NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, May 24:
Sentiment remained subdued as the market continued to ponder the possibility of a pullback in Federal Reserve stimulus and remained jittery about the state of China's economic strength.
2. -- The economic calendar in the U.S. Friday includes durable-goods orders for April at 8:30 a.m. EDT.
3. -- U.S. stocks on Thursday closed lower after a choppy trading session, as investors worried the Federal Reserve would scale back stimulus and China could be headed for a slowdown. The S&P 500 closed down 0.29% to 1,650.51.
4. -- Procter & Gamble (PG) is bringing back A.G. Lafley as CEO of the consumer products giant in an effort to boost slow sales growth. Lafley will replace CEO Bob McDonald, effective immediately. McDonald, who will retire June 30 after a transition period, has been CEO since 2009. Lafley, who served as CEO of the company from 2000 to 2009, also was named chairman and president.
5. -- Lois Lerner, the Internal Revenue Service supervisor whose agents targeted conservative groups, was placed on administrative leave from her position as the director for the agency's tax-exempt organizations division as of Thursday, according to lawmakers, The Wall Street Journal reported.
6. -- The Federal Trade Commission is in the early stages of an antitrust probe into whether search giant Google (GOOG) breaks antitrust law in how it handles some advertising sales, Reuters reported, citing a source.
7. -- Dish Network (DISH) took a step closer to arranging $9 billion in committed financing for its $25.5 billion bid for Sprint (S), the Journal reported, citing people familiar with the matter. Dish received signed commitment letters from five banks , including Barclays Bank and Jefferies & Co., the people told the newspaper. Including about $2.6 billion it raised in bonds last week, Dish ow has raised close to $12 billion for the deal.
8. -- Pandora Media (P), the online radio service, on Thursday posted first-quarter revenue that topped expectations. The company's revenue outlook also topped Wall Street estimates as its mobile advertising sales accelerated and the company added more subscribers during the quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV