Here are 10 things you should know for Wednesday, Nov. 27:
1.-- U.S. stock futures on Wednesday were rising slightly as investors awaited a trading day filled with economic data ahead of the Thanksgiving holiday.
European stocks were higher in early trading. Asian stocks ended the session mixed. Japan's Nikkei 225 index declined 0.4%.
2.-- The economic calendar in the U.S. Wednesday includes weekly initial jobless claims at 8:30 a.m. EST, durable orders for October at 8:30 a.m., Chicago PMI for November at 9:45 a.m., the final University of Michigan Sentiment Index for November at 9:55 a.m., and leading indicators for October at 10 a.m.
3.-- U.S. stocks on Tuesday mostly rose with the Nasdaq closing above 4,000 for the first time in 13 years.
The Dow Jones Industrial Average closed unchanged at 16,072.80 while the S&P 500 gained 0.01% to 1802.75. The Nasdaq rose 0.58% to break the 4,000 benchmark at 4,017.75.
(HPQ - Get Report)
blew past Wall Street estimates as the PC maker avoided the spending pressures that weighed on rivals such as
HP reported sales of $29.1 billion, down from $30 billion a year earlier, but comfortably above analysts' forecasts of $27.91 billion. Excluding items, HP earned $1.01 a share in the quarter, down from $1.16 a share in the same period last year. Analysts were looking for earnings of $1 a share.
Excluding items, HP expects first-quarter earnings of between 82 cents and 86 cents a share, at the high end of Wall Street's expectations. For fiscal 2014, HP reiterated its non-GAAP earnings outlook of $3.55 to $3.75 a share.
Speaking during HP's conference call, CEO Meg Whitman said HP is making progress on its turnaround plan. "With the final quarter of our 'fix and rebuild year' now behind us, I'm pleased with our progress in 2013," she said. "In fiscal 2013, we focused on improving our operations."
5.-- Cox Communications is considering jumping into the bidding for Time Warner Cable
(TWC - Get Report), according to people familiar with the situation, The Wall Street Journal reported.
Cox is the nation's third-biggest cable operator, ranking slightly ahead of Charter Communications
, which was the first company to begin circling Time Warner Cable earlier this year, the Journal
, the largest cable operator, also is contemplating a Time Warner Cable bid, either on its own or by backing a bid by Charter, people familiar with the situation told the Journal
-- Several private-equity investors are studying the possibility of making a bid
, setting up a potential takeover battle for the business software maker less than a year after it spurned an offer of $2.3 billion from activist investor Elliott Management, the Financial Times
Funds, including Thoma Bravo and Vista Equity Partners, a San Francisco-based buyout firm, have approached Compuware about taking the company private, FT reported, citing people familiar with the discussions.
Any offer is likely to be priced at a premium to Compuware's $2.34 billion market capitalization, according to the FT
. A deal could be reached by early January but the process was described as "fluid."
-- A wall of storms packing ice, sleet and rain could upend holiday travel
plans for millions of Americans on Wednesday, the day before Thanksgiving.
So far, the deadly storms barreling into the mid-Atlantic and Northeast have not resulted in many flight delays or cancellations, but forecasters were expecting the weather to worsen throughout the day, The Associated Press
"The timing of the storm couldn't be worse," said Chris Vaccaro, a spokesman for the National Weather Service. "We are seeing numerous threats as the storm is beginning to develop and intensify."
said third-quarter earnings fell 79% from a year earlier when results were boosted by $78.4 million in litigation proceeds from an intellectual property settlement with Verizon
. Revenue, however, jumped 43% as subscriptions rose 32% from a year earlier to 3.9 million.
, the British engineering company, is considering a takeover
of Foster Wheeler
in a potential deal that could create an energy services group worth $8 billion, The Times
reported on Wednesday, citing sources.
.-- Alec Baldwin's six-week-old talk show, "Up Late with Alec Baldwin," has been canceled.
"We are jointly confirming that 'Up Late' will not continue on MSNBC
," the network and Matthew Hiltzik, a Baldwin representative, said in a joint statement.
The actor was suspended from the network earlier this month for threatening a photographer.-- Written by Joseph Woelfel
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