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TheStreet Open House

Nov. 8 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Nov. 8:

1.-- U.S. stock futures were indicating a positive start for Wall Street on Friday ahead of a key U.S. jobs report.

European stocks were trading lower early Friday. Asian shares ended the session with losses. Japan's Nikkei 225 index declined 1% and the Shanghai Composite fell 1.1%. China's communist leaders are meeting this weekend in Beijing where they are expected to lay out their long-term plan for the world's No. 2 economy.

2.-- The economic calendar in the U.S. Friday includes the nonfarm payrolls report for October at 8:30 a.m. EST, personal income and personal spending for September at 8:30 a.m., and the Michigan Sentiment Index for November at 9:55 a.m.

3.--U.S. stocks on Thursday fell the most in a month as soft consumer spending growth in the third quarter raised questions about the overall strength of the economic recovery.  

The S&P 500 fell 1.3% to 1,747.19 while the Dow Jones Industrial Average declined 0.97% to close at 15,594.49. The Nasdaq fell 1.9% to close at 3,857.33.

4.-- Twitter (TWTR) shares  began trading Thursday on the New York Stock Exchange after its initial public offering was priced $26 a share. The stock opened at $45.10 a share, and after closing the day up 73% to $44.90 the social network's total market cap is in excess of $24 billion.

5.-- Media and entertainment giant  Walt Disney (DIS)  reported fiscal fourth-quarter profit that exceeded analysts' forecasts powered by growth at the company's parks and television networks. 

Net income rose 4% to $1.4 billion, or 77 cents a share, from $1.2 billion, or 68 cents, a year earlier. Analysts were expecting earnings of 76 cents a share. Revenue jumped 7.3% to $11.6 billion, exceeding Wall Street forecasts of $11.4 billion. 

Disney's Media Networks group posted a 1% increase in revenue to $4.9 billion while the Park & Resorts group reported an 8% gain in sales to $3.7 billion. Even Disney's film studios, hit last quarter by the poor box office showing of "The Lone Ranger," grew 7% to $1.5 billion.

6.-- Boeing (BA) said it was ready to re-examine alternative sites for its newest jet, the 777X, if assembly workers and local politicians don't ratify plans to build it in the Seattle area, its traditional manufacturing base, Reuters reported.

Boeing issued the warning hours after senior members of the International Association of Machinists union were reported to voice opposition to a proposed labor contract that is due to go to a membership vote next Wednesday, according to Reuters.

7.--Groupon  (GRPN), the daily deals site, narrowed its losses in the third quarter but revenue of $595.1 million trailed Wall Street forecasts.

Groupon also announced Thursday it was buying Korea-based Ticket Monster from rival Living Social for $260 million in cash and stock.

8.
-- Priceline.com (PCLN), the online travel site, named Darren Huston as CEO and president. Huston is currently head of hotel reservation service booking.com, a Priceline subsidiary.

Huston is taking over from Jeffery Boyd, who will remain chairman.

Priceline also said third-quarter profit rose 40% to $833 million, or $15.72 a share. Revenue rose 33% to $2.27 billion.

9.-- Lionsgate (LGF), the movie and television production company, is expected by analysts on Friday to report a fiscal second-quarter loss of 8 cents a share.

10.-- A massive typhoon, one of the strongest storms ever recorded, slammed into the Philippines early Friday.

"There will be catastrophic damage," Jeff Masters, a former hurricane meteorologist who is meteorology director at the private firm Weather Underground, told The Associated Press.

Typhoon Haiyan's maximum sustained winds were 195 mph, with gusts up to 235 mph, according to the U.S. Navy's Joint Typhoon Warning Center in Hawaii.

Early reports said three people have died from the typhoon but the death toll is expected to rise. 

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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