NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, March 22:
1. -- U.S. stock futures were slightly higher Friday as Cyprus struggled to avoid financial collapse after Russia, which has billions of dollars of deposits in Cypriot banks, brushed off the island-country's pleas for financial aid.
European stocks were trading lower, while Asian stocks finished in the red on Friday. Japan's benchmark Nikkei 225 plummeted 2.4% to close at 12,338.53
2. -- The economic calendar in the U.S. Friday is bare.
3. -- U.S. stocks on Thursday stumbled on lackluster economic data from the eurozone and softer-than-expected results from the latest U.S. economic indicators. The S&P 500 declined 0.83% to 1,545.80. The Nasdaq slumped 0.97% to 3,222.60 while the Dow Jones Industrial Average fell 0.62% to 14,421.49.
4. -- Nike (NKE), the shoe and apparel maker, said Thursday that third-quarter earnings jumped, topping the expectations of Wall Street analysts. Earnings for the quarter were $662 million, or 73 cents a share, up from year-earlier profit of $569 million, or 61 cents a share. Analysts were looking for earnings of 67 cents a share. Revenue rose 9% to $6.19 billion; analysts forecast sales of $6.2 billion. Nike said revenue in North America, which accounts for 40% of its sales, rose 18% to $2.55 billion.
5. -- Tiffany (TIF), the upscale jewelry retailer, posted fiscal fourth-quarter earnings of $179.6 million, or $1.40 a share, up slightly from earnings of $178.4 million, or $1.39 a share, a year earlier. Analysts were expecting earnings of $1.36 a share. Sales rose to $1.24 billion from $1.19 billion a year earlier; analysts forecast sales of $1.25 billion. Tiffany said Friday it expects that net sales in the current fiscal year will increase 6% to 8%.
6. -- Friday marks the end of a 45-day period that Dell's (DELL) board set to allow for offers that might top a deal reached in February to sell the PC maker to CEO Michael Dell and a group of investors for $24.4 billion. Blackstone Group (BX) is emerging as the most likely candidate to trump the current bid of $13.65 a share, The Associated Press reported Friday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV