Here are 10 things you should know for Friday, Nov. 22:
1.-- U.S. stock futures were pointing to slight gains on Wall Street Friday after the Dow Jones Industrial Average closed above 16,000 for the first time on Thursday.
European stocks were trading mostly higher. Asian shares ended Friday's session with gains. Japan's Nikkei 225 index rose 0.1%.
2.-- The economic calendar in the U.S. Friday includes the Job Openings and Labor Turnover Survey for September at 10 a.m. EST.
3.-- U.S. stocks on Thursday broke a three-day losing streak as Janet Yellen's nomination as the next Federal Reserve chief was approved by the Senate Banking Committee and investors cheered a fall in weekly initial jobless claims.
The S&P 500 rose 0.81% to close at 1,795.85, while the Dow gained 0.69% to 16,009.99. The Nasdaq popped 1.22% to finish at 3,969.15.
-- Cable operator
nearing an agreement with banks
to borrow money for a bid for
Time Warner Cable
, according to people familiar with the situation,
The Wall Street Journal
Charter has held talks with banks including Bank of America and Barclays about a multi-billion dollar debt package that would underpin an offer for Time Warner Cable, which has a market capitalization of nearly $35 billion, the people told the Journal. Another possible source of cash for a bid is sovereign wealth funds and wealthy individuals, the Journal reported. Arranging equity commitments from such parties could allow Charter to increase the cash component of the deal without taking on too much debt.
It isn't clear which banks ultimately might participate in any debt package or how much Charter would get from lenders. There also is no guarantee a Charter bid for Time Warner Cable will ultimately materialize, and the timing of any such move is unclear.
Charter is backed in the effort by Liberty Media
(LMCA), its largest shareholder.
-- A jury on Thursday added $290 million more to the damages that Samsung Electronics
for copying certain iPhone and iPad features, bringing the total amount Samsung must pay to $930 million.
The verdict covers 13 older Samsung devices that a previous jury found were among 26 Samsung products that infringed Apple patents, The Associated Press
Samsung said it would appeal the verdict.
launched its Xbox One gaming console
in 13 countries on Friday. Its the first new Xbox in eight years
The Xbox One sells for $500, a premium to the recently launched Sony
, the specialty apparel retailer, posted earnings on Thursday that beat Wall Street estimates. But the company reaffirmed previous guidance for the year, suggesting that with massive competition and strong promotions this year's holiday selling season could prove challenging.
Gap said fiscal third-quarter net income
rose 9.4% to $337 million, or 72 cents a share, from $308 million, or 63 cents a share, a year earlier. Net sales rose 3% to $3.98 billion.
Analysts expected the retailer to earn 71 cents a share on sales of $3.97 billion.
Gap reaffirmed full-year earnings guidance of $2.57 to $2.65 a share, which implies fourth-quarter earnings of 50 cents to 58 cents a share, below analysts' fourth quarter expectations of 69 cents a share.
, the Internet radio company, posted a fiscal third-quarter loss of $1.7 million, or 1 cent a share. Adjusted earnings were 6 cents a share, in-line with Wall Street forecasts.
Revenue rose 50% to $180.4 million, Pandora said Thursday.
The company said it had 70.9 million active listeners in the quarter, up 20% from a year earlier, but down from the 71.2 million in the preceding quarter.Pandora provided an outlook
for the three months ending in January that was below analysts' estimates.
secured about $250 million in new financing
that values the music-streaming company somewhere "north" of $4 billion, people familiar with the deal told the Journal
The round of funding, led by Silicon Valley firm Technology Crossover Ventures, will help Spotify expand globally, the Journal
noted. Spotify is established in the U.S. and many other Western markets but it's looking to launch its service in more countries, including Japan.
-- JPMorgan Chase
(JPM) plans to keep overall compensation roughly flat this year from last year, in a sign that employees will feel at least some pain from the bank's recent legal settlements, Reuters reported, citing two sources familiar with the matter.
-- 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