5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures indicated Wall Street would open higher Friday as European markets posted a slight recovery.
European stocks were rising after three straight days of losses. It appeared Eurozone finance ministers would agree to increase the region's bailout funds to around €800 billion, according to The Associated Press.
Stocks in Japan and Hong Kong declined.Friday's economic calendar in the U.S. includes personal income and spending for February at 8:30 a.m. EDT; the Chicago purchasing managers index for March at 9:45 a.m.; and the final University of Michigan consumer sentiment reading for March at 9:55 a.m.
Research In Motion (RIMM), the troubled BlackBerry maker, missed fourth-quarter analysts' expectations, said it would no longer provide quarterly forecasts, and announced former co-CEO Jim Balsillie is resigning from the board. RIM posted fiscal fourth-quarter non-GAAP earnings of 80 cents a share on revenue of $4.2 billion. Analysts were expecting profit of 81 cents a share on revenue of $4.5 billion. CEO Thorsten Heins on Thursday stressed RIM needs "substantial change" and said that "no stone will be left unturned." A sale of the company isn't out of the question but he said it's not the primary focus right now.
Google (GOOG) plans to sell co-branded tablet computers directly to consumers through an online store like rivals Apple and Amazon.com, The Wall Street Journal reported, citing people familiar with the matter. The move is an effort by Google to turn around sluggish sales of tablets powered by its Android software, the newspaper said.
A labor advocacy group released the findings of an audit of working conditions at Foxconn, a major Apple (AAPL) supplier in China. Apple CEO Tim Cook visited a Foxconn facility in China on Thursday, and Foxconn reportedly has promised to make improvements, but it's not clear how this may or may not impact the company's relationship with Apple, which is part of the Fair Labor Association that conducted the audit.
Ray Dalio, head of Bridgewater, the world's largest hedge fund, tops a list published by Absolute Return magazine of the richest 25 hedge fund managers.
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