This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Things You Should Know Before the Stock Market Opens

Stocks in this article: RIMM BBY

NEW YORK ( TheStreet) -- U.S. stock futures were falling Thursday, following a second-straight day of declines on Wall Street after a weaker-than-expected report on durable-goods orders.

European stocks were slipping Thursday, while Asian stocks tumbled. Japan's Nikkei 225 index fell 0.7% to 10,114.79 and Hong Kong's Hang Seng dropped 1.3%.

The U.S. economic calendar in the U.S. Thursday includes weekly initial and continuing jobless claims at 8:30 a.m. EDT, and the third reading on fourth-quarter gross domestic product.

Economists are calling for initial claims to come in at 350,000, slightly higher than last week's 348,000 total, and for the GDP estimate to remain unchanged at 3%.


Facebook reportedly is set to go public in May.

The social networking giant is targeting May for its initial public offering, according to The Wall Street Journal, which cited a source close to the matter.

Facebook, which has 845 million users, could raise as much as $10 billion in the offering.

It was reported on Wednesday by Bloomberg that Facebook will soon halt trading of its shares on secondary markets such as SharesPost and SecondMarket.


Best Buy (BBY), the electronics retailer, is expected by analysts Thursday to post fiscal fourth-quarter profit of $2.16 a share on revenue of $17.2 billion.

Same-store sales are seen dipping 0.6% in the February-ended period.

UBS kept a neutral rating on Best Buy on Wednesday but lifted its price target to $27 from $25, saying it expects the company to announce more steps to reduce costs.


Research In Motion (RIMM), the troubled BlackBerry maker, is expected by analysts to report quarterly earnings of 82 cents a share, which is below the company's own expectation for earnings of 85 cents to 90 cents a share.

RIM is working toward the release of its next-generation handset, the BlackBerry 10, in the second half of this year.

Shares of RIM have fallen 4% so far in 2012.


In IPO action on Wednesday, Rexnord Holdings, the industrial parts maker, sold 23.7 million shares for $18 a share, which was at the low end of the expected range.

Millennial Media, the mobile advertising company, sold 10.2 million shares at $13 a share, above the expected range.

Cafepress, the print-on-demand Web site, sold 4.5 million shares in its IPO at $19 a share, higher than the expected range.


-- 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs