisint (COVS) priced 6.4 million shares on the NASDAQ at $10 each, the middle of the $9-$11 price range. They allow clients to set up cloud computing services.
Applied Optoelectronics (AAOI), a fiber-optic product manufacturer, prices 3.6 million shares at $10 apiece, below the $13 to $15 price talk.
Chinese chipmaker Montage Technology (MONT) prices 7.1 million shares at $10 each, below the upwardly revised range of $12 to $14. The initial price talk was $10 to $11.
Tonight, RingCentral is expected price--they provide software as a service (SaaS) through the cloud. I love SaaS--it sounds so, well, modern--but it just means you're paying for software on a monthly or quarterly basis rather than a one-time licensing fee.
2) Nikkei at a two-month high. I saw Prime Minister Shinzo Abe deliver a speech yesterday at the NYSE, where he touted his reforms and noted that growth had improved since he came to office. He said that the first thing he would do when he returned to Japan was to begin plans to lower the corporate taxrate. Maybe, but he didn't mention that he will also be seeking to raise the consumption tax.
3) U.S.-listed European banks fall after Barclays announced it will stop providing wealth management services in roughly 130 countries by 2016 and cut jobs in the department in attempt to lower costs and boost earnings. BCS will remain in 70 markets, which cover about 86 percent of the global wealth market.
4) Car-rental company Hertz Global slides double digits after lowering its full-year forecast due to worse-than-expected volumes at its airport rental business. Huh? Everyone is long HTZ. This was supposed to be a beat and raise every quarter.
HTZ sees 2013 EPS between $1.68 and $1.78, below its previous $1.82 to $1.92 view and weaker than analysts' $1.89 estimate. The company anticipates 2013 revenue between $10.8 billion and 10.9 billion, versus its earlier outlook of $10.85 billion to $10.95 billion. The Street expects 2013 revenue of $10.91 billion.
5) Drug company Eli Lilly tumbles after its widely-talked-about breast cancer drug ramucirumab failed to improve patients' survival. The same drug is also being tested in late-stage trials for treating colon, lung, and liver cancers.
6) The Muscular Dystrophy Association is hosting its annual "Wings Over Wall Street" event tonight to raise money for Amyotrophic Lateral Sclerosis (ALS) research. If you're interested in donating, here's the site.
—By CNBC's Bob Pisani