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
TheStreet Open House

Morning Briefing: 10 Things You Should Know

Stocks in this article: AAPLZNGACFBSPLKZUMZ

NEW YORK ( TheStreet) -- U.S. stock futures were pointing to a flat open on Wall Street Friday as U.S. lawmakers made limited progress in negotiations to resolve the so-called fiscal cliff.

European shares were rising marginally, while Asian stocks ended Friday's trading session mostly higher. Japan's Nikkei 225 index rose 0.5% following the release of an 880.3 billion yen ($10.7 billion) stimulus package by the Japanese government.


The economic calendar in the U.S. Friday includes personal income, spending and the core PCE personal consumption expenditure inflation data for October at 8:30 a.m. EST, and the Chicago purchasing managers index for November at 9:45 a.m.


U.S. stocks on Thursday finished modestly higher despite the ongoing back-and-forth on Capitol Hill about the pace of U.S. budget talks.

The Dow Jones Industrial Average rose nearly 37 points, or 0.28%, to close at 13,022. The Nasdaq gained 20 points, or 0.68%, to settle at 3012 for its first finish above 3000 since Nov. 6.


Zynga (ZNGA) and Facebook (FB) modified the terms of their partnership.

Zynga disclosed in a regulatory filing Thursday that it will no longer have to display Facebook ads or use Facebook payments on its own Zynga.com properties. Facebook will be permitted to develop its own games under the new partnership.


Apple's (AAPL)iPhone 5 received approval for a "network access" license in China. The final clearance paves the way for a December debut of the iPhone 5 in China, according to Reuters.


Citigroup's (C) trading and investment-banking division plans to cut 150 more jobs and shrink bonuses by as much as 10%, Bloomberg reported, citing two people with direct knowledge of the decisions.


Splunk (SPLK) posted third-quarter revenue of $52.05 million, up 67% from a year earlier. On a non-GAAP basis, Splunk posted a loss of 1 cent a share. Analysts were looking for a loss of 2 cents a share on $46.67 million in revenue.

Splunk also gave fourth-quarter revenue guidance on Thursday that was above Wall Street estimates.


Zumiez (ZUMZ) gave a disappointing outlook on Thursday and quarterly revenue came in below analysts' forecasts.


Earnings are expected Friday from Genesco (GCO), Johnson Outdoors (JOUT) and United Natural Foods (UNFI).


-- 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.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs