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Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a flat to lower open on Wall Street Wednesday following a selloff in the previous trading session on worries over global growth prospects.

European shares were tacking on losses while Asian stocks finished in the red. Japan's Nikkei 225 stock average closed down 2% at 8,906.70


The economic calendar in the U.S. on Wednesday includes new-home sales for August at 10 a.m. EDT.


U.S. stocks on Tuesday suffered steep losses after Federal Reserve Bank of Philadelphia President Charles Plosser said he believes it's unlikely the central bank's third round of quantitative easing will meaningfully boost the economy.

The Dow Jones Industrial Average fell more than 101 points, or 0.75%, to close at 13,458.


Yahoo! (YHOO), the Internet giant, named Ken Goldman as chief financial officer.

Goldman replaces Tim Morse, who had been with Yahoo! for more than three years. Morse is expected to leave the company this fall. Goldman most recently served as financial chief of Fortinet (FTNT).


IBM (IBM) plans to announce Wednesday it will ramp up its efforts to sell so-called cloud computing services to mid-size businesses, The Wall Street Journal reported.


Cisco (CSCO) CEO John Chambers identified senior managers that are being considered as possible successors when he retires, a move that could come in two to four years, Bloomberg reported.

There are as many as 10 candidates, Chambers told Bloomberg in an interview. They include Gary Moore, chief operating officer; Robert Lloyd, executive vice president of worldwide operations; Chuck Robbins, senior vice president of the Americas; and Edzard Overbeek, senior vice president of global services.


Jabil Circuit (JBL), the electronics manufacturing services company, missed Wall Street's expectations Tuesday in its latest quarterly results. It also issued a weak forecast for its first quarter.


Bookseller Barnes & Noble (BKS) rolled out its new Nook HD line on Wednesday.


-- 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.

Stock quotes in this article: YHOO, IBM, CSCO, JBL, BKS 
Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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