This Day On The Street
Continue to site
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

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures were pointing to a higher open for Wall Street on Wednesday following the re-election of Barack Obama as U.S. president.

Obama defeated Republican challenger Mitt Romney after multiple battleground states tipped in the incumbent's favor.

Obama won the key swing states of Ohio, Virginia, Colorado, New Hampshire, Nevada, Wisconsin and Iowa. Votes were still being counted in Florida.

The electoral vote count was 303 to 206 in favor of Obama.

European stocks were rising as investors in the region turned their attention to a key austerity vote in Greece. Asian shares ended Wednesday's trading session mixed. Japan's Nikkei 225 index closed marginally lower at 8,972.89.

The economic calendar in the U.S. Wednesday includes weekly crude inventories data at 10:30 a.m. EST, and consumer credit for September at 3 p.m.

U.S. stocks on Tuesday soared, finishing higher prior to the news that Obama had secured a second term as U.S. president.

The Dow Jones Industrial Average soared 133 points, or 1.02%, to close at 13,246. The blue-chip index rose for a second straight session and is now up 8.42% so far in 2012.

Whole Foods Market (WFM - Get Report) is expected to report fiscal fourth-quarter earnings after Wednesday's closing bell, and analysts are calling for a profit of 60 cents a share in the September-ended period on revenue of $2.91 billion.

Macy's (M - Get Report) is expected by analysts Wednesday to post third-quarter earnings of 29 cents a share on revenue of $6.07 billion.

Time Warner (TWX - Get Report), the media giant, is seen earnings 82 cents a share on revenue of $6.9 billion in the third quarter, according to analysts.

Early earnings reports are also due Wednesday from Becton, Dickinson (BDX), Blyth (BTH), CenterPoint Energy (CNP), Devon Energy (DVN), Dynegy (DYN), Hospira (HSP), Leap Wireless (LEAP), Orbitz Worldwide (OWW), Sodastream International (SODA), Sonus Networks (SONS), Tenet Healthcare (THC) and WellPoint (WLP).

Wednesday's late roster includes Activision Blizzard (ATVI), CafePress (PRSS), CBS Corp. (CBS), Chiquita Brands International (CQB), Luby's (LUB), MAKO Surgical (MAKO), Monster Worldwide (MNST), Prudential Financial (PRU), Qualcomm (QCOM), and Rosetta Stone (RST).

News Corp. (NWSA - Get Report) on Tuesday posted fiscal first-quarter earnings of $2.23 billion, or 94 cents a share, on revenue of $8.14 billion, up from a year-earlier equivalent profit of $738 million, or 28 cents a share, on revenue of $7.96 billion.

Excluding items, News Corp. reported adjusted earnings of 43 cents a share, beating Wall Street's consensus view of 37 cents.

JPMorgan Chase (JPM - Get Report)is close to a settlement with the Securities and Exchange Commission that would end one probe into how the company's Bear Stearns unit packaged and sold home loans to investors, according to people familiar with the case, The Wall Street Journal reported.

McGraw-Hill (MHP) has entered into exclusive discussions to sell its education unit to Apollo Global Management (APO), and the two sides could reach an agreement within a few weeks, people familiar with the matter told the Journal.

-- Written by Joseph Woelfel

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

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JPM $63.79 0.00%
M $39.91 0.00%
NWSA $12.61 0.00%
TWX $75.32 0.00%
WFM $29.05 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs