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) -- Here are 10 things you should know for Thursday, May 30:

1. -- U.S. stock futures are pointing to a higher open Thursday ahead of reports on U.S. economic growth and the labor and housing markets.


2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, the second estimate of first-quarter GDP at 8:30 a.m., and pending home sales at 10 a.m.


3. -- U.S. stocks on Wednesday pulled back on concern the Federal Reserve's decision to scale back its stimulus program may take place sooner than expected, and as the Organization for Economic Cooperation and Development lowered its outlook for global growth.


4. -- Dish Network (DISH - Get Report) raised its buyout bid for Clearwire (CLWR) to $4.40 a share, valuing the wireless network operator at $6.9 billion, and topping a bid from Sprint (S).

Dish's bid is 29% higher than Sprint's bid of $3.40 a share. Sprint owns a little more than 50% of Clearwire. Sprint raised its bid for Clearwire last week.

Clearwire's board had recommended that shareholders vote in favor of Sprint's bid before Dish's latest offer. Clearwire shareholders are meeting Friday to vote on the deal.


5. -- Berkshire Hathaway's (BRK.A) energy subsidiary MidAmerican Energy is buying Las Vegas utility NV Energy (NVE - Get Report) for $23.75 a share in cash for an enterprise value of about $10 billion.


6. -- Moody's downgraded Alcoa's (AA) credit rating into junk status on Wednesday, citing lower aluminum prices.


7. -- Costco (COST), the warehouse retailer, said Thursday it earned $459 million, or $1.04 a share, in its fiscal third quarter, up from year-earlier earnings of $386 million, or 88 cents a share.

Analysts were expecting Costco to post earnings of $1.03 a share.


8. -- GE Capital Chief Michael A. Neal is expected to step down as early as this summer, and parent company General Electric (GE) is evaluating potential successors, The Wall Street Journal reported, citing people familiar with the matter.

1 of 2

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
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!
SYM TRADE IT LAST %CHG
CLWR $0.00 0.00%
NVE $0.00 0.00%
DISH $69.26 0.00%
GOOG $524.05 0.00%
S $5.11 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs