NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Oct. 25:
1.-- U.S. stock futures were suggesting Wall Street would open lower on Friday after Asian stocks tumbled on doubts over the recovery of the economies of Japan and China.
European stocks were moving lower. Japan's Nikkei 225 index fell 2.8% to close at 14,088.19, and China's Shanghai Composite Index declined 1.5%.
2.-- The economic calendar in the U.S. Friday includes durable-goods orders for September at 8:30 a.m. EDT, the final University of Michigan Sentiment Index for October at 9:55 a.m. and wholesale inventories for August at 10 a.m.
4.-- Amazon (AMZN) reported third-quarter results on Thursday that beat Wall Street estimates.
The world's largest online retailer posted a quarterly loss of 9 cents a share on revenue of $17.09 billion, delivering 24% year-over-year growth. Analysts sexpected Amazon to lose 9 cents a share on revenue of $16.76 billion.
The company noted its operating loss was $25 million in the third quarter, compared to an operating loss of $28 million in the year-earlier period. Foreign exchange impacts caused $7 million of the loss.
For the fourth quarter, the company said it expects revenue of between $23.5 billion and $26.5 billion. Wall Street estimates sales of $25.9 billion.The company noted it expects operating income to be between a loss of $500 million and a $500 million gain for the quarter, compared to a gain of $405 million in the fourth quarter of 2012. 5.-- Microsoft (MSFT) said Thursday that fiscal first-quarter earnings rose to $5.24 billion, or 62 cents a share, from $4.47 billion, or 53 cents a share, a year earlier as revenue rose 16% to $18.53 billion.
The results topped the estimates of Wall Street, which was looking for earnings of 54 cents a share on revenue of $17.79 billion.
Microsoft said its devices and consumer, and commercial segments yielded upbeat results in the first quarter. During the quarter, devices and consumer revenue rose 4% to $7.46 billion and commercial revenue jumped 10% to $11.20 billion.
The company will look to sell 70 million shares, meaning it is attempting to offer up to $1.4 billion in stock through the IPO. Twitter also will have the ability to sell an additional 10.5 million shares, bringing the offering potentially more than $1.6 billion. The listing overall will value Twitter at a high end of $10.9 billion given a share count of 544 million total shares; the valuation is less than some estimates put forward in media reports. 7.-- Procter & Gamble (PG), the consumer-products company, is forecast by Wall Street to report fiscal first-quarter earnings of $1.05 a share on revenue of $21.04 billion.
8.-- Shipping giant United Parcel Service (UPS) is expected by analysts on Friday to post third-quarter earnings of $1.15 a share on revenue of $13.6 billion. (UPS) 9.-- Samsung Electronics reported another record quarterly profit as a revival in its semiconductor business and strong shipments of cheaper handsets offset flat sales of high-end smartphones. The South Korean company, the world's largest maker of smartphones, memory chips and televisions, said Friday its July-September net profit rose 25% from a year earlier to 8 trillion won ($7.5 billion). 10.-- The St. Louis Cardinals beat the Boston Red Sox, 4-2, on Thursday night to even the World Series at one game apiece. The Series resumes Saturday night in St. Louis. -- Written by Joseph Woelfel To contact the writer of this article, click here:Joseph Woelfel To submit a news tip, send an email to:firstname.lastname@example.org.
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