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Toyota lowered its global vehicle sales plan for this year to 9.5 million vehicles -- which is down from 9.85 million -- as the listless North American market slows the automaker's momentum.

Emirates Airlines have taken delivery of its first of 58 A380 super jumbo jets from AirBus and said it has signed up to buy another 60 aircraft from the European plane manufacturer.

Private equity firm Kohlberg Kravis Roberts, which gained fame by taking RJ Reynolds private two decades ago, will go public on the New York Stock Exchange through a takeover of its investment fund KKR Private Equity Investors LP.

Sirius Satellite Radio Inc. (SIRI) said it will sell about $375 million of its common stock and up to $65 million more with a private offering by XM Satellite Radio Inc. (XMSR). Sirius also announced it expects a 70 percent narrower loss for its second quarter, compared with the same period a year ago, on an increase in revenue.

Scheduled Economic Reports (Tuesday)

Case-Schiller Home Prices (May), Consumer Confidence (June)

In Earnings News

Verizon Communications (VZ) said its quarterly profit rose on strong wireless sales. The company reported its second-quarter earnings rose to $1.88 billion, or 66 cents a share. Excluding items such as merger costs, earnings rose to 67 cents, exceeding the average analyst forecast for 64 cents a share.

Tyson Foods Inc. (TSN) saw its profit drop 90 percent for its third quarter. The company earned $9 million, or 3 cents per share. Analysts expected Tyson to earn 12 cents a share.

Kraft Foods (KFT) reported its profit rose to $732 million, or 48 cents per share. It says earnings per share excluding items rose to 58 cents per share from 51 cents. Analysts expected 50 cents a share.

Wrigley (WWY) says its second-quarter profit jumped 14 percent as higher prices and converting foreign currencies to the dollar led to a big increase in sales. Wm. Wrigley Jr. Co. says its net income rose to $193.8 million, or 70 cents per share. Analysts expected profit of 68 cents per share.

Lorillard Inc. (LO) said it earned a smaller than expected second-quarter profit, as expenses for its spin-off from Loews Corp. and a higher tax rate decreased the cigarette maker's bottom line. Profit declined to $217 million, or $1.25 per share. Analysts expected $1.35 per share.

Scheduled Earnings Reports (Tuesday)

Sony, Northrop Grumman, Colgate Palmolive, Teva Pharmaceuticals, OfficeMax, DreamWorks Animation, Martha Stewart Living Omnimedia, Fresh Del Monte Produce, BE Aerospace, Electronic Arts, AirTran Holdings, Coach, Pilgrim’s Pride, US Steel

Stocks in the News

Hewlett-Packard (HPQ) said the European Commission has approved the company's $13.9 billion acquisition of Electronic Data Systems (EDS).

Cameron International Corp (CAM) agreed to supply sub-sea production systems to a development program offshore Angola.

Motorola (MOT) won a decision in the U.S. Court of Appeals for the Federal Circuit affirming that the company did not infringe a patent owned by the University of Texas System related to text-messaging software used in mobile phones.

Amgen (AMGN) said a three-year international Phase III study its a treatment for osteoporosis, significantly reduced the incidence of new vertebral fractures compared with a placebo.

Unilever (UN) agreed to sell its North American laundry business to private-equity firm Vestar Capital Partners.

EnergySouth Inc (ENSI) traded higher after Sempra Energy (SRE) agreed to pay $61.50 a share, or $510 million, for the natural gas service and pipeline firm.

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