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, Aug. 8:

1. -- U.S. stock futures were suggesting a flat start to Wall Street on Thursday despite improved trade figures from China.

European stocks also were mostly unchanged, while Asian shares finished Thursday's session with gains. Japan's Nikkei 225 index rose 1.4% and China's Shanghai Composite Index gained 0.3% after China's imports rose 5.9% in July and exports increased 10.9%, topping expectations.


2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT.


3. -- U.S. stocks on Wednesday fell, continuing a modest pullback amid speculation the Federal Reserve may finally begin winding down its $85 billion-a-month bond-purchasing program as early as next month.

The S&P 500 fell 0.4% to 1,690.91 while the Dow Jones Industrial Average slipped 0.3% to 15,470.67. The Nasdaq declined 0.3% to 3,654.01.


4. -- Tesla Motors (TSLA - Get Report) posted quarterly earnings on Wednesday that blew past Wall Street's expectations.

The electric car maker earned 5 cents a share in the second quarter on revenue of $405 million, as global deliveries of the Model S surged to 5,150 units for the quarter. Gross margin for the quarter was 22%, despite a reduction in ZEV credits, something investors had been worried about.

Analysts had expected Tesla to post a quarterly loss of 17 cents a share on revenue of $383.4 million.

For the third quarter, Tesla said it expects to deliver slightly more than 5,000 cars as the company expands into Europe, and remains on track to deliver 21,000 Model S units during the year. The company said it expects non-GAAP gross margins to be "in the low 20% range, with continuing improvements in Model S vehicle margin, offset by significantly lower ZEV credit revenue."


5. -- Groupon (GRPN - Get Report), the daily deals site, reported better-than-forecast quarterly earnings and strong mobile purchasing among its North American users.

Groupon reported adjusted earnings of 2 cents a share on revenue of $608.7 million, as its top-line slightly beat Wall Street consensus estimates.

The company also said its board named Eric Leftofsky as CEO and Ted Leonsis as chairman, firming up the company's leadership ranks after the firing of founder Andrew Mason earlier this year.


6. -- The Sulzberger family, which owns the New York Times (NYT - Get Report), said Wednesday in an email to its staff that the newspaper wasn't for sale.

"Will our family seek to sell The Times? The answer to that is no. The Times is not for sale, and the trustees of the Ochs-Sulzberger Trust and the rest of the family are united in our commitment to work together with the company's board, senior management and employees to lead The New York Times forward into our global and digital future," wrote New York Times Chairman and Publisher Arthur Sulzberger Jr. and Vice Chairman Michael Golden in the email.

The statement follows recent announcements of the sales of The Boston Globe and The Washington Post newspapers.


7. -- T-Mobile US (TMUS - Get Report), the fourth-largest U.S. carrier, said Thursday it added 1.1 million customers, including 685,000 contract customers, in the second quarter.

The carrier, which is 74%-owned by Deutsche Telekom and merged with MetroPCS in April, lost 557,000 subscribers a year earlier.

T-Mobile was helped in the second quarter by its launch of Apple's (AAPL) iPhone.

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
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
COST $145.42 1.51%
GRPN $6.40 -1.08%
NYT $14.16 0.85%
TMUS $38.65 0.26%
TSLA $247.43 -0.01%

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs