This Day On The Street
Continue to site
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

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures were posting slight gains Friday as investors balanced fears over the fiscal cliff in the U.S. with signs of a recovery in China.

European stocks were trading flat to lower while Asian shares ended Friday's trading session with losses. Japan's Nikkei 225 index fell 0.9% to close at 8,757.60 and the Shanghai Composite Index finished sown 0.1%.

Data released Friday revealed that factory output rose in China in October, investment growth strengthened and inflation eased.


The economic calendar in the U.S. Friday includes export and import prices for October at 8:30 a.m. EST, the initial University of Michigan consumer sentiment reading for November at 9:55 a.m., and wholesale inventories for September at 10 a.m.


U.S. stocks on Thursday closed sharply lower as fresh worries about the eurozone and the fiscal cliff overshadowed upbeat domestic labor market and trade data.

The Dow Jones Industrial Average finished down more than 121 points, or 0.94%, at 12,811. The index, which is now up 4.96% in 2012, suffered a steep loss on Wednesday, falling more than 2% to close below 13,000 for the first time since early August, following the re-election of Barack Obama as U.S. president.


Priceline.com (PCLN - Get Report) pulled off Thursday a surprise deal to acquire Kayak Software (KYAK) for $1.8 billion in cash and stock, valuing the shares at $40 each.

Kayak shares jumped almost 27% in after-hours trading Thursday to $39.30.


Walt Disney (DIS - Get Report), the media and entertainment giant, posted an in-line quarterly profit on Thursday with net income rising 14% but came up short of analysts' estimates on the top line.


Groupon (GRPN - Get Report), the online deals company, reported a surprise loss for its third quarter with revenue of $568.6 million missing Wall Street's consensus view of $590.1 million.


J.C. Penney (JCP - Get Report) is expected to post third-quarter results before Friday's opening bell and analysts expect the retailer to post a loss of 7 cents a share on revenue of $3.27 billion. In the same period a year earlier, J.C. Penney earned 11 cents a share on revenue of $3.99 billion.


Other companies reporting quarterly results on Friday include CompuCredit (CCRT), E.W. Scripps (SSP), Energizer Holdings (ENR), Federal Signal (FSS), Foster Wheeler (FWLT), Ivanhoe Energy (IVAN), MGIC Investment (MGIC), NutriSystem (NTRI), and Warner Chilcott (WCRX).


Carl Icahn said Thursday he has considered a hostile takeover bid for Netflix (NFLX) but was uncertain he had a chance of acquiring the company in which he holds a 10% stake, said a Reuters report.


Energizer (ENR), the battery maker, said Thursday it would cut more than 10% of its work force, or about 1,500 employees.


-- 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.
Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
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
SYM TRADE IT LAST %CHG
DIS $121.12 0.00%
GRPN $4.65 0.00%
JCP $8.17 0.00%
PCLN $1,240.48 0.00%
AAPL $118.44 0.00%

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs