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

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, Sept. 18:

1. -- U.S. stock futures were rising following modest gains across the globe as investors await an announcement from the Federal Reserve on its plans to taper economic stimulus.

European stocks were higher. Asian shares finished the session mixed. Japan's Nikkei 225 index rose 1.4%.


2. -- The economic calendar in the U.S. Wednesday includes housing starts and building permits for August at 8:30 a.m. EDT, and the rates decision from the Federal Open Market Committee in the afternoon.


3. -- U.S. stocks on Tuesday rose as investors await guidance from the Fed about the future of its sweeping economic stimulus program.

The S&P 500 rose 0.42% to close at 1,704.76 while the Dow Jones Industrial Average added 0.29% to finish at 15,539.63. The Nasdaq gained 0.75% to 3,745.70.


4. -- Walgreen (WAG) is set to become one of the largest employers to make sweeping changes to company-backed health programs. The drugstore giant is expected to disclose on Wednesday a plan to provide payments to eligible employees for the subsidized purchase of insurance starting in 2014, according to The Wall Street Journal.

The plan would affect roughly 160,000 employees, and will require them to shop for coverage on a private health-insurance marketplace.

Walgreen joins a list of companies making changes to their benefits. IBM and Time Warner said recently they will move thousands of retirees from their own company-administered plans to private exchanges.


5. -- Starbucks (SBUX) said guns are no longer welcome in its cafes, though the coffee chain stopped short of an outright ban on firearms.

The request is being made in part because more people have been bringing guns into Starbucks over the last six months, prompting confusion and dismay among some patrons and employees, CEO Howard Schultz told Reuters in an interview.

In an open letter to customers issued late Tuesday, Schultz said: "Our stores exist to give every customer a safe and comfortable respite from the concerns of daily life."

Starbucks' long-standing policy had been to default to local gun laws, including "open carry" regulations that allow people to bring guns into stores, Reuters noted.

Schultz said he hopes people will honor the request not to bring in guns but said the company will nevertheless serve those who do.

"We will not ask you to leave," he said.

Starbucks has almost 7,000 company-operated U.S. stores.


6. -- Adobe Systems (ADBE), the maker of creative-suite products like Photoshop and InDesign, said fiscal third-quarter earnings on an adjusted basis fell to 32 cents a share from 58 cents a share a year earlier.

Revenue fell 8% in the quarter to $995.1 million.

Wall Street expected Adobe to report earnings of 34 cents a share on revenue of $1.01 billion.

Adobe has been shifting its business to a subscription-based model. The company said subscription revenue rose 73% to $299.4 million. The company said its Creative Cloud service gained 331,000 paying subscribers during the quarter, surpassing 1 million.


7. -- FedEx (FDX) is expected by Wall Street on Wednesday to report fiscal first-quarter earnings of $1.50 a share on revenue of $10.97 billion.

1 of 2

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 17,162.99 -9.69 -0.06%
S&P 500 1,993.70 -0.59 -0.03%
NASDAQ 4,533.2170 +5.5280 0.12%

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