U.S. stock futures were lower early Monday as investors concerns over the banking sector grew. Federal regulator seized two more banks, 1st National Bank of Nevada and First Heritage Bank, which were scheduled to reopen on Monday as Mutual of Omaha Bank branches. The Senate also passed a major housing bill over the weekend, and this could actually give a boost to mortgage lenders like Fannie (NYSE: FNM). Meanwhile, oil prices rebounded as European markets declined. As of 8:00 a.m., it seems Wall Street would start weak.

Reporting earnings today are Kraft Foods (NYSE: KFT) - Kraft reported 58 cents earnings per share excluding items, beating estimates of 50 cents; Verizon Communications (NYSE: VZ) - Verizon reported earnings of 67 cents per share, excluding items, beating estimates by 2 cents; and after the close of trading, Amgen (NASDAQ: AMGN).

Amgen (NASDAQ: AMGN) stock is jumping over 17% in premarket trading after announcing late Friday its experimental osteoporosis drug, denosumab, significantly reduced the risk of bone fracture in post-menopausal women in a large trial. Rodman & Renshaw and Jefferies & Co both upgraded Amgen to Market Outperform and to Buy respectively.

Unilever NV (NYSE: UL) will sell its North American laundry detergents business to private equity investor Vestar Capital Partners for $1.45 billion (euro924 million). Unilever said the sale consistent with its strategy of divesting non-core businesses and concentrating on a few core ones.

Motorola Inc. (NYSE: MOT) will reorganize its home and networks mobility unit -- its second largest -- by splitting it into three separate businesses. This could facilitate future sales should Motorola tries to divest any business units.

Private equity firm Kohlberg Kravis Roberts & Co. will go public on the New York Stock Exchange through a takeover of its Amsterdam-listed investment fund KKR Private Equity Investors LP. The original plan for a $1.25 billion initial public offering didn't pan out due to credit market turmoil.

Sirius Satellite Radio Inc. (NASDAQ: SIRI) shares are gaining over 1.5% in premarket after announcing preliminary results. It said it expects its adjusted loss during the second quarter to narrow to $24 million from $79 million as revenue rose 25% to $283 million. Sirius said it's planning to sell $375 million of its own stock and up to $65 million more from time to time. Only a few days ago the FCC has finally approved the merger of Sirius with XM Satellite Radio Holdings Inc. (NASDAQ: XMSR), in which Sirius would take over XM.

Ryanair Holdings (NASDAQ: RYAAY) dropped as much as 26% after it reported a surprising 85% drop in first-quarter profit on Monday, citing the high cost of fuel and recessionary fears. It also warned it could post its first-ever annual loss.

According to The Wall Street Journal, the Securities and Exchange Commission is probing four rumors regarding Lehman Brothers (NYSE: LEH).

Could Cuil be the search engine that threatens Google Inc. (NASDAQ: GOOG)? Cuil Inc. is a startup founded by engineers from Google and other tech giants. Cuil is said to cover three times as many Web pages as Google and aims to deliver better results than other major search engines. The site's results page resembles an online magazine.

The USA Today says Apple Inc. (NASDAQ: AAPL) is "experiencing serious Microsoft-type growing pains with its launch of the new iPhone that went on sale two weeks ago." The problems it lists include not enough supply to satisfy demand and a longer procedure to activate the phone.