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Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a lower open for Wall Street on Thursday following quarterly results from iPhone maker Apple (AAPL) that disappointed investors.

European stocks were lower while Asian shares ended Thursday's session mostly with gains, getting a boost from a rise in HSBC Bank's preliminary survey on China's monthly manufacturing. Japan's Nikkei 225 index rose 1.3% to close at 10,620.87.


The economic calendar in the U.S. Thursday includes weekly jobless claims at 8:30 a.m. EST, and December's leading economic indicators at 10 a.m.


U.S. stocks on Wednesday advanced, helped by upbeat earnings from high-profile companies and a debt-ceiling deal from Washington lawmakers.

The Dow Jones Industrial Average rose 67 points, or 0.5%, to 13,779. The blue-chip index climbed for the ninth session out of 10, a streak last seen in February 2011.


Apple shares dropped more than 10% in after-hours trading Wednesday after the tech giant's revenue trailed forecasts, earnings per share fell and profit margins shrank.

Apple posted revenue of $54.5 billion in its fiscal first quarter, up from $46.33 billion a year earlier but below analysts' forecasts of $54.73 billion. It earned $13.81 a share, down from $13.87 a year earlier; analysts were looking for $13.47.

Apple sold 47.8 million iPhones during the quarter, up from 37 million a year earlier.


Netflix (NFLX) gained 2 million video-streaming subscribers in the U.S. during the fourth quarter, and posted a profit of $8 million during a period when analysts were expecting a loss.


Software giant Microsoft (MSFT) is expected by analysts Thursday to report fiscal second-quarter earnings of 75 cents a share on revenue of $21.6 billion.


3M (MMM) is expected by analysts Thursday to post fourth-quarter earnings of $1.41 a share on revenue of $7.18 billion.


Shipping giant UPS (UPS) is expected by analysts Thursday to post quarterly earnings of $1.38 a share on revenue of $14.44 billion.


Other companies expected to report earnings Thursday include AT&T (T), Bristol-Myers Squibb (BMY), Lockheed Martin (LMT) and Starbucks (SBUX).


-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.


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