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Ahead of jobs report, Wall Street under pressure

IN THE NEWS TODAY

U.S. stock futures were under mild pressure, ahead of the 8:30 a.m. ET release of the government's April jobs report. Wall Street looks to be on track for its second consecutive losing week. The Nasdaq was hovering just under the 10 percent correction threshold. (CNBC)

Economists were forecasting 202,000 jobs were added last month, according to Thomson Reuters. The unemployment rate was seen to be unchanged at 5 percent, while average hourly wages were expected to be up 0.3 percent. (CNBC)

Chinese stocks were sharply lower today on market rumors local regulators may want to delay mainland listings of U.S.-listed China companies. The Shanghai composite fell nearly 3 percent. Meanwhile, stocks were mostly lower in Europe this morning. (CNBC)

U.S. oil prices were lower this morning, despite a massive wildfire threatening Canada's huge oil sands operations that could weigh on North American supply. Traders get a new look at U.S. output, when Baker Hughes releases its weekly rig count at 1 p.m. ET. (Reuters)

House Speaker Paul Ryan said he's "not ready" to endorse Donald Trump, the presumptive GOP presidential nominee. In turn, Trump said he's "not ready" to support the legislative agenda of Ryan, the highest-ranking elected Republican in the nation. (NBC News)

Herbalife (HLF) shares were gaining about 13 percent in the premarket, after the nutritional supplement firm said advanced stage FTC talks could result in a possible $200 million fine. Investor Bill Ackman has accused Herbalife of running a pyramid scheme. (USA Today)

GoPro (GPRO) posted better than expected revenue, but sales plunged about 50 percent. The battered wearable-camera maker reported a narrower than expected loss. GoPro delayed its drone from June to the holidays. The stock was down about 4 percent in premarket trading. (CNBC)

Square (SQ) was losing about 17 percent in the premarket, after reporting a wider than expected loss. The mobile payments company — run by Jack Dorsey, who's also Twitter (TWTR) CEO — beat on revenue. Investors appear to be concentrating on a surge in operating expenses. (CNBC)

Facebook (FB) lost the first round of a court case involving the company's use of biometric data. A judge rejected Facebook's request to dismiss the suit, which alleges the social network "unlawfully" collected and stored information derived from their faces in photographs. (Reuters)

Apple (AAPL) CEO Tim Cook plans to visit Beijing later this month to meet high-level government officials, at a time when the company is facing some setbacks there, according to sources. Apple's online book and film services were shut in China last month. (Reuters)

Kerrisdale Capital plans to target Dish Network (DISH) with its new single-stock short fund, a source told CNBC. The investment firm has reportedly raised $100 million in a new "co-investment fund" to bet against a single stock. (CNBC)

Sanofi (SYN) said it could raise its proposed $9.3 billion offer for Medivation (MDVN), but only if the U.S. cancer drugmaker engaged in talks. Otherwise, the French firm may appeal to shareholders to oust the board. U.S drugmaker Pfizer (PFE) has also expressed interest in Medivation. (Reuters)

General Motors (GM) and Lyft plan to begin testing self-driving Chevrolet Bolt electric taxis on public roads within a year. The plan comes a few months after GM invested $500 million in Lyft. (WSJ)

SpaceX, run by billionaire entrepreneur Elon Musk, successfully landed the first stage of its Falcon 9 rocket on a ship at sea during a mission to launch a Japanese satellite into orbit early this morning. (NBC News)

The New York City Council has voted to require certain retailers to collect a 5-cent fee on each carryout bag. Mayor Bill de Blasio has expressed support for the measure, modeled on similar laws in California and Washington, D.C. (NY Times)

A suit challenging media mogul Sumner Redstone's mental competence — filed by a former companion who was removed from his house and his will — goes to trial today in Los Angeles County Superior Court, three weeks before his 93rd birthday. (NY Times)

The late Penn State University football coach Joe Paterno knew about sexual abuse allegations against former assistant coach Jerry Sandusky as early as 1976, according to an assertion in court documents. (NBC News)

BY THE NUMBERS

Cigna (CI) is among the companies issuing quarterly earnings numbers this morning, along with Madison Square Garden (MSG) and Revlon (REV). Warren Buffett's Berkshire Hathaway (BRKB) is out with its quarterly numbers after the closing bell this afternoon.

STOCKS TO WATCH

Activision Blizzard (ATVI) earned an adjusted 23 cents per share, nearly doubling estimates. Revenue was also well above. The video game-maker gave upbeat forward guidance, on strong sales of its "Call of Duty: Black Ops III" game, among other factors.

Yelp (YELP) surprised investors by posting an adjusted quarterly profit of 8 cents per share. Analysts had been forecasting a 16-cent loss. The online review site operator also scored a top line beat. Yelp also raised its full-year guidance as its unique visitor metrics improved.

Wynn Resorts (WYNN) reported adjusted quarterly profit of $1.07 per share, well above estimates, though revenue merely matched forecasts. The casino operator also saw the smallest quarterly decline in Macau revenue since the third quarter of 2014.

News Corporation (NWSA) beat estimates by a penny with adjusted quarterly profit of 4 cents per share, with revenue essentially in line. The Wall Street Journal publisher did see its results impacted by a strong dollar and a drop in print ad sales.

WATERCOOLER

Bored at work? You could always try suing your employer. That's what Frédéric Desnard, a 44-year-old Parisian worker, has done — filing a lawsuit and demanding more than $400,000 from his former employer. But there's more to the story. (CNBC)