This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Friday, Sept. 13:

1. -- U.S. stock futures were trading flat Friday ahead of a U.S. retail sales report.

European stocks were falling early Friday while Asian shares ended the session mostly lower. Hong Kong's Hang Seng index fell 0.2% but Japan's Nikkei 225 index bucked the trend and posted a 0.1% gain.


2. -- The economic calendar in the U.S. Friday includes retail sales for August at 8:30 a.m. EDT, the Producer Price Index for August at 8:30 a.m., the University of Michigan Sentiment Index for September at 9:55 a.m., and business inventories for July at 10 a.m.


3. -- U.S. stocks on Thursday slipped after a weekly jobless claim report was seen as sufficient enough to prompt the Federal Reserve to curb the bond-buying stimulus measures that have fueled the best year in equities since 1997.

The S&P 500 lost 0.3% to 1,683.42 while the Dow Jones Industrial Average fell 0.2% to 15,300.64. The Nasdaq dropped 0.2% to 3,715.97.


4. -- Twitter, the popular micro-blogging site, plans to file for an initial public offering of its stock. Twitter took to its own network to make the announcement.

"We've confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale," Twitter said at about 5 p.m. EDT on Thursday.

Unlike a traditional filing disclosed to public investors, companies like Twitter with revenue less than $1 billion in their most recent fiscal year can submit S-1 IPO filings confidentially with the Securities and Exchange Commission under the Jumpstart Our Business Startups, or JOBS Act.

While details of the listing remain unclear, Twitter's pending IPO will likely be the most watched listing since Facebook's (FB) blockbuster May 2012 share sale.

eMarketer projected in March that Twitter will earn $582.8 million in global ad revenue in 2013 before nearing $1 billion next year, with the majority of the company's growth coming from mobile users.

TheDeal's Jon Marino reported in August that a shareholder pegged Twitter's market capitalization at about $12 billion. That source suggested Twitter's valuation would rise, but not past $15 billion, by the time it listed on public markets.


5. -- President Barack Obama will name former U.S. Treasury Secretary Lawrence Summers as the next chairman of the Federal Reserve, Japan's Nikkei newspaper reported, citing unnamed sources.

The newspaper said Obama could make the announcement as early as late next week.

Summers would succeed Ben Bernanke, whose term expires in January. Summers and Fed Vice Chair Janet Yellen have been considered as the front-runners to be the next central bank chief.


6. -- JPMorgan Chase (JPM - Get Report) plans to spend an additional $4 billion and commit 5,000 extra employees this year to clean up its risk and compliance problems, The Wall Street Journal reported, citing people close to the bank.

As part of a company-wide effort, the bank is spending an additional $1.5 billion on managing risk and complying with regulations, including a 30% increase in risk-control staffing, the people told the Journal. In addition, the bank expects to add $2.5 billion to its litigation reserves in the second half of the year, the people said.


7. -- Vodafone (VOD) said Friday it is poised to seal the €7.7 billion ($10.23 billion) takeover of Kabel Deutschland, after it won the backing of the German cable operator's shareholders.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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
JPM $61.58 0.00%
P $15.18 0.00%
VOD $34.58 0.00%
AAPL $130.42 0.00%
FB $80.41 0.00%

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

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