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Oct. 23 Premarket Briefing: 10 Things You Should Know

Stocks in this article: AAPL BA LCC NFLX CAT SWY

NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Oct. 23:

1.-- U.S. stock futures were pointing down on Wednesday as stocks overseas posted losses on a tepid U.S. jobs report and reports of tighter money market conditions in China.

Stocks in London, Frankfurt and Paris were falling. Shares in China and Hong Kong declined. Japan's Nikkei 225 index fell 2% to close at 14,426.05 as the yen gained against the U.S. dollar.

2.-- The economic calendar in the U.S. Wednesday includes import and export prices for September at 8:30 a.m. EDT and the FHFA Housing Price Index for August at 9 a.m.

3.--U.S. stocks closed higher on Tuesday after the weak jobs report fueled speculation the Federal Reserve will maintain the monetary stimulus measures that have helped boost equities to their biggest gains in 16 years.

The  S&P 500 Index gained 0.57% to 1,754.67, extending its 2013 advance to 23%, the biggest gain to start a year since 1997. The Dow Jones Industrial Average rose 0.49% to 15,467.66 while the  Nasdaq gained 0.24% to finish at 3,929.57.

4.-- Apple  (AAPL) unveiled the iPad Air on Tuesday, and a second-generation of the iPad mini in a huge product update.

The iPad Air, Apple's fifth-generation iPad, which starts at $499 for WiFi and $629 for LTE models, weighs just 1 pound and is 20% thinner and 28% lighter than the fourth-gen iPad. It also has a narrower bezel, allowing content to fill up more of the tablet.

Apple is keeping the iPad 2 in its lineup, which starts at $399.

Apple also unveiled on Tuesday the second version of the iPad mini, now with Retina Display.

Both devices will launch in November, with the iPad Air going on sale Nov. 1, and the iPad mini later in the month.

The stock fell 0.3% on Tuesday to $519.87.

5.-- Boeing  (BA) is expected by analysts to post third-quarter earnings on Wednesday of $1.55 a share on revenue of $21.68 billion. 

6.-- Carl Icahn pared his stake in Netflix  (NFLX) by over 50%, citing a 457% investment gain since his investment conglomerate, Icahn Enterprises (IEP), became the company's largest shareholder about a year ago.

Icahn disclosed that his holding company cut its stake in Netflix to 4.5% from a position of more than 9% that the activist investor made in November 2012, according to filings with the  Securities and Exchange Commission. The move comes just a day after Netflix reported better-than-expected third quarter earnings. 

7.-- US Airways  (LCC) is forecast by Wall Street to report third-quarter earnings of $1.12 a share on revenue of $3.84 billion.

-- A handful of buyout firms, including Cerberus Capital Management, are exploring a deal for all or part of Safeway (SWY), the supermarket chain, Reuters reported, citing people familiar with the matter.

Safeway, the second-largest U.S. grocer with a market value of more than $8 billion, isn't running an auction currently but is aware of the buyout interest and reviewing options with its adviser, Goldman Sachs, the people told Reuters.

9.-- Wall Street expects heavy-equipment maker Caterpillar (CAT) to post earnings of $1.66 a share in the third quarter on revenue of $14.35 billion. 

10.-- The banks underwriting Twitter's upcoming IPO officially have agreed to lend it as much as $1 billion over the next five years, according to a new filing with regulators.

The $1 billion revolving credit facility, which was completed this month and will mature in October 2018, was detailed in an updated SEC filing late on Tuesday, The Wall Street Journal reported. 

-- Written by Joseph Woelfel

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

To submit a news tip, send an email

Copyright 2013 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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