5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures were slipping Wednesday and European shares were lower as worries over Spain's banking problems unnerved investors.
Asian stocks finished lower on Wednesday. Japan's Nikkei 225 index fell 0.3% to close at 8,633.19. A posting by China's official Xinhua News Agency said the government had denied reports of plans for a round of new stimulus measures.
Stocks in the U.S. ended higher Tuesday. The Dow Jones Industrial Average gained 125 points, or 1%, to close at 12,580.
The economic calendar in the U.S. Wednesday includes pending home sales for April at 10 a.m. EDT.
Research In Motion (RIMM) late Tuesday forecast an operating loss for its fiscal first quarter. The BlackBerry maker said its "financial performance will continue to be challenging for the next few quarters." RIM also said it has hired bankers to help with its review of its strategic options and that it planned to make "significant" reductions in its work force. The stock closed Tuesday at $11.23, up 2.1%, but fell as much as 15% in after-hours trading.
Facebook (FB), the social networking giant, lost nearly 10% of its market capitalization on Tuesday with the stock becoming a favorite of short sellers. Facebook closed Tuesday at $28.84. It's IPO price of less than two weeks ago was $38. Separately, a Reuters report said Facebook has received notice that U.S. antitrust regulators will give its proposed acquisition of Instagram a lengthy investigation.
Pep Boys (PBY), the automotive parts and service chain, said its sale to private-equity firm Gores Group has been canceled. Pep Boys will receive termination fees of $50 million.
Mitt Romney said his victory in the Texas primary on Tuesday gives him enough delegates to win the Republican presidential nomination. Romney needed 1,144 delegates to clinch the nomination. According to The Associated Press, the win Tuesday puts Romney over that number.
-- Written by Joseph Woelfel
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